Albion EnterpriseVCT Albion Enterprise Vct Plc: Interim Management Report
30 August 2022 - 8:41PM
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 2022 to 30 June
2022.
Performance and dividends
The Company's unaudited net asset value (NAV) on 30 June 2022
was GBP117.39 million or 130.20 pence per share (excluding treasury
shares), a decrease of 2.08 pence per share (1.6%) since 31 March
2022.
After accounting for the first interim dividend for the year
ending 31 March 2023 of 3.31 pence per share to be paid on 31
August 2022 to shareholders on the register on 5 August 2022, the
NAV is 126.89 pence per share.
Fundraising and share issues
During the period from 1 April 2022 to 30 June 2022, the Company
issued the following new Ordinary shares of nominal value 1 penny
per share under the Albion VCTs Prospectus Top Up Offers
2021/22:
Issue price per share
Number of shares (including costs of Net proceeds
Date issued issue) GBP'000
-------------- ---------------- --------------------- ------------
11 April 2022 644,529 131.7p -- 133.0p 836
-------------- ---------------- --------------------- ------------
Portfolio
The following investments have been made during the period from
1 April 2022 to 30 June 2022:
New investments GBP000s Activity
------------------ ------- -------------------------------------------------
Provides insights and analytics to pharmaceutical
PeakData 862 companies about therapeutic areas.
------------------ ------- -------------------------------------------------
Provider of an autonomous debt resolution
Ophelos 526 platform.
------------------ ------- -------------------------------------------------
Total new
investments 1,388
------------------ ------- -------------------------------------------------
Further investments GBP000s Activity
------------------- ------- ------------------------------------------------------
Gravitee Topco (t/a
Gravitee.io) 668 Provider of an API management platform.
------------------- ------- ------------------------------------------------------
Provider of low footprint automated speech recognition
Cantab Research which can be deployed in the cloud, on premise or
(t/a Speechmatics) 265 on device across over 31 languages.
------------------- ------- ------------------------------------------------------
Provides data extraction and analytics technology
Accelex Technology 252 for private capital markets.
------------------- ------- ------------------------------------------------------
A software provider bringing real-time behavioural
data analytics to the marine and transport insurance
Concirrus 75 industries.
------------------- ------- ------------------------------------------------------
Total further
investments 1,260
------------------- ------- ------------------------------------------------------
Top ten holdings (on 30 June 2022)
% of
net
Carrying value asset
Investment GBP000s value Activity
------------------- -------------- ----- ------------------------------------------------------------
Quantexa 14,530 12.4% Network analytics platform to detect financial crime.
------------------- -------------- ----- ------------------------------------------------------------
Egress Software
Technologies 12,121 10.3% Encrypted email & file transfer service provider.
------------------- -------------- ----- ------------------------------------------------------------
Proveca 6,100 5.2% Reformulation of medicines for paediatrics.
------------------- -------------- ----- ------------------------------------------------------------
A technology enabled service business in medical nutritional
Oviva 4,912 4.2% therapy (MNT).
------------------- -------------- ----- ------------------------------------------------------------
Radnor House School
(TopCo) 3,400 2.9% Independent school for children aged 2-18.
------------------- -------------- ----- ------------------------------------------------------------
Operator and developer of women's health centres focusing
The Evewell Group 2,866 2.4% on fertility.
------------------- -------------- ----- ------------------------------------------------------------
Provider of low footprint automated speech recognition
Cantab Research which can be deployed in the cloud, on premise or
(t/a Speechmatics) 2,165 1.8% on device across over 31 languages.
------------------- -------------- ----- ------------------------------------------------------------
Black Swan Data 2,107 1.8% Predictive analytics for consumer brands.
------------------- -------------- ----- ------------------------------------------------------------
Regenerco Renewable Generator of renewable energy from roof top solar
Energy 2,056 1.8% installations.
------------------- -------------- ----- ------------------------------------------------------------
Gravitee TopCo (t/a
Gravitee.io) 1,798 1.5% API management platform.
------------------- -------------- ----- ------------------------------------------------------------
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=yYOCGgBvQgWRz3TPj6B1SK5ymi6DpK4-suJopnqnPWkeU5mVi-PRr6WdvCBlv8wKMbn3ZbfWTB0zNk1VddbpuE1GAp5nMdvdwSs5gdygM5oL5L7CJskT62h0gK9iim-W
www.albion.capital/funds/AAEV.
Share buy-backs
During the period from 1 April 2022 to 30 June 2022, 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
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
The Company continues to offer a dividend reinvestment scheme to
existing shareholders. Details of this Scheme can be found at
https://www.globenewswire.com/Tracker?data=yYOCGgBvQgWRz3TPj6B1SK5ymi6DpK4-suJopnqnPWkCVps78Ula4IPQ3HYXeh-rwBJDTrm1n2VgaspRGlHCwv1Jh8wKvJ1OpsR10py38Ud9--OPvtp0UaTcqFqtEzIe
www.albion.capital/funds/AAEV.
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=yYOCGgBvQgWRz3TPj6B1SK5ymi6DpK4-suJopnqnPWkWbQSjUPMXJSf6POiQTKIgerdhcqlcdNRFdr2jK3gg8rb3DxeKeT1FO7vE9YL1Xvm9CD4SYLvYGTv9JkBUM9YW
www.albion.capital/funds/AAEV.
Maxwell Packe, Chairman
30 August 2022
For further information please contact:
Vikash Hansrani
Operations Partner
Albion Capital Group LLP
Telephone: 020 7601 1850
(END) Dow Jones Newswires
August 30, 2022 06:41 ET (10:41 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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