30 January
2025
Mindflair
plc
("Mindflair" or the "Company")
Net asset value
update
Mindflair, the company investing in
next-generation technology focused on AI, is pleased to provide an
NAV update in relation to certain of its investments, namely the
first Sure Valley Ventures fund ("SVV1") and Sure Ventures plc ("SV
plc") which have both just published their net asset values
("NAVs") as at 31 December 2024. Mindflair holds a 13% direct
interest in SVV1 and a 23.6% interest Sure Ventures plc, who in
turn has a 25.9% holding in SVV1.
As at 30 June 2024, the date of the
Company's interim results for the six months to 30 June 2024, the
value of the Company's investment in SVV1 amounted to £5,445,702.
This is based on SVV1's NAV calculation as provided to its
investors. As at 31 December 2024, this figure had increased by
£1,907,675 (or 35%) to £7,353,377.
As at 30 June 2024, the value of the
Company's investment in SV plc amounted to £1,088,225. This was
based on the SV plc share price of 72.5 pence as at that date. SV
plc's NAV at 31 December 2024 amounted to 148 pence per SV plc
share. As at 31 December 2024, the value of Mindflair's investment
in SV plc, which includes an additional investment of £300,000 made
in August 2024, was £1,489,768, based on the SV plc share price of
82 pence as at that date. SV plc's NAV at 31 December 2024 amounted
to 181 pence per SV plc share. Since 31 December 2024, SV plc's
share price has increased to 97.5 pence as of 29 January
2025.
This increase in value of both
investments has principally been driven by the impact of the
increasing valuation of Infinite Reality ("iR") which forms part of
the SVV1 portfolio as a result of SVV1's sale of its holding in
Landvault to iR as announced in July 2024.
Nicholas Lee, a Director of
Mindflair, said:
"It is very encouraging to see how two material investments
within the Company's portfolio have significantly increased in
value over the last six months. We look forward to providing
further updates on the portfolio in due
course."
This announcement contains inside
information for the purposes of the UK Market Abuse Regulation and
the Directors of the Company are responsible for the release of
this announcement. The person who arranged for the release of this
information is Nicholas Lee, a director of the Company.
Enquiries:
|
Mindflair plc
Nicholas Lee, Director
|
Tel: +44 (0) 20 3368 8961
|
|
Nominated Adviser
Cairn Financial Advisers
LLP
Liam Murray/Ludovico
Lazzaretti
|
Tel: +44 (0) 20 7213 0880
|
|
Joint broker
Peterhouse Capital
Limited
Duncan Vasey/Lucy
Williams
|
Tel: +44 (0) 20 7469 0935
Tel: +44 (0) 20 7469 0936
|
|
Joint broker
Shard Capital Partners
LLP
Damon Heath
|
Tel: +44 (0) 20 7601 6100
|
Notes to Editors
Mindflair plc (AIM: MFAI) is an
investment company providing investors with access to a portfolio
of next generation technology businesses focused on AI with
significant growth potential. The Company is building an investment
portfolio of high-tech businesses focused on Artificial
Intelligence, across such areas as Internet of Things, Cyber
Security, Machine Learning, Immersive Technologies and Big Data,
which the Board believes demonstrate evidence of traction and the
potential for exponential growth, due to increasing global demand
for development in these sectors. For further information, visit:
http://www.mindflair.tech/.
