Albion Enterprise VCT PLC: Interim Management Report
03 Septembre 2024 - 12:40PM
UK Regulatory
Albion Enterprise VCT PLC: Interim Management Report
ALBION ENTERPRISE VCT PLC
LEI Code: 213800OVSRDHRJBMO720
Interim Management Statement
Introduction
I present Albion Enterprise VCT PLC (the “Company”)’s interim
management statement for the period from 1 April 2024 to 30 June
2024.
Performance and dividends
As announced on 16 August 2024, the Company's unaudited net asset
value (“NAV”) on 30 June 2024 was £152.7 million or 136.10 pence
per share (excluding treasury shares). This is an increase of 10.33
pence per share (8.2%) since 31 March 2024, and a 4.6% increase on
the adjusted NAV announced on 2 July 2024.
After accounting for the first interim dividend
for the year ending 31 March 2025 of 3.14 pence per share paid on
30 August 2024 to shareholders on the register on 2 August 2024,
the NAV is 132.96 pence per share.
Fundraising and share
issues
During the period from 1 April 2024 to 30 June 2024, the Company
issued the following new Ordinary shares of nominal value 1 penny
per share under the Albion VCTs Prospectus Top Up Offers
2023/24:
Date |
Number of shares issued |
Issue price per share (including costs of
issue) |
Net proceeds £’000 |
16 April 2024 |
364,219 |
128.70p – 130.03p |
459 |
Portfolio
The following investments have been made during the period from 1
April 2024 to 30 June 2024:
New investments |
£000s |
Activity |
Papaya Technologies |
944 |
Multi-sided marketplace for the EV ecosystem |
Instinct Digital |
943 |
Investment communication platform for the Asset Management
Industry |
Trumpet Software |
755 |
A digital sales room software and a collaboration platform
for B2B interactions |
GetLeast (Kato) |
576 |
Platform that digitises workflows of Commercial Real
Estate |
Total new investments |
3,218 |
|
Further investments |
£000s |
Activity |
Imandra Inc. |
641 |
Provider of automated software testing and an enhanced learning
experience for artificial neural networks |
GX Molecular Inc (CS Genetics) |
143 |
Develop single-cell sequencing solutions |
Tem Energy |
105 |
Energy trading platform |
Healios |
58 |
Provider of an online platform delivering family centric
psychological care primarily to children and adolescents |
Incrowd Sports |
22 |
Developer of mobile apps for professional sports
clubs |
Total further investments |
969 |
|
Top ten holdings (on 30 June
2024)
Investment |
Carrying value
£000s |
% of net asset value |
Activity |
Quantexa |
27,705 |
18.1% |
Network analytics platform to detect financial crime |
Egress Software Technologies |
25,653 |
16.8% |
Encrypted email & file transfer service provider |
Proveca |
8,540 |
5.6% |
Reformulation of medicines for children |
Oviva |
5,633 |
3.7% |
A technology enabled service business in medical nutritional
therapy (MNT) |
Radnor House School (TopCo) |
3,528 |
2.3% |
Independent school for children aged 2-18 |
Gravitee TopCo |
3,499 |
2.3% |
API management platform |
The Evewell Group |
3,117 |
2.0% |
Operator and developer of women’s health centres focusing on
fertility |
Healios |
3,108 |
2.0% |
Provider of an online platform delivering family centric
psychological care primarily to children and adolescents |
Panaseer |
2,369 |
1.6% |
Provider of cyber security services |
Runa Network |
2,285 |
1.5% |
Cloud platform and infrastructure that enables corporates to
issue digital incentives and payouts |
A full breakdown of the Company’s portfolio can
be found on the Company’s webpage on the Manager’s website at
www.albion.capital/funds/AAEV.
Share buy-backs
During the period from 1 April 2024 to 30 June 2024, the Company
did not buy back any shares.
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.
Material events and transactions after
the period end
After the period end, legal completion of the sale in Egress
Technologies on 1 July 2024 with £24,324,000 funds received.
Further information
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 at
www.albion.capital/funds/AAEV.
Maxwell Packe, Chairman
3 September 2024
For further information please contact:
Vikash Hansrani
Operations Partner
Albion Capital Group LLP
Telephone: 020 7601 1850
Albion Enterprise Vct (LSE:AAEV)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Albion Enterprise Vct (LSE:AAEV)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024