Albion EnterpriseVCT Albion Enterprise Vct Plc : Interim Management Statement

 
TIDMAAEV 
 
 
   ALBION ENTERPRISE VCT PLC 
 
   Interim Management Statement 
 
   Introduction 
 
   I am pleased to present Albion Enterprise VCT PLC (the "Company")'s 
interim management statement for the period from 1 April 2017 to 30 June 
2017. 
 
   Performance and dividends 
 
   The Company's unaudited net asset value (NAV) as at 30 June 2017 was 
GBP52.23 million or 100.78 pence per share (excluding treasury shares), 
a decrease of 1.01 pence per share (1.00 per cent.) since 31 March 2017. 
 
   After accounting for the dividend of 2.50 pence per share to be paid on 
31 August 2017 to shareholders on the register on 4 August 2017, the NAV 
is 98.28 pence per share. 
 
   Portfolio 
 
   The following investments have been made during the period from 1 April 
2017 to 30 June 2017: 
 
 
 
 
New investments  GBP000s                           Activity 
MPP Global 
Solutions                 Offers a cloud billing platform for enterprise subscription 
Limited            950         businesses in the media, sport and retail sectors 
G.Network 
Communications 
Limited            273         Fibre optic broadband provider in central London 
Locum's Nest 
Limited            100         Operates a digital platform for NHS locum doctors 
Total new 
 investments       1,323 
 
 
 
 
Further investments           GBP000s  Activity 
Grapeshot Limited               167    Provider of digital marketing software 
Panaseer Limited                100    Provides a cyber security service 
Mirada Medical Limited          85     Develops medical imaging software 
                                       Healthcare informatics and analysis 
Aridhia Informatics Limited     15     provider 
Total further investments         367 
 
 
   Top ten holdings (as at 30 June 2017) 
 
 
 
 
                               % of 
                                net 
               Carrying value  asset 
Investment         GBP000s     value                         Activity 
Radnor House 
School 
(Holdings) 
Limited            5,927       11.3%       Independent schools for children aged 5-18. 
Egress 
Software 
Technologies 
Limited            3,468       6.6%      Encrypted email & file transfer service provider 
Bravo Inns II 
 Limited                2,483   4.8%                     Owner and operator of freehold pubs 
Mirada 
 Medical 
 Limited                2,288   4.4%                   Developer of medical imaging software 
Grapeshot 
 Limited                2,166   4.1%                  Provider of digital marketing software 
Proveca 
 Limited                1,910   3.7%                   Repositioning of paediatric medicines 
Regenerco 
Renewable 
Energy                                     Generator of renewable energy from roof top solar 
Limited                 1,752   3.4%                                           installations 
Earnside 
 Energy 
 Limited                1,667   3.2%                            An anaerobic digestion plant 
Alto Prodotto      1,530       2.9%   Owns and operates community scale wind energy projects 
 Wind                                  on brownfield sites in the UK 
 Limited 
Greenenerco        1,435       2.7%   Owns & operates a 500kW wind project in the UK 
 Limited 
 
 
   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 2017 to 30 June 2017, there were no share 
buy-backs undertaken by the Company. 
 
   Fundraising and share issues 
 
   During the period from 1 April 2017 to 7 April 2017, the Company issued 
the following shares under the Albion VCTs Prospectus Top Up Offers 
2016/2017: 
 
 
 
 
                                       Issue price per 
                 Number of shares     share (including     Net consideration 
Date                  issued           costs of issue)      received GBP'000 
7 April 2017                294,610      99.4p to 100.5p                   287 
 
 
   The Offer was fully subscribed and raised net proceeds of GBP5.82 
million. The proceeds of the Offer are being used to provide further 
resources to the Company at a time when a number of attractive new 
investment opportunities are being seen. 
 
   Material events and transactions after the period end 
 
   Portfolio 
 
   After the period end, the Company had the following material investment 
transactions: 
 
 
   -- Investment of GBP1,172,000 in Egress Software Technologies Limited, which 
      provides an encrypted email & file transfer service; 
 
   -- Investment of GBP273,000 in G.Network Communications Limited, which 
      provides fibre optic broadband in central London; 
 
   -- Investment of GBP211,100 in Black Swan Data Limited, which provides data 
      analysis that supports corporate decision making; 
 
   -- Investment of GBP53,000 in Abcodia Limited, which delivers validation and 
      discovery of serum biomarkers; 
 
   -- Investment of GBP15,000 in Aridhia Informatics Limited, which provides 
      healthcare informatics and analysis; 
 
   -- Investment of GBP10,000 in Beddlestead Farm Limited, which is a seed 
      investment to develop and operate dedicated wedding venues in the UK. 
 
 
   There have been no further significant events or transactions that the 
Board is aware of which would have a material impact on the financial 
position of the Company between 1 April 2017 to 22 August 2017. 
 
   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 
 
   22 August 2017 
 
   For further information please contact: 
 
   Patrick Reeve, Albion Capital Group LLP - Tel: [phone] 
 
   LEI Code: 213800OVSRDHRJBMO720 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Albion Enterprise VCT PLC via Globenewswire 
 
 
  http://www.closeventures.co.uk 
 

(END) Dow Jones Newswires

August 22, 2017 11:30 ET (15:30 GMT)

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