Crown Place VCT PLC Crown Place Vct Plc : Interim Management Statement

 
TIDMCRWN 
 
 
   Crown Place VCT PLC Interim Management Statement 
 
   LEI Code: 213800SYIQPA3L3T1Q68 
 
 
 
   Introduction 
 
   I am pleased to present Crown Place VCT PLC's interim management 
statement for the period from 1 July 2018 to 30 September 2018. 
 
   Performance and dividends 
 
   The Company's unaudited net asset value (NAV) as at 30 September 2018 
was GBP57.06 million or 34.56 pence per share (excluding treasury 
shares), an increase of 1.06 pence per share (3.2 per cent.) since 30 
June 2018. 
 
 
 
   After accounting for a dividend of 1 penny per share, to be paid on 30 
November 2018 to shareholders on the register on 2 November 2018, the 
NAV is 33.56 pence per share. 
 
   Albion VCTs Prospectus Top Up Offers 2018/19 
 
   The Company announced on 6 November 2018 that, subject to obtaining the 
requisite regulatory approval, it is the Company's intention to launch a 
prospectus top up offer to raise up to GBP6 million before issue costs, 
with a further over-allotment facility of GBP2 million, of new Ordinary 
shares for subscription in the 2018/19 and 2019/20 tax years. Full 
details of the offer will be contained in a prospectus that is expected 
to be published in January 2019. 
 
   Share buy-backs 
 
   During the period from 1 July 2018 to 30 September 2018, the Company 
purchased 312,000 shares for GBP92,000 including stamp duty, at a price 
of 29.29 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 net asset value, so far as market conditions and 
liquidity permit. 
 
 
 
   Portfolio 
 
   The following investments have been made during the period from 1 July 
2018 to 30 September 2018: 
 
 
 
 
 
 
New investments            GBP000s  Activity 
-------------------------  -------  ---------------------------------------- 
                                    AI platform that generates optimised 
Phrasee Limited              356     marketing campaigns 
-------------------------  -------  ---------------------------------------- 
                                    Development of biopharmaceuticals 
                                     through the application of a 
Arecor Limited               168     formulation technology platform 
-------------------------  -------  ---------------------------------------- 
                                    Secure mobile communication 
                                     and collaboration platform in 
Forward Clinical Limited     160     healthcare 
-------------------------  -------  ---------------------------------------- 
                                    Online community connecting 
                                     people affected by rare diseases 
                                     with up-to-date scientific information, 
                                     community insights and medical 
ePatient Network Limited     115     research 
-------------------------  -------  ---------------------------------------- 
Total new investments          799 
-------------------------  ------- 
 
 
 
 
 
 
Further investments         GBP000s  Activity 
--------------------------  -------  ---------------------------- 
                                     Technology solution for the 
                                      management of locum doctors 
Locum's Nest Limited          320     for the NHS 
--------------------------  -------  ---------------------------- 
                                     Network analytics platform 
Quantexa Limited              248     to detect financial crime 
--------------------------  -------  ---------------------------- 
Total further investments       568 
--------------------------  ------- 
 
 
 
 
   Top ten holdings as at 30 September 2018: 
 
 
 
 
 
 
                            Carrying  % of net 
                              value     asset 
Investment                   GBP000s    value                  Activity 
--------------------------  --------  --------  -------------------------------------- 
Radnor House School                                   Independent schools for children 
 (Holdings) Limited            6,766      11.9                               aged 5-18 
--------------------------  --------  --------  -------------------------------------- 
Shinfield Lodge Care                                    Owner and operator of a 66 bed 
 Limited                       4,062       7.1       care home in Shinfield, Berkshire 
--------------------------  --------  --------  -------------------------------------- 
ELE Advanced Technologies                        Manufacturer of precision engineering 
 Limited                       3,404       6.0                              components 
--------------------------  --------  --------  -------------------------------------- 
                                                          Owner and operator of a 2 MW 
Chonais River Hydro                                 hydro-power scheme in the Scottish 
 Limited                       3,298       5.8                               Highlands 
--------------------------  --------  --------  -------------------------------------- 
                                                        Owner and operator of a 75 bed 
Active Lives Care Limited      2,654       4.7   care home in Cumnor Hill, Oxfordshire 
--------------------------  --------  --------  -------------------------------------- 
Ryefield Court Care                                     Owner and operator of a 60 bed 
 Limited                       2,129       3.7      care home in Hillingdon, Middlesex 
--------------------------  --------  --------  -------------------------------------- 
                                                         Network analytics platform to 
Quantexa Limited               1,816       3.2                  detect financial crime 
--------------------------  --------  --------  -------------------------------------- 
                                                          Owner and operator of a 1 MW 
Gharagain River Hydro                                    hydroelectricity plant in the 
 Limited                       1,672       2.9                      Scottish Highlands 
--------------------------  --------  --------  -------------------------------------- 
                                                    Anaerobic digestion and composting 
Earnside Energy Limited        1,273       2.2               plant located in Scotland 
--------------------------  --------  --------  -------------------------------------- 
G. Network Communications                             Ultra-fast fibre optic broadband 
 Limited                       1,225       2.1              provider in central London 
--------------------------  --------  --------  -------------------------------------- 
 
 
 
 
   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=HbDBfA3k5qJkrxNaCjkVPtmrSZw39SZLdvISwJooOcxUegKWo7JRR7i0umRTIE97ZVdHukwZk3EvxBhMQrMIXMOSvfzvInkzcVj2xa-ddQ5zpMi-ueBPBqXn7o4aifjD 
www.albion.capital/funds/CRWN, by following the 'Portfolio of 
Investments' link under the 'Fund reports' section. 
 
 
 
   Material events and transactions after the period end 
 
   After the period end, the Company had no material transactions. 
 
 
 
   Further information 
 
   The Company continues to offer a Dividend Reinvestment Scheme to 
existing shareholders. Details of this Scheme can be found at 
https://www.globenewswire.com/Tracker?data=HbDBfA3k5qJkrxNaCjkVPtmrSZw39SZLdvISwJooOczwdtbBFom98NP7xrpKdyeLI50Pns0O0KpASmRVzNV5cSJkl-9cLOBVmNCVjCyoFT-lWszfumT2nVE2WtW6WwH6 
www.albion.capital/funds/CRWN. 
 
 
 
   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=HbDBfA3k5qJkrxNaCjkVPtmrSZw39SZLdvISwJooOczP3Uqy1uLcWyHOCZ_o_pzt9oriPSJVxd_tpho4QjNfsMvqHSLjXGY9i5iRSSWlk9LsgzDohNPeuI5j3ZDePtGx 
www.albion.capital/funds/CRWN. 
 
 
 
 
 
 
 
   Richard Huntingford, Chairman 
 
   [e-mail] 
 
 
 
   29 November 2018 
 
   For further information please contact: 
 
   Albion Capital Group LLP -- Tel: [phone] 
 
 
 
 

(END) Dow Jones Newswires

November 29, 2018 06:04 ET (11:04 GMT)

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