Oakley Capital Investments Ltd - provides access to equity investments of funds managed by Oakley Capital Ltd - Board approves the conversion of $107 million of its preferred equity position in portfolio business North Sails, a marine action sports company, into ordinary equity, effective on Thursday. This allows OCI to ‘better participate in future returns’ in the investee company, and was in response to ‘positive trading momentum and strategic acquisitions’ by North Sails over the last year.

OCI continues to hold $77 million in North Sails preferred equity, and has prorated a warrant over 5% of North Sails’ equity down to 2%. The warrant, originally due to mature on June 30, 2025, will now mature on June 30, 2026. OCI also retains a further $68 million indirect stake in North Sails through its investment in Oakley Capital Fund II.

Current stock price: 500.39 pence, down 0.3% in London on Thursday morning

12-month change: up 3.9%

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