Albion EnterpriseVCT Albion Enterprise Vct Plc: Interim Management Statement
11 August 2021 - 8:02PM
UK Regulatory
TIDMAAEV
ALBION ENTERPRISE VCT PLC
LEI Code: 213800OVSRDHRJBMO720
Interim Management Statement
Introduction
I present Albion Enterprise VCT PLC (the "Company")'s interim
management statement for the period from 1 April 2021 to 30 June
2021.
Performance and dividends
The Company's unaudited net asset value (NAV) on 30 June 2021
was GBP95.82 million or 127.93 pence per share (excluding treasury
shares), an increase of 13.33 pence per share (11.6%) since 31
March 2021.
It was announced on 21 June 2021 that two companies within the
portfolio were undergoing external fundraising processes. These
fundraisings were both at significantly higher valuations to their
original 31 March 2021 valuations. There have also been uplifts in
several of our technology and healthcare investments due to strong
trading performances which have also contributed to the excellent
return for the period.
After accounting for the dividend of 2.87 pence per share to be
paid on 31 August 2021 to shareholders on the register on 6 August
2021, the NAV is 125.06 pence per share.
Fundraising and share issues
During the period from 1 April 2021 to 30 June 2021, the Company
issued the following new Ordinary shares of nominal value 1 penny
per share under the Albion VCTs Prospectus Top Up Offers
2020/21:
Issue price per share
(including costs of Net proceeds
Date Number of shares issued issue) GBP'000
------------- ----------------------- ------------------------ ------------
9 April 2021 383,354 114.0p -- 115.2p 431
------------- ----------------------- ------------------------ ------------
Portfolio
The following investments have been made during the period from
1 April 2021 to 30 June 2021:
New investments GBP000s Activity
--------------- ------- ------------------------------------------------------
Gravitee TopCo
Limited (T/A
gravitee.io) 763 API management platform
--------------- ------- ------------------------------------------------------
Digital therapeutics and decentralised clinical trials
NuvoAir AB 649 for respiratory conditions
--------------- ------- ------------------------------------------------------
Brytlyt Limited 310 A GPU database provider
--------------- ------- ------------------------------------------------------
Accelex
Technology
Limited (T/A Data extraction and analytics technology for private
Accelex) 265 capital markets
--------------- ------- ------------------------------------------------------
Total new
investments 1,987
--------------- ------- ------------------------------------------------------
Further
investments GBP000s Activity
----------------- ------- --------------------------------------------------
A patient engagement and data capture platform for
uMotif Limited 531 use in real world and observational research
----------------- ------- --------------------------------------------------
Panaseer Limited 269 Provider of cyber security services
----------------- ------- --------------------------------------------------
Abcodia Limited 34 Validation and discovery of serum biomarkers
----------------- ------- --------------------------------------------------
Total further
investments 834
----------------- ------- --------------------------------------------------
Top ten holdings (on 30 June 2021)
% of
net
Carrying value asset
Investment GBP000 value Activity
------------- -------------- ----- ------------------------------------------------------------
Quantexa
Limited 14,489 15.1% Network analytics platform to detect financial crime
------------- -------------- ----- ------------------------------------------------------------
Egress
Software
Technologies
Limited 11,702 12.2% Encrypted email & file transfer service provider
------------- -------------- ----- ------------------------------------------------------------
Proveca
Limited 6,133 6.4% Reformulation of paediatric medicines
------------- -------------- ----- ------------------------------------------------------------
A technology enabled service business in medical nutritional
Oviva AG 3,630 3.8% therapy (MNT)
------------- -------------- ----- ------------------------------------------------------------
Radnor House
School
(TopCo)
Limited 3,006 3.1% Independent school for children aged 3-18
------------- -------------- ----- ------------------------------------------------------------
Phrasee
Limited 2,142 2.2% AI platform that generates optimised marketing campaigns
------------- -------------- ----- ------------------------------------------------------------
The Evewell
Group Operator and developer of women's health centres focusing
Limited 2,043 2.1% on fertility.
------------- -------------- ----- ------------------------------------------------------------
Regenerco
Renewable
Energy Generator of renewable energy from roof top solar
Limited 2,007 2.1% installations
------------- -------------- ----- ------------------------------------------------------------
Black Swan
Data
Limited 1,791 1.9% Predictive analytics for consumer brands
------------- -------------- ----- ------------------------------------------------------------
Healios 1,656 1.7% Provider of an online platform delivering family centric
Limited psychological care primarily to children and adolescents
------------- -------------- ----- ------------------------------------------------------------
A full breakdown of the Company's portfolio can be found on the
Company's webpage on the Manager's website at
https://www.globenewswire.com/Tracker?data=VsfTzcwbyJxyH9lSUcKZxAp_ARO5bhk2FpmYgCowUl95xtUQnMw8j4LRlo-zYzIHdf__TcT6ANBf4djFbQ0SFK66PyvKPLSK57tsx4MPH_F7lp77qX-Q2FobcQxo-TzW
www.albion.capital/funds/AAEV.
Share buy-backs
During the period from 1 April 2021 to 30 June 2021, the Company
did not buy back any shares.
It remains the Board's policy to buy back shares in the market,
subject to the overall constraint that such purchases are in the
Company's interest, including the maintenance of sufficient
resources for investment in existing and new portfolio companies
and the continued payment of dividends to shareholders.
It is the Board's intention for such buy-backs to be at around a
5% discount to net asset value, so far as market conditions and
liquidity permit.
Material events and transactions after the period end
After the period end, the Company had the following material
investment transaction:
-- Investment of GBP423,000 in an existing portfolio company,
The Evewell Group Limited, an operator and developer of women's
health centres focusing on fertility.
Other than as described above, there have been no material
events or transactions during the quarter and to the date of this
announcement.
Further information
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
https://www.globenewswire.com/Tracker?data=VsfTzcwbyJxyH9lSUcKZxAp_ARO5bhk2FpmYgCowUl_aWsgpv2c-Fv-eX2au_rap_Zgppbm9UB2kAIXXnktf6RSLhHe4GrXjBWXTZPhpCnAwb2spGiHqctpcOzcyI6Vm
www.albion.capital/funds/AAEV.
Maxwell Packe, Chairman
11 August 2021
For further information please contact:
Vikash Hansrani
Operations Partner
Albion Capital Group LLP
Telephone: 020 7601 1850
(END) Dow Jones Newswires
August 11, 2021 06:02 ET (10:02 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Albion Enterprise Vct (LSE:AAEV)
Historical Stock Chart
From Apr 2024 to May 2024
Albion Enterprise Vct (LSE:AAEV)
Historical Stock Chart
From May 2023 to May 2024