Albion EnterpriseVCT Albion Enterprise Vct Plc : Interim Management Statement
23 August 2017 - 1:30AM
UK Regulatory
TIDMAAEV
ALBION ENTERPRISE VCT PLC
Interim Management Statement
Introduction
I am pleased to present Albion Enterprise VCT PLC (the "Company")'s
interim management statement for the period from 1 April 2017 to 30 June
2017.
Performance and dividends
The Company's unaudited net asset value (NAV) as at 30 June 2017 was
GBP52.23 million or 100.78 pence per share (excluding treasury shares),
a decrease of 1.01 pence per share (1.00 per cent.) since 31 March 2017.
After accounting for the dividend of 2.50 pence per share to be paid on
31 August 2017 to shareholders on the register on 4 August 2017, the NAV
is 98.28 pence per share.
Portfolio
The following investments have been made during the period from 1 April
2017 to 30 June 2017:
New investments GBP000s Activity
MPP Global
Solutions Offers a cloud billing platform for enterprise subscription
Limited 950 businesses in the media, sport and retail sectors
G.Network
Communications
Limited 273 Fibre optic broadband provider in central London
Locum's Nest
Limited 100 Operates a digital platform for NHS locum doctors
Total new
investments 1,323
Further investments GBP000s Activity
Grapeshot Limited 167 Provider of digital marketing software
Panaseer Limited 100 Provides a cyber security service
Mirada Medical Limited 85 Develops medical imaging software
Healthcare informatics and analysis
Aridhia Informatics Limited 15 provider
Total further investments 367
Top ten holdings (as at 30 June 2017)
% of
net
Carrying value asset
Investment GBP000s value Activity
Radnor House
School
(Holdings)
Limited 5,927 11.3% Independent schools for children aged 5-18.
Egress
Software
Technologies
Limited 3,468 6.6% Encrypted email & file transfer service provider
Bravo Inns II
Limited 2,483 4.8% Owner and operator of freehold pubs
Mirada
Medical
Limited 2,288 4.4% Developer of medical imaging software
Grapeshot
Limited 2,166 4.1% Provider of digital marketing software
Proveca
Limited 1,910 3.7% Repositioning of paediatric medicines
Regenerco
Renewable
Energy Generator of renewable energy from roof top solar
Limited 1,752 3.4% installations
Earnside
Energy
Limited 1,667 3.2% An anaerobic digestion plant
Alto Prodotto 1,530 2.9% Owns and operates community scale wind energy projects
Wind on brownfield sites in the UK
Limited
Greenenerco 1,435 2.7% Owns & operates a 500kW wind project in the UK
Limited
A full breakdown of the Company's portfolio can be found on the
Company's webpage on the Manager's website at
www.albion.capital/funds/AAEV.
Share buy-backs
During the period from 1 April 2017 to 30 June 2017, there were no share
buy-backs undertaken by the Company.
Fundraising and share issues
During the period from 1 April 2017 to 7 April 2017, the Company issued
the following shares under the Albion VCTs Prospectus Top Up Offers
2016/2017:
Issue price per
Number of shares share (including Net consideration
Date issued costs of issue) received GBP'000
7 April 2017 294,610 99.4p to 100.5p 287
The Offer was fully subscribed and raised net proceeds of GBP5.82
million. The proceeds of the Offer are being used to provide further
resources to the Company at a time when a number of attractive new
investment opportunities are being seen.
Material events and transactions after the period end
Portfolio
After the period end, the Company had the following material investment
transactions:
-- Investment of GBP1,172,000 in Egress Software Technologies Limited, which
provides an encrypted email & file transfer service;
-- Investment of GBP273,000 in G.Network Communications Limited, which
provides fibre optic broadband in central London;
-- Investment of GBP211,100 in Black Swan Data Limited, which provides data
analysis that supports corporate decision making;
-- Investment of GBP53,000 in Abcodia Limited, which delivers validation and
discovery of serum biomarkers;
-- Investment of GBP15,000 in Aridhia Informatics Limited, which provides
healthcare informatics and analysis;
-- Investment of GBP10,000 in Beddlestead Farm Limited, which is a seed
investment to develop and operate dedicated wedding venues in the UK.
There have been no further significant events or transactions that the
Board is aware of which would have a material impact on the financial
position of the Company between 1 April 2017 to 22 August 2017.
Further information regarding historic and current financial performance
and other useful shareholder information can be found on the Company's
webpage on the Manager's website at www.albion.capital/funds/AAEV.
Maxwell Packe, Chairman
22 August 2017
For further information please contact:
Patrick Reeve, Albion Capital Group LLP - Tel: 020 7601 1850
LEI Code: 213800OVSRDHRJBMO720
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Albion Enterprise VCT PLC via Globenewswire
http://www.closeventures.co.uk
(END) Dow Jones Newswires
August 22, 2017 11:30 ET (15:30 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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