Chrysalis VCT Plc Update On Portfolio Company

 
TIDMCYS 
 
   Chrysalis VCT plc 
 
   LEI: 2138009FVDWULSIOX404 
 
   13 May 2020 
 
   Update on portfolio company 
 
   The Company notes the comments made in an announcement today by Edge 
Performance VCT plc ("Edge") about one of its investments, Coolabi plc, 
in which Chrysalis VCT also has a holding. 
 
   Edge's announcement included the following: 
 
   "Coolabi has appointed an adviser to consider the strategic 
opportunities open to it, including an outright sale of the business. 
As a consequence, a number of expressions of interest in acquiring 
Coolabi have been received.  This process is ongoing but has been 
delayed by the COVID crisis. Coolabi has been doing well despite the 
crisis. Its target audience is at home so reading, watching and online 
consumption are all up and its nine months YTD trading results position 
it for a full year profit ahead of last year's." 
 
   At 31 October 2019, the investment in Coolabi represented approximately 
27% of Chrysalis VCT's net assets and comprises mainly of loan stock. 
 
   The Chrysalis VCT board and manager are monitoring developments with 
Coolabi and will update shareholders in due course when there are any 
significant developments or, in any event, in the Company's Half Yearly 
Report for the period ended 30 April 2020 which is expected to be 
published in early July. 
 
 
 
 

(END) Dow Jones Newswires

May 13, 2020 13:05 ET (17:05 GMT)

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