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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Albion Technology & General Vct Plc | LSE:AATG | London | Ordinary Share | GB0005581672 | 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% | 69.00 | 67.50 | 70.50 | 69.00 | 69.00 | 69.00 | 1,516 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | -2.85M | -6.3M | -0.0354 | -19.49 | 122.68M |
TIDMAATG Albion Technology & General VCT PLC Interim Management Statement LEI code: 213800TKJUY376H3KN16 Introduction I am pleased to present Albion Technology & General VCT PLC (the "Company")'s interim management statement for the period from 1 January 2019 to 31 March 2019. Performance and dividends The Company's unaudited net asset value (NAV) as at 31 March 2019 was GBP80.3 million or 78.6 pence per share (excluding treasury shares), an increase of 1.2 pence per share or 1.6 per cent. since 31 December 2018. Share buy-backs During the period from 1 January 2019 to 31 March 2019, the Company purchased 993,000 shares for GBP736,000 including stamp duty, at an average price of 73.73 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 material investment has been made during the period from 1 January 2019 to 31 March 2019: New GBP000s Activity investment ----------- ------- -------------------------------------------------------- Avora 400 Developer of software to improve decision making through Limited augmented analytics & machine learning ----------- ------- -------------------------------------------------------- Top ten holdings as at 31 March 2019: % of net Carrying value asset Investment GBP'000 value Activity --------------- -------------- ----- ---------------------------------------------------- Radnor House School (Holdings) Limited 11,452 14.3 Independent schools for children aged 5-18 --------------- -------------- ----- ---------------------------------------------------- Process Systems Enterprise Limited 5,335 6.6 Process modelling software and services --------------- -------------- ----- ---------------------------------------------------- Chonais River Owner and operator of a 2 MW hydro-power scheme in Hydro Limited 4,166 5.2 the Scottish Highlands --------------- -------------- ----- ---------------------------------------------------- Bravo Inns II Limited 3,479 4.3 Owner and operator of freehold pubs --------------- -------------- ----- ---------------------------------------------------- Mirada Medical 3,262 4.1 Developer of medical imaging software using Deep Limited Learning --------------- -------------- ----- ---------------------------------------------------- Quantexa 3,202 4.0 Network analytics platform to detect financial crime Limited --------------- -------------- ----- ---------------------------------------------------- Earnside Energy 2,526 3.1 Anaerobic digestion and composting plant located in Limited Scotland --------------- -------------- ----- ---------------------------------------------------- Proveca Limited 2,290 2.9 Reformulation of medicines for paediatric use --------------- -------------- ----- ---------------------------------------------------- G.Network 2,271 2.8 Ultra-fast fibre optic broadband provider in central Communications London Limited --------------- -------------- ----- ---------------------------------------------------- Gharagain River 2,197 2.7 Owner and operator of a 1 MW hydroelectricity plant Hydro Limited in the Scottish Highlands --------------- -------------- ----- ---------------------------------------------------- A full breakdown of the Company's portfolio can be found on the Company's webpage on the Manager's website at https://www.globenewswire.com/Tracker?data=JNK75OdDbjCyRJS6FU73wun3D-W_6Qs-aNFb-YrtpnVHuWHUIOLFgV4qEcCac-UETkNf-C40BS9qz-MZzuG342A2eozxqimqFRKWQwUqvdV9SxE9-It3ggF35bP8qJ7T www.albion.capital/funds/AATG, by following the 'Portfolio of Investments' link under the 'Fund reports' section. Material events and transactions after the period end Portfolio After the period end, the Company undertook the following transactions: -- Disposal of Earnside Energy for GBP2.5 million; -- Investment of GBP455,000 in an existing portfolio company, Proveca, which develops drugs specifically formulated for children; -- Investment of GBP380,000 in a new portfolio company, Limitless Technology, which provides a customer service platform powered by crowd and machine learning technology; and -- Investment of GBP151,000 in a new portfolio company, Imandra, which provides automated software testing and an enhanced learning experience for artificial neural networks. Albion VCTs prospectus Top Up Offers The Board announced on 5 April 2019 that the Company had reached its GBP8 million limit under its offer pursuant to the Prospectus dated 7 January 2019, and so was closed. The proceeds of the Offer will be used to provide further resources at a time when a number of attractive investment opportunities are being seen. The following new Ordinary shares of nominal value 1 penny per share were allotted under the Albion VCTs prospectus Top Up Offers 2018/19 after 31 March 2019: Aggregate Number of nominal value Issue price per Date of shares of shares share (including Net proceeds allotment issued GBP'000 costs of issue) GBP'000 --------------- ------------- ------------- ---------------- ------------- 1 April 2019 7,904,507 79 78.6p to 79.4p 6,120 --------------- ------------- ------------- ---------------- ------------- 5 April 2019 1,795,802 18 79.4p 1,390 --------------- ------------- ------------- ---------------- ------------- 12 April 2019 379,988 4 78.6p to 79.4p 294 --------------- ------------- ------------- ---------------- ------------- Total 10,080,297 101 7,804 --------------- ------------- ------------- ---------------- ------------- Material events and transactions There have been no further significant events or transactions between 1 April 2019 and 4 June 2019 that the Board is aware of which would have had a material impact on the financial position of the Company. 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 https://www.globenewswire.com/Tracker?data=JNK75OdDbjCyRJS6FU73wun3D-W_6Qs-aNFb-YrtpnWyQpF3IAep1X64xw1EhPZny5BeTlmacZloedBg63nUeyGDD5DVRhpeYNkiJBXhGCn31GzuBBYibuy46XiFmQzz www.albion.capital/funds/AATG. Dr. Neil Cross, Chairman 4 June 2019 For further information please contact: Albion Capital Group LLP -- tel: 020 7601 1850
(END) Dow Jones Newswires
June 04, 2019 05:30 ET (09:30 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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