Kings Arms Yard VCT PLC: Interim Management Statement
26 November 2021 - 1:23AM
Kings Arms Yard VCT PLC: Interim Management Statement
Kings Arms Yard VCT
PLC Interim Management StatementLEI Code
213800DK8H27QY3J5R45
IntroductionI 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 dividendsThe
Company’s unaudited net asset value (NAV) as at 30 September 2021
was £106.5 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 |
£’000 |
Activity |
Oviva AG |
829 |
Technology enabled service business in medical nutritional therapy
(MNT). |
The Evewell Group Limited |
386 |
Operator and developer of women’s health centres focusing on
fertility. |
Imandra Inc. |
47 |
Provider of automated software testing and an enhanced 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:
Portfolio Company |
Cost£’000 |
Proceeds£’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 company |
Carrying
value£’000 |
% of net asset
value |
Activity |
Proveca Limited |
9,569 |
9.0 |
UK based pharma company specialising in medicines for
children. |
Quantexa Limited |
9,126 |
8.6 |
Network analytics platform to detect financial crime. |
Egress Software Technologies Limited |
5,845 |
5.5 |
Encrypted email and file transfer service provider. |
Chonais River Hydro Limited |
3,199 |
3.0 |
Owner and operator of a 2 MW hydro-power scheme in the Scottish
Highlands. |
Oviva AG |
2,982 |
2.8 |
Technology enabled service business in medical nutritional therapy
(MNT). |
MyMeds&Me Limited |
1,899 |
1.8 |
Provides a platform for collecting data from pharmaceutical
adverse events. |
The Street by Street Solar Programme Limited |
1,838 |
1.7 |
Owner and operator of photovoltaic systems on domestic properties
in the UK. |
Sift Limited |
1,698 |
1.6 |
Web based provision of online business and community management
solutions. |
Phrasee Limited |
1,689 |
1.6 |
AI platform that generates optimised marketing campaigns. |
The Evewell Group Limited |
1,666 |
1.6 |
Operator and developer of women’s health centres focusing on
fertility. |
Share buy-backsDuring the
period from 1 July 2021 to 30 September 2021, the Company purchased
1,682,551 shares for £357,000 (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 endThe 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 informationThe 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, Chairman25 November 2021
For further information please contact: Vikash
HansraniOperations PartnerAlbion Capital Group LLP – Tel: 020 7601
1850
Kings Arms Yard Vct (LSE:KAY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Kings Arms Yard Vct (LSE:KAY)
Historical Stock Chart
From Apr 2023 to Apr 2024