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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Albion Venture Capital Trust Plc | LSE:AAVC | London | Ordinary Share | GB0002039625 | 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% | 43.20 | 42.20 | 44.20 | 43.20 | 43.20 | 43.20 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trust,ex Ed,religious,charty | 1.78M | 125k | 0.0009 | 480.00 | 60.25M |
TIDMAAVC ALBION VENTURE CAPITAL TRUST PLC Interim Management Statement Introduction I am pleased to present Albion Venture Capital Trust 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 GBP66.0 million or 75.7 pence per share (excluding treasury shares), an increase of 0.3 pence per share (0.4 per cent.) since 31 March 2017. After accounting for the dividend paid of 2.5 pence per share on 31 July 2017 to shareholders on the register on 7 July 2017, the NAV is 73.2 pence per share. Portfolio During the period from 1 April 2017 to 30 June 2017, an investment of GBP228,000 was made in a new portfolio company, G. Network Communications Limited, which is a provider of fibre optic broadband to SMEs in central London. Top ten holdings (as at 30 June 2017) Investment Carrying value % of Activity GBP000's net asset value Shinfield 10,627 16.1% Owns and operates a 66 bed care home in Shinfield, Lodge Care Berkshire. Limited Active 6,789 10.3% Owns and operates a 75 bed care home in Cumnor Hill, Lives Care Oxfordshire. Limited Kew Green 6,723 10.2% Operator of a Holiday Inn Express hotel at Stansted VCT Airport. (Stansted) Limited Ryefield 5,697 8.6% Owns and operates a 60 bed care home in Hillingdon, Court Care Middlesex. Limited Radnor 4,316 6.5% Independent schools for children aged 5-18. House School (Holdings) Limited Chonais 3,771 5.7% Owner and operator of a 2 MW hydro-power scheme in River the Scottish Highlands. Hydro Limited The Crown 3,087 4.7% Owner and operator of a 114 bedroom hotel located Hotel in Harrogate, Yorkshire. Harrogate Limited The 2,252 3.4% Boutique hotel located near Heathrow terminal 5. Stanwell Hotel Limited Earnside 1,613 2.4% Anaerobic digestion and composting plant located in Energy Scotland. Limited Gharagain 1,538 2.3% Owner and operator of a 1 MW hydroelectricity plant River in Western Scotland. Hydro 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/AAVC. 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 365,978 74.5p to 75.3p 267 The Offer was fully subscribed and raised net proceeds of GBP5.83 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 GBP340,000 in an existing portfolio company, Ryefield Court Care Limited, which owns and operates a 60 bed care home in Hillingdon, Middlesex; -- Investment of GBP280,000 in an existing portfolio company, Active Lives Care Limited, which owns and operates a 75 bed care home in Cumnor Hill, Oxfordshire; and -- Investment of GBP8,000 in an existing portfolio company, Beddlestead Farm Limited, which is a seed investment to develop and operate dedicated wedding venues in the UK. Share price The closing mid-market price for the shares on 14 August 2017 was 71.0 pence per share, a 3.0 per cent. discount to the net asset value at 30 June 2017 of 73.2 pence per share (after accounting for the dividend of 2.5 pence per share paid on 31 July 2017). 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 14 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/AAVC. David Watkins, Chairman 14 August 2017 For further information please contact: Patrick Reeve, Albion Capital Group LLP - Tel: 020 7601 1850 LEI Code: 213800JKELS32V2OK421 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 Venture Capital Trust PLC via Globenewswire http://www.closeventures.co.uk
(END) Dow Jones Newswires
August 14, 2017 05:53 ET (09:53 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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