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AATG Albion Technology & General Vct Plc

69.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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

Albion Tech&Gen VCT Albion Technology & General Vct Plc - Ordinary Shares : Interim Management Statement

04/06/2019 10:30am

UK Regulatory


 
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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