Albion Dev VCT Albion Development Vct Plc - Ordinary Shares : Interim Management Statement
November 06 2017 - 11:50AM
UK Regulatory
TIDMAADV
Albion Development VCT PLC Interim Management Statement
LEI Code 213800FDDMBD9QLHLB38
Introduction
I am pleased to present Albion Development VCT PLC (the "Company")'s
interim management statement for the period from 1 July 2017 to 30
September 2017.
Performance and dividends
The Company's unaudited net asset value (NAV) as at 30 September 2017
was GBP48.7 million or 72.1 pence per share (excluding treasury shares),
after accounting for the dividend of 2.0 pence per share paid on 29
September 2017 to shareholders on the register on 8 September 2017.
Share issues
During the period from 1 July 2017 to 30 September 2017, the Company
issued the following shares under the dividend reinvestment scheme (and
are included in the net asset value figures for 30 September 2017
above):
Number of shares Issue price per Net invested
Date issued share GBP'000
29 September 2017 311,615 69.3 pence 214
Share buybacks
During the period from 1 July 2017 to 30 September 2017, the Company
purchased 445,000 Ordinary shares for GBP301,000 at an average price of
67.67p pence per Ordinary share. All of the shares are to be held in
treasury.
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
2017 to 30 September 2017:
Further
investments GBP000s Activity
Egress Software
Technologies
Limited 812 Encrypted email & file transfer service provider
A technology enabled service business in medical nutritional
Oviva AG 483 therapy (MNT)
G.Network
Communications
Limited 273 Fibre optic broadband provider in central London
Black Swan Data
Limited 239 Data analysis that supports corporate decision making
Convertr Media
Limited 117 Digital lead generation software
Abcodia Limited 45 Validation and discovery of serum biomarkers
Aridhia
Informatics
Limited 14 Healthcare informatics and analysis provider
Beddlestead Developer and operator of a dedicated wedding venue
Limited 10 in the UK
Total further
investments 1,993
Disposals
The following material disposals and loan stock repayments were made
during the period from 1 July 2017 to 30 September 2017:
Portfolio
company GBP000s
Hilson Moran
Holdings Disposal of investment on a cost of GBP231k, realising
Limited 1,691 a gain of GBP1.46 million
Total
proceeds 1,691
Furthermore, Relayware Limited merged with Zift Solutions Inc. to form
Zift Channel Solutions Inc..
Top ten holdings as at 30 September 2017:
% of
net
Value asset
Investment GBP000s value Activity
Radnor House
School
(Holdings)
Limited 5,950 12.2% Independent schools for children aged 5-18
Egress
Software
Technologies
Limited 3,216 6.6% Encrypted email & file transfer service provider
Grapeshot
Limited 2,451 5.0% Provider of digital marketing software
Proveca
Limited 2,351 4.8% Reformulation of paediatric medicines
Chonais River
Hydro Owner and operator of a 2 MW hydro-power scheme in
Limited 2,098 4.3% the Scottish Highlands
The Street by
Street Solar
Programme Owns and operates photovoltaic systems on domestic
Limited 2,053 4.2% properties in the UK
Regenerco
Renewable
Energy Generator of renewable energy from roof top solar
Limited 1,789 3.7% installations
Earnside
Energy Anaerobic digestion and composting plant located in
Limited 1,380 2.8% Scotland
Mirada
Medical
Limited 1,315 2.7% Developer of medical imaging software
Alto Prodotto 1,289 2.6% Owns and operates community scale wind energy projects
Wind on brownfield sites in the UK
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/AADV, by following the 'Portfolio of
Investments' link under the 'Fund reports' section.
Material events and transactions after the period end
Portfolio
After the period end, the Company had made the following material
investment transactions:
-- Investment of GBP933k in a new portfolio company, Women's Health (London
West One) Limited, to develop a women's health centre of excellence
focussing on fertility;
-- Investment of GBP830k in an existing portfolio company, Beddlestead
Limited, which develops and operates a dedicated wedding venue in the UK;
and
-- Investment of GBP305k in an existing portfolio company, G.Network
Communications Limited, which is a fibre optic broadband provider in
Central London.
Further information
The Company continues to offer a Dividend Reinvestment Scheme to
existing shareholders. Details of this Scheme can be found on the
Company's webpage on the Manager's website at
www.albion.capital/funds/AADV.
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 under www.albion.capital/funds/AADV.
Geoffrey Vero, Chairman
6 November 2017
For further information please contact:
Patrick Reeve, Albion Capital Group LLP - Tel: 020 7601 1850
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 Development VCT PLC - Ordinary Shares via Globenewswire
http://www.closeventures.co.uk
(END) Dow Jones Newswires
November 06, 2017 11:50 ET (16:50 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Albion Development Vct (LSE:AADV)
Historical Stock Chart
From Apr 2024 to May 2024
Albion Development Vct (LSE:AADV)
Historical Stock Chart
From May 2023 to May 2024