Kings Arms Yard Kings Arms Yard Vct Plc: Interim Management Statement
26 November 2021 - 01:23AM
UK Regulatory
TIDMKAY
Kings Arms Yard VCT PLC
Interim Management Statement
LEI Code 213800DK8H27QY3J5R45
Introduction
I present Kings Arms Yard VCT PLC's (the "Company") interim
management statement for the period from 1 July 2021 to 30
September 2021.
Performance and dividends
The Company's unaudited net asset value (NAV) as at 30 September
2021 was GBP106.5 million or 24.30 pence per share (excluding
treasury shares), an increase of 0.31 pence per share (1.3 per
cent.) since 30 June 2021.
After accounting for the second interim dividend for the year
ending 31 December 2021 of 0.60 pence per share and the special
dividend of 1.14 pence per share paid on 29 October 2021 to
shareholders on the register on 1 October 2021, the NAV is 22.56
pence per share.
Portfolio
The following investments have been made during the period from
1 July 2021 to 30 September 2021:
Further
investments GBP'000 Activity
------------ ------- ----------------------------------------------------------
Technology enabled service business in medical nutritional
Oviva AG 829 therapy (MNT).
------------ ------- ----------------------------------------------------------
The Evewell
Group Operator and developer of women's health centres focusing
Limited 386 on fertility.
------------ ------- ----------------------------------------------------------
Provider of automated software testing and an enhanced
Imandra Inc. 47 learning experience for artificial neural networks.
------------ ------- ----------------------------------------------------------
Total
further
investments 1,262
------------ -------
The following disposals were made during the period from 1 July
2021 to 30 September 2021:
Cost Proceeds
Portfolio Company GBP'000 GBP'000
----------------------- -------- --------
Antenova Limited 1,733 5,239
----------------------- -------- --------
Elateral Group Limited 5,488 410
----------------------- -------- --------
Total 7,221 5,649
----------------------- -------- --------
Top ten holdings as at 30 September 2021:
Portfolio Carrying value % of Activity
company GBP'000 net
asset
value
------------ -------------- ----- -----------------------------------------------------------
Proveca 9,569 9.0 UK based pharma company specialising in medicines
Limited for children.
------------ -------------- ----- -----------------------------------------------------------
Quantexa 9,126 8.6 Network analytics platform to detect financial crime.
Limited
------------ -------------- ----- -----------------------------------------------------------
Egress 5,845 5.5 Encrypted email and file transfer service provider.
Software
Technologies
Limited
------------ -------------- ----- -----------------------------------------------------------
Chonais 3,199 3.0 Owner and operator of a 2 MW hydro-power scheme in
River Hydro the Scottish Highlands.
Limited
------------ -------------- ----- -----------------------------------------------------------
Oviva AG 2,982 2.8 Technology enabled service business in medical nutritional
therapy (MNT).
------------ -------------- ----- -----------------------------------------------------------
MyMeds&Me 1,899 1.8 Provides a platform for collecting data from pharmaceutical
Limited adverse events.
------------ -------------- ----- -----------------------------------------------------------
The Street 1,838 1.7 Owner and operator of photovoltaic systems on domestic
by Street properties in the UK.
Solar
Programme
Limited
------------ -------------- ----- -----------------------------------------------------------
Sift Limited 1,698 1.6 Web based provision of online business and community
management solutions.
------------ -------------- ----- -----------------------------------------------------------
Phrasee 1,689 1.6 AI platform that generates optimised marketing campaigns.
Limited
------------ -------------- ----- -----------------------------------------------------------
The Evewell 1,666 1.6 Operator and developer of women's health centres focusing
Group on fertility.
Limited
------------ -------------- ----- -----------------------------------------------------------
Share buy-backs
During the period from 1 July 2021 to 30 September 2021, the
Company purchased 1,682,551 shares for GBP357,000 (including stamp
duty) at an average price of 21.14 pence per share. All of the
shares are to be held in treasury.
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.
Fundraising
The Company announced on 18 October 2021 that, subject to
obtaining the requisite regulatory approval, it intended to launch
a prospectus top up offer of new ordinary shares. Full details of
the Offer will be contained in a prospectus that is expected to be
published in early January 2022.
Material events and transactions after the period end
The Company had no material investment transactions following
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
www.albion.capital/funds/KAY.
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 under
www.albion.capital/funds/KAY.
Fiona Wollocombe, Chairman
25 November 2021
For further information please contact:
Vikash Hansrani
Operations Partner
Albion Capital Group LLP -- Tel: 020 7601 1850
(END) Dow Jones Newswires
November 25, 2021 09:23 ET (14:23 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Kings Arms Yard Vct (LSE:KAY)
Historical Stock Chart
From Feb 2024 to Mar 2024
Kings Arms Yard Vct (LSE:KAY)
Historical Stock Chart
From Mar 2023 to Mar 2024