European Capital Declares Q2 Dividend of Euro 0.10 Per Ordinary Share; Increases 2007 Dividend Target to Euro 0.37 Per Ordinary Share
St. Peter Port, Guernsey (ots/PRNewswire)
European Capital Limited ("European Capital") (LSE: ECAS)
announced today that its Board of Directors has declared an interim
dividend of euro 0.10 per ordinary share in respect of the second
quarter of 2007. The dividend is payable on 27 July 2007 to holders
of ordinary shares on the register at 4:30pm on 29 June 2007. The
dividend is European Capital's first since it listed on the London
Stock Exchange on 10 May 2007.European Capital is also targeting third quarter and fourth quarter interim dividends for 2007 of euro 0.13 and euro 0.14 per ordinary share, respectively, for a targeted total 2007 dividend following European Capital's initial public offering of euro 0.37 per ordinary share. The 2007 targeted total dividend of euro 0.37 per ordinary share is a euro 0.10 per ordinary share increase over European Capital's previous target.
"European Capital continues to make excellent progress following its initial public offering in May. The change in our dividend target for the year and increase in dividends is a testament to European Capital's success," said Ira Wagner, President of European Capital Financial Services Limited, the sub-investment manager of European Capital, and Chief Operating Officer of American Capital Strategies, Ltd.
European Capital is managed by European Capital Financial Services
(Guernsey) Limited (the "Investment Manager"), a wholly-owned
subsidiary of American Capital Strategies, Ltd. ("American Capital").
American Capital is a leading US based investor in equity, mezzanine
and senior debt securities and is also the majority owner of European
Capital.This press release is neither an offer to sell nor a solicitation of an offer to buy European Capital ordinary shares.
ABOUT EUROPEAN CAPITAL
European Capital is a closed-end investment company for pan-European equity, mezzanine and senior debt investments with capital resources of approximately euro 2.1 billion (US$2.9 billion). European Capital invests in and sponsors management and employee buyouts, invests in private equity buyouts and provides capital directly to private and public companies headquartered predominantly in Europe. European Capital generally invests between euro 5 million and euro 500 million per transaction in equity, mezzanine debt and senior debt to fund growth, acquisitions and recapitalizations.
ABOUT AMERICAN CAPITAL
American Capital Strategies Ltd. (Nasdaq: ACAS), an affiliate of European Capital, is the second largest U.S. publicly traded alternative asset manager with US$12 billion in assets under management (second to Fortress). American Capital, both directly and through its global asset management business, is an investor in management and employee buyouts, private equity buyouts, and early stage and mature private and public companies. American Capital provides senior debt, mezzanine debt and equity to fund growth, acquisitions, recapitalizations and securitizations. American Capital and its affiliates invest from US$5 million to US$800 million per company in North America and euro 5 million to euro 500 million per company in Europe.
This announcement contains forward-looking statements. Statements regarding expected results of European Capital are subject to various factors and uncertainties, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, changes in regional, national or international economic conditions, or changes in the conditions of the industries in which European Capital has made investments.
Web site: http://www.americancapital.com
Contact:
John Erickson, Chief Financial Officer, +1-301-951-6122, or Tom
McHale, Senior Vice President, Finance, +1-301-951-6122, both of
American Capital