Chrysalis VCT Plc Update On Portfolio Company
14 May 2020 - 3:05AM
UK Regulatory
TIDMCYS
Chrysalis VCT plc
LEI: 2138009FVDWULSIOX404
13 May 2020
Update on portfolio company
The Company notes the comments made in an announcement today by Edge
Performance VCT plc ("Edge") about one of its investments, Coolabi plc,
in which Chrysalis VCT also has a holding.
Edge's announcement included the following:
"Coolabi has appointed an adviser to consider the strategic
opportunities open to it, including an outright sale of the business.
As a consequence, a number of expressions of interest in acquiring
Coolabi have been received. This process is ongoing but has been
delayed by the COVID crisis. Coolabi has been doing well despite the
crisis. Its target audience is at home so reading, watching and online
consumption are all up and its nine months YTD trading results position
it for a full year profit ahead of last year's."
At 31 October 2019, the investment in Coolabi represented approximately
27% of Chrysalis VCT's net assets and comprises mainly of loan stock.
The Chrysalis VCT board and manager are monitoring developments with
Coolabi and will update shareholders in due course when there are any
significant developments or, in any event, in the Company's Half Yearly
Report for the period ended 30 April 2020 which is expected to be
published in early July.
(END) Dow Jones Newswires
May 13, 2020 13:05 ET (17:05 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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