LEF redeems full investment in biogas producer agri.capital

Ludgate Environmental Fund (LEF) has signed an agreement that will deliver redemption of its full investment in agri.capital, a European biogas and biomethane producer.

LEF invested a total of €11.3m (£9.7m) in three tranches since October 2008 and realisation of the investment in agri.capital will provide a cash return at exit (excluding dividends paid to date) of €16.3m (£14.1m).

The effect of this exit from agri.capital is an increase of 5.8p per share from the 98.6p per share net asset value at 31 December 2010.

agri.capital controls more than 400GWh of renewable power each year in operation or construction at more than 60 project sites.