Literacy Capital (LSE:BOOK) sold its largest fund interest for €5.7 million, received in cash on completion yesterday, at nil discount to carrying value.
The 2021-vintage stake represented the majority of BOOK's remaining third‑party funds exposure and leaves the Fund with two remaining fund interests carrying a combined value of £4.4 million as at 31 March, equivalent to 1.5% of NAV.
Consideration was all cash, paid on completion, with no premium or discount to the previously reported carrying value.
BOOK said it will prioritise bolt-on acquisitions within its existing portfolio to enhance NAV while remaining open to new investments.
"The sale of BOOK's largest remaining fund interest helps accelerate rebalancing the portfolio away from third-party fund interests towards direct buyout investments in profitable UK businesses," Richard Pindar, CEO of BOOK's Investment Manager, said.
This is the Fund's second secondary-market disposal following an October 2024 sale at an 8.2% premium, and including this transaction BOOK has received more than £36 million of cash since the start of 2026, with disposals realised at or above prior carrying values.
The announcement does not constitute an updated NAV for the Company.
