Albion Ven Cap Trust Albion Venture Capital Trust Plc: Interim Management Statement

 
TIDMAAVC 
 
   ALBION VENTURE CAPITAL TRUST PLC 
 
   LEI Code: 213800JKELS32V2OK421 
 
   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 
2018 to 30 June 2018. 
 
   Performance and dividends 
 
   The Company's unaudited net asset value (NAV) as at 30 June 2018 was 
GBP66.2 million or 76.5 pence per share (excluding treasury shares), an 
increase of 0.5 pence per share (0.7 per cent.) since 31 March 2018. 
 
   After accounting for the dividend paid of 2.5 pence per share on 31 July 
2018 to shareholders on the register on 13 July 2018, the NAV is 74.0 
pence per share. 
 
   Portfolio 
 
   The following investments have been made during the period from 1 April 
2018 to 30 June 2018: 
 
 
 
 
Name               GBP000's  Activity 
-----------------  --------  --------------------------------------------------------- 
uMotif Limited               A patient engagement and data capture platform for 
(new investment)     120      use in real world and observational research 
-----------------  --------  --------------------------------------------------------- 
Healios Limited              Provider of an online platform delivering family centric 
(new investment)      65      psychological care primarily to children and adolescents 
-----------------  --------  --------------------------------------------------------- 
Total                   185 
-----------------  -------- 
 
 
   Disposals 
 
   The following disposals were made during the period from 1 April 2018 to 
30 June 2018: 
 
 
 
 
Portfolio company          GBP000's 
-------------------------  --------  ----------------------------------------- 
Kew Green VCT (Stansted)                 Repayment of loan stock and share 
 Limited                    4,676                    premium. 
-------------------------  --------  ----------------------------------------- 
Total proceeds                4,676 
-------------------------  -------- 
 
 
   Top ten holdings (as at 30 June 2018) 
 
 
 
 
                                          % of net 
                         Carrying value     asset 
Investment                  GBP000's        value                            Activity 
-----------------------  --------------  -----------  ------------------------------------------------------- 
Shinfield Lodge Care                                  Owner and operator of a 66 bed care home in Shinfield, 
Limited                      11,489      17.4    %                           Berkshire. 
-----------------------  --------------  ----  -----  ------------------------------------------------------- 
Active Lives Care                                       Owner and operator of a 75 bed care home in Cumnor 
Limited                      7,630       11.5    %                       Hill, Oxfordshire. 
-----------------------  --------------  ----  -----  ------------------------------------------------------- 
Ryefield Court Care                                   Owner and operator of a 60 bed care home in Hillingdon, 
Limited                      6,443       9.7     %                           Middlesex. 
-----------------------  --------------  ----  -----  ------------------------------------------------------- 
Radnor House School 
(Holdings) Limited           4,792       7.2     %          Independent schools for children aged 5-18. 
-----------------------  --------------  ----  -----  ------------------------------------------------------- 
Chonais River Hydro                                     Owner and operator of a 2 MW hydro-power scheme in 
Limited                      4,390       6.6     %                    the Scottish Highlands. 
-----------------------  --------------  ----  -----  ------------------------------------------------------- 
Kew Green VCT                                           Operator of a Holiday Inn Express hotel at Stansted 
(Stansted) Limited           2,320       3.5     %                            Airport. 
-----------------------  --------------  ----  -----  ------------------------------------------------------- 
The Stanwell Hotel 
Limited                      1,865       2.8     %       Boutique hotel located near Heathrow Terminal 5. 
-----------------------  --------------  ----  -----  ------------------------------------------------------- 
Gharagain River Hydro                                   Owner and operator of a 1 MW hydroelectricity plant 
Limited                      1,791       2.7     %                      in Western Scotland. 
-----------------------  --------------  ----  -----  ------------------------------------------------------- 
                                                        Anaerobic digestion and composting plant located in 
Earnside Energy Limited      1,624       2.5     %                           Scotland. 
-----------------------  --------------  ----  -----  ------------------------------------------------------- 
 
 Bravo Inns II Limited            1,371   2.1%                           Owner and operator of freehold pubs. 
-----------------------  --------------  ----   ----  ------------------------------------------------------- 
 
 
   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. 
 
   Material events and transactions after the period end 
 
   Share issues 
 
   Under the terms of the dividend reinvestment scheme, the following new 
Ordinary shares of nominal value 1 penny each were allotted after 30 
June 2018: 
 
 
 
 
                                              Issue price per 
                 Number of     Nominal value  share (including   Net invested 
Date           shares issued      GBP'000     costs of issue)      GBP'000 
-------------  --------------  -------------  ----------------  -------------- 
31 July 2018          396,334              4             73.5p             291 
-------------  --------------  -------------  ----------------  -------------- 
 
 
   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 July 2018 and 13 August 2018. 
 
   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. 
 
   Richard Glover, Chairman 
 
   13 August 2018 
 
   For further information please contact: 
 
   Albion Capital Group LLP, Company Secretary - Tel: [phone] 
 
 
 
 
 
 

(END) Dow Jones Newswires

August 13, 2018 05:39 ET (09:39 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.