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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Albion Enterprise Vct Plc | LSE:AAEV | London | Ordinary Share | GB00B1G3LR35 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 119.50 | 118.00 | 121.00 | 119.50 | 119.50 | 119.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 5.74M | 2.77M | 0.0274 | 43.61 | 120.55M |
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 October 2016 to 7 February 2017. Performance and dividends The Company's unaudited net asset value (NAV) as at 31 December 2016 was GBP45.97 million or 99.94 pence per share (excluding treasury shares). An increase of 2.55 pence per share (2.62 per cent.) since 30 September 2016. This is a result of an increase in investment valuations and an excess of investment income over expenses. After accounting for a dividend of 2.50 pence per share, due to be paid on 28 February 2017 to shareholders on the register as at 10 February 2017, the NAV will be 97.44 pence per share. Share issues During the period from 1 October 2016 to 7 February 2017, the Company issued a total of 3,984,807 new Ordinary shares under the Albion VCTs Prospectus Top Up Offers 2016/2017 made up as follows: Issue price per Number of shares share (including Net proceeds Date issued costs of issue) GBP'000 31 January 2017 892,917 99.40 870 31 January 2017 309,346 99.90 301 31 January 2017 2,782,544 100.50 2,713 Total 3,984,807 3,884 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. A Securities Note which forms part of the Prospectus can be found on the website www.albion-ventures.co.uk. The Offer will close on 29 September 2017 (unless fully subscribed earlier). Share buy-backs During the period from 1 October 2016 to 7 February 2017, the Company purchased 71,000 shares for GBP62,000 at an average price of 87.37 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 per cent. discount to the most recently announced net asset value, so far as market conditions and liquidity permit. Portfolio The following investments have been made during the period from 1 October 2016 to 7 February 2017: New investments GBP000's Activity Convertr Media Limited 583 Digital marketing software Beddlestead Farm Limited 10 Wedding venue operator Total new investments 593 Further investments GBP000's Activity Proveca Limited 245 Reformulation of paediatric medicines Data analysis that supports corporate Black Swan Data Limited 137 decision making Mirada Medical Limited 85 Developer of medical imaging software Validation and discovery of serum Abcodia Limited 71 biomarkers Total further investments 538 Disposals and loan stock repayment The following disposals were made during the period from 1 October 2016 to 7 February 2017: Name GBP000's Exco Intouch Limited 2,871 Disposal of investment Radnor House School (Holdings) Limited 98 Loan stock repayment Top ten holdings as at 31 December 2016: % of net Carrying value asset Investment GBP000's value Activity Radnor House School (Holdings) Limited 5,976 13.0% Independent schools for children aged 5-18 Egress Software Technologies Limited 2,533 5.5% Encrypted email & file transfer service provider Bravo Inns II Limited 2,386 5.2% Owner and operator of freehold pubs Mirada Medical Limited 1,925 4.2% Developer of medical imaging software Proveca Limited 1,868 4.1% Reformulation of paediatric medicines Regenerco Renewable Energy Generator of renewable energy from roof top solar Limited 1,737 3.8% installations Earnside Energy Limited 1,678 3.7% An anaerobic digestion plant in Scotland Alto Prodotto Owns and operates community scale wind energy projects Wind Limited 1,532 3.3% on brownfield sites in the UK Greenenerco Installs, owns & operates a 500kW wind project in Limited 1,531 3.3% the UK The Street by Street Solar Programme Photovoltaic installations on domestic roofs in the Limited 1,341 2.9% South of England Process Systems Enterprise Limited 1,283 2.8% Process modelling software and services A full breakdown of the Company's portfolio can be found on the Company's webpage on the Manager's website under Portfolio of investments at www.albion-ventures.co.uk/funds/AAEV. Material events and transactions 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 October 2016 to 7 February 2017. Further information The Company continues to offer a Dividend Reinvestment Scheme to existing shareholders. Details of this scheme can be found at www.albion-ventures.co.uk/funds/AAEV. 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-ventures.co.uk/funds/AAEV. Maxwell Packe Chairman 7 February 2017 For further information please contact: Patrick Reeve, Albion Ventures LLP - Tel: 020 7601 1850 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
February 07, 2017 07:40 ET (12:40 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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