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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Crown Place Vct Plc | LSE:CRWN | London | Ordinary Share | GB0002577434 | 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% | 28.90 | 28.40 | 29.40 | 28.90 | 28.90 | 28.90 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 4.78M | 2.82M | 0.0100 | 28.90 | 81.13M |
TIDMCRWN Crown Place VCT PLC Interim Management Statement LEI Code: 213800SYIQPA3L3T1Q68 Introduction I am pleased to present Crown Place VCT PLC's (the "Company") 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 GBP70.96 million or 31.59 pence per share (excluding treasury shares). After accounting for a dividend of 0.78 pence per share which was paid on 31 March 2021 to shareholders on the register on 5 March 2021 the NAV has increased by 1.24 pence per share (4.09%) since 31 December 2020. Fundraising and share issues 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 26,967,479 31.7p to 32.0p 8,414 ----------------- ---------------------- --------------------- ------------ The Company also issued the following shares under the dividend reinvestment scheme which are included in the net asset value figures for 31 March 2021 above: Number of shares Issue price per Date issued share Net invested GBP'000 -------------- ------------------- ------------------- -------------------- 31 March 2021 976,922 30.35 pence 295 -------------- ------------------- ------------------- -------------------- The Company continues to offer a Dividend Reinvestment Scheme to existing shareholders. Details of this Scheme can be found at www.albion.capital/funds/CRWN. Share buy-backs During the period from 1 January 2021 to 31 March 2021, the Company purchased 1,304,353 shares for GBP388,000 including stamp duty, at an average price of 29.57 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 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) 1,239 data flows through their systems ---------------- ------- --------------------------------------------------------- Total new investments 1,239 ---------------- ------- --------------------------------------------------------- Further investments GBP'000 Activity --------------- ------- --------------------------------------------------------- Provider of an online platform delivering family centric Healios Limited 486 psychological care primarily to children and adolescents --------------- ------- --------------------------------------------------------- Black Swan Data Limited 262 Predictive analytics for consumer brands --------------- ------- --------------------------------------------------------- ePatient Limited (T/A Online community connecting people affected by rare Raremark) 46 diseases --------------- ------- --------------------------------------------------------- Total further investments 794 --------------- ------- --------------------------------------------------------- The following disposals were made during the period from 1 January 2021 to 31 March 2021: Cost Proceeds Portfolio Company GBP'000 GBP'000 ----------------------------- -------- -------- Shinfield Lodge Care Limited 2,140 4,580 ----------------------------- -------- -------- Active Lives Care Limited 1,620 2,874 ----------------------------- -------- -------- Ryefield Court Care Limited 1,275 2,374 ----------------------------- -------- -------- SBD Automotive Limited 220 379 ----------------------------- -------- -------- OmPrompt Holdings Limited 153 350 ----------------------------- -------- -------- Total 5,408 10,557 ----------------------------- -------- -------- In March 2021, the Company completed the sale of its three care homes for the elderly; Active Lives Care Limited, Ryefield Court Care Limited, and Shinfield Lodge Care Limited. The purpose-built residential care homes situated across the South of England, offer luxury living with all-inclusive service and an excellent level of care. The homes were trading at mature occupancy levels. The first investments in the homes were made over 5 years ago and the sale generated a 2.5x return on cost (including interest received), an excellent result for the Company. Top ten holdings as at 31 March 2021: Investment Carrying value % of Activity GBP'000 net asset value --------------- -------------- ----- --------------------------------------------------------- Quantexa 4,768 6.7 Network analytics platform to detect financial crime Limited --------------- -------------- ----- --------------------------------------------------------- Proveca Limited 3,596 5.1 UK based pharma company specialising in medicines for children --------------- -------------- ----- --------------------------------------------------------- Chonais River 3,114 4.4 Owner and operator of a 2 MW hydro-power scheme in Hydro Limited the Scottish Highlands --------------- -------------- ----- --------------------------------------------------------- Radnor House 2,743 3.9 Independent school for children aged 2-18 School (TopCo) Limited --------------- -------------- ----- --------------------------------------------------------- The Evewell 1,728 2.4 Operator of a women's health centre focusing on fertility (Harley Street) Limited --------------- -------------- ----- --------------------------------------------------------- Gharagain River 1,676 2.4 Owner and operator of a 1 MW hydro-power scheme in Hydro Limited the Scottish Highlands --------------- -------------- ----- --------------------------------------------------------- Phrasee Limited 1,606 2.3 AI platform that generates optimised marketing campaigns --------------- -------------- ----- --------------------------------------------------------- Threadneedle 1,239 1.7 Provider of data lineage software to enterprise customers Software in regulated sector Holding Limited (T/A Solidatus) --------------- -------------- ----- --------------------------------------------------------- Healios Limited 1,081 1.5 Provider of an online platform delivering family centric psychological care primarily to children and adolescents --------------- -------------- ----- --------------------------------------------------------- Egress Software 996 1.4 Encrypted email and file transfer service provider Technologies Limited --------------- -------------- ----- --------------------------------------------------------- Material events and transactions after the period end After the period end, the Company had the following material investment transactions: -- Investment of GBP608,000 in a new portfolio company, an open sources API management platform that enables enterprises to manage their APIs through their lifecycle (from design to publishing to controlling access and security); and -- Investment of GBP168,000 in an existing portfolio company, Panaseer Limited, a provider of cyber security services. 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/CRWN. Penny Freer, Chairman crownchair@albion.capital 17 May 2021 For further information please contact: Vikash Hansrani Operations Partner Albion Capital Group LLP Telephone: 020 7601 1850
(END) Dow Jones Newswires
May 17, 2021 09:28 ET (13:28 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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