Seneca Growth Capital VCT B Share Portfolio Update
21 December 2022 - 6:00PM
UK Regulatory
TIDMHYG TIDMSVCT TIDMHYG
B Share Portfolio Update
Seneca Growth Capital VCT Plc (the "Company")
21 December 2022
B Share Pool Investment Activity since 30 June 2022
Since the June 2022 interim results, the Company has completed
seven additional investments, including one follow-on investment
into Arecor Therapeutics Plc, three private company investments and
three new AIM quoted investments, maintaining our goal of achieving
a relatively even split between unquoted and quoted investments
across a diverse spread of sectors. The investments made since 30
June 2022 are as follows:
-- Arecor Therapeutics Plc ("Arecor") - GBP0.2m follow-on investment made in
August 2022 following our initial GBP0.4m investment at IPO. Arecor is
developing a portfolio of proprietary products in diabetes and other
indications with its innovative proprietary formulation technology
platform, Arestat(TM), and working with leading pharmaceutical and
biotechnology companies to deliver enhanced reformulations of their
therapies.
-- Alderley Lighthouse Labs Ltd ("ALL") - GBP0.5m invested in October 2022.
ALL is a full service diagnostic facility in Alderley Park, with an
initial focus on blood science and molecular diagnostics with
capabilities to expand into histology and oncology.
-- Oxford BioDynamics Plc ("OBD") - GBP0.7m invested in October 2022. OBD is
a global biotechnology company, advancing personalized healthcare by
developing and commercializing precision medicine tests for life-changing
diseases.
-- Bidstack Group Plc ("Bidstack") - GBP1.1m invested in October 2022.
Bidstack is an advertising technology company which provides dynamic,
targeted and automated native in-game advertising for the global video
games industry across multiple platforms.
-- Northcoders Group plc ("Northcoders") - GBP0.3m invested in November
2022. Northcoders is a market leading provider of coding and software
development training for businesses and individuals.
-- Geomiq Limited ("Geomiq") - GBP0.3m invested in December 2022. Geomiq is
a supply chain platform solution that allows engineers and procurement
teams to shorten product development cycles and get products to market
faster by leveraging technology and a machine-learning-powered matching
system to connect buyers and sellers of custom manufactured parts.
-- Convenient Collect Limited ("HubBox") - GBP0.7m invested in December
2022. HubBox provides software for retailers to easily offer local pickup
options at checkout for customers who want alternatives to home delivery.
This software facilitates the offer of integrated flexible delivery
options, including consolidation of multiple deliveries into single
location/pick up points, helping to solve the 'last mile problem' for
delivery providers, retailers and customers.
The B share pool remains well placed to make new investments and
support existing B share portfolio companies with c.GBP5m in cash
following the investment in HubBox and with a continuing fundraise
under the current Offer.
B Share Pool Exits Update
The Company continues to harvest profits where possible for
investors, and has made three full and partial exits to date in
2022, taking the total number of full and partial exits since 2019
to eight. The total weighted average return for exits achieved to
date is 1.8x return. However, neither the exits achieved nor the
valuations of the B share portfolio since 30 September 2022, the
date of the last published unaudited Net Asset Value ("NAV") per B
share, have had a material impact on the NAV.
B Share Pool Dividends Update
The Company also continues to maintain its 3 pence per annum B
share dividend, with its second interim dividend of 1.5 pence per B
share for the year to 31 December 2022, which was paid on 16
December 2022. The Company has now paid a total of 12 pence per B
share since the launch of the B share class in 2018.
The Company looks forward to providing a further update in Q1
2023.
This announcement contains inside information as stipulated
under the UK version of the Market Abuse Regulation No 596/2014
which is part of English Law by virtue of the European (Withdrawal)
Act 2018, as amended. Upon the publication of this announcement via
a Regulatory Information Service, this information is now
considered to be in the public domain.
For further information, please contact:
John Hustler, Seneca Growth Capital VCT Plc at
john.hustler@btconnect.com
https://www.globenewswire.com/Tracker?data=52OYhLnWO-bAWJ32asnhOfCJi4mkPfw62ItBWaHsomIzF-9eWtpPAbuVm0kHDGxQqObWUgvTDyW572rr5hycHGipUh8jXFqEfziUcB_1BKvx6tE2Ww-9ZjvxHjoTpW8a
Richard Manley, Seneca Growth Capital VCT Plc at
Richard.Manley@senecapartners.co.uk
https://www.globenewswire.com/Tracker?data=Ggs4PquCMNbmPNiNY5PaxDHLxK-MIs2rbC6LnK-vm3X2HbstPHqHWLvDta_u5rkaVYaHnxruEGufxXYBsSqMoIeN2zovPdgy49cwxjP8XSJqH0vm6ynhRHY7Kdl_oxxywzcbzuXnqSw77tWzPoPUsQ==
(END) Dow Jones Newswires
December 21, 2022 02:00 ET (07:00 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Seneca Growth Capital Vct (LSE:HYG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Seneca Growth Capital Vct (LSE:HYG)
Historical Stock Chart
From Apr 2023 to Apr 2024