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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 0.0% 75.00 73.50 76.50 75.00 75.00 75.00 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.6 -0.2 -0.2 - 83

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

27/05/2021 10:58am

UK Regulatory (RNS & others)


 
TIDMAATG 
 
   Albion Technology & General VCT PLC 
 
   Interim Management Statement 
 
   LEI code: 213800TKJUY376H3KN16 
 
   Introduction 
 
   I present Albion Technology & General VCT PLC's (the "Company")'s 
interim management statement for the period from 1 January 2021 to 31 
March 2021. 
 
   Performance and dividends 
 
   The Company's unaudited net asset value (NAV) as at 31 March 2021 was 
GBP93.98 million or 70.33 pence per share (excluding treasury shares), 
an increase of 0.98 pence per share or 1.41 per cent. since 31 December 
2020. 
 
   Fundraising and share issuances 
 
   During the period from 1 January 2021 to 31 March 2021, the Company 
issued the following new Ordinary shares of nominal value 1 penny per 
share under the Albion VCTs Prospectus Top Up Offers 2020/21: 
 
 
 
 
                                           Issue price per share 
                      Number of shares      (including costs of   Net proceeds 
Date                       issued                 issue)             GBP'000 
-----------------  ----------------------  ---------------------  ------------ 
26 February 2021               21,121,379         70.3p to 71.1p        14,641 
-----------------  ----------------------  ---------------------  ------------ 
 
   Portfolio 
 
   The following investments have been made during the period from 1 
January 2021 to 31 March 2021: 
 
 
 
 
New investments   GBP'000                          Activity 
----------------  -------  --------------------------------------------------------- 
                           Provider of data lineage software to enterprise customers 
Threadneedle                   in regulated sectors, which allows them to rapidly 
Software Limited               discover, visualise, catalogue and understand how 
(T/A Solidatus)    1,014                data flows through their systems 
----------------  -------  --------------------------------------------------------- 
Total new 
 investments        1,014 
----------------  -------  --------------------------------------------------------- 
 
 
 
 
 
 
Further 
investments      GBP'000                          Activity 
---------------  -------  --------------------------------------------------------- 
Black Swan Data 
Limited            890            Predictive analytics for consumer brands 
---------------  -------  --------------------------------------------------------- 
                          Provider of an online platform delivering family centric 
Healios Limited    418     psychological care primarily to children and adolescents 
---------------  -------  --------------------------------------------------------- 
ePatient 
Network Limited              Online community connecting people affected by rare 
(T/A Raremark)     46                              diseases 
---------------  -------  --------------------------------------------------------- 
Total further 
 investments       1,354 
---------------  -------  --------------------------------------------------------- 
 
 
   The following disposals were made during the period from 1 January 2021 
to 31 March 2021: 
 
 
 
 
Portfolio Company           GBP'000 
--------------------------  -------  ----------------------------------------- 
                                        Disposal of investment on a cost of 
OmPrompt Holdings Limited     700                   GBP306,000 
--------------------------  -------  ----------------------------------------- 
                                        Disposal of investment on a cost of 
SBD Automotive Limited        567                   GBP273,000 
--------------------------  -------  ----------------------------------------- 
Total proceeds                1,267 
--------------------------  ------- 
 
 
   Top ten holdings as at 31 March 2021: 
 
 
 
 
                                  % of 
                                   net 
                  Carrying value  asset 
Investment            GBP'000     value                       Activity 
----------------  --------------  -----  -------------------------------------------------- 
                                           Network analytics platform to detect financial 
Quantexa Limited      7,978        8.5                         crime 
----------------  --------------  -----  -------------------------------------------------- 
Radnor House 
School (TopCo) 
Limited               4,671        5.0       Independent school for children aged 2-18 
----------------  --------------  -----  -------------------------------------------------- 
                                         UK based pharma company specialising in medicines 
Proveca Limited       4,256        4.5                      for children 
----------------  --------------  -----  -------------------------------------------------- 
Chonais River                            Owner and operator of a 2 MW hydro-power scheme in 
Hydro Limited         3,965        4.2                 the Scottish Highlands 
----------------  --------------  -----  -------------------------------------------------- 
                                         A developer and producer of industrial sensors for 
Oxsensis Limited      3,697        3.9       use in ultra-high temperature environments 
----------------  --------------  -----  -------------------------------------------------- 
Egress Software 
Technologies 
Limited               2,489        2.6    Encrypted email & file transfer service provider 
----------------  --------------  -----  -------------------------------------------------- 
Black Swan Data 
 Limited                   2,378    2.5            Predictive analytics for consumer brands 
----------------  --------------  -----  -------------------------------------------------- 
The Evewell           2,308        2.5   Operator of a women's health centre focusing on 
 (Harley Street)                         fertility 
 Limited 
----------------  --------------  -----  -------------------------------------------------- 
Gharagain River       2,219        2.4   Owner and operator of a 1 MW hydro-power scheme in 
 Hydro Limited                            the Scottish Highlands 
----------------  --------------  -----  -------------------------------------------------- 
Phrasee Limited       1,771        1.9   AI platform that generates optimised marketing 
                                         campaigns 
----------------  --------------  -----  -------------------------------------------------- 
 
   Share buy-backs 
 
   During the period from 1 January 2021 to 31 March 2021, 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. 
 
   Board Composition 
 
   I have had the privilege of being Chairman of your Company since its 
launch in 2000 and I am retiring today following the Annual General 
Meeting. Robin Archibald, who has been on the Board as Audit Committee 
Chairman since 2013, will succeed me as Chairman of the Board, and 
Margaret Payn will succeed Robin as chairman of the Audit Committee. 
Modwenna Rees Mogg will retire from the Board in September 2021 after 
serving for nine years as a non-executive director of the Company. Mary 
Anne Cordeiro and Patrick Reeve will continue as non-executive directors 
of the Company, with Patrick, given his role as chairman of the Manager, 
being regarded as non-independent. The continuing Board will further 
consider succession planning in due course but has adequate skills and 
experience to oversee the activities of the Company during such time. 
 
   Material events and transactions after the period end 
 
   After the period end, the Company had the following material investment 
transactions: 
 
 
   -- Investment of GBP490,000 in a new portfolio company, an open source API 
      management platform that enables enterprises to manage their APIs through 
      their lifecycle (from design to publishing to controlling access and 
      security); 
 
   -- Investment of GBP370,000 in an existing portfolio company, Panaseer 
      Limited, a provider of cyber security services; and 
 
   -- Investment of GBP181,000 in a new portfolio company, Accelex Technology 
      Limited (T/A Accelex), a provider of data extraction and analytics 
      technology for private capital markets 
 
 
   Other than as described above, there have been no material events or 
transactions during the quarter and to the date of this announcement. 
 
   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/AATG. 
 
   Dr. Neil Cross, Chairman 
 
   27 May 2021 
 
   For further information please contact: 
 
   Vikash Hansrani 
 
   Operations Partner 
 
   Albion Capital Group LLP 
 
   Telephone: 020 7601 1850 
 
 
 
 
 
 

(END) Dow Jones Newswires

May 27, 2021 05:58 ET (09:58 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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