Merian Chrysalis Investment Co. Ltd Net Asset Value(s) (0203G)

TIDMMERI

RNS Number : 0203G

Merian Chrysalis Investment Co. Ltd

13 March 2020

The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area (other than the United Kingdom and the Republic of Ireland), Canada, Australia, Japan or the Republic of South Africa.

Merian Chrysalis Investment Company Limited

13 March 2020

Merian Chrysalis Investment Company Limited (the "Company")

NAV Announcement

Net Asset Value

The Company announces that as at 31 December 2019 the unaudited net asset value ("NAV") per ordinary share was 113.45 pence.

The above NAV calculation is based on the Company's issued share capital as at 31 December 2019 of 336,742,424 ordinary shares of no par value.

During the three month period ending 31 December 2019 the Company increased its shareholding in each of TransferWise Limited, The Hut Group Limited, Graphcore Limited, Embark Group Limited and Starling Bank Limited. The Company also made a new investment in FinanceApp AG (wefox Group).

The Hut Group Limited and Graphcore Limited recently completed funding rounds and the resultant increase in valuation for each company has been reflected in the Company's NAV, but these were partially offset by currency headwinds during the calculation period.

The 31 December 2019 NAV stated above is the Company's ordinary course net asset value as at that date. The Company notes the current market conditions and will announce any subsequent valuation changes should it become necessary to do so.

Portfolio composition

Following a number of recent transactions, the Company is now approximately 83% per cent fully invested.

As at 9 March 2020, the portfolio composition is as follows:

 
 Portfolio Company             % of investment portfolio 
 TransferWise Limited                              17.1% 
                               ------------------------- 
 Starling Bank Limited                             15.1% 
                               ------------------------- 
 Klarna Holding AB                                 10.2% 
                               ------------------------- 
 The Hut Group Limited                              9.0% 
                               ------------------------- 
 Embark Group Limited                               7.1% 
                               ------------------------- 
 Graphcore Limited                                 13.3% 
                               ------------------------- 
 Secret Escapes Limited                             3.5% 
                               ------------------------- 
 FinanceApp AG (wefox Group)                        3.3% 
                               ------------------------- 
 Sorted Holdings Limited                            2.6% 
                               ------------------------- 
 Growth Street Holdings 
  Limited                                           1.7% 
                               ------------------------- 
 Cash or cash equivalents                          17.2% 
                               -------------------------

Source: Merian Global Investors, as at 9/03/2020 based on current valuations and subject to completion of the follow-on investment in Embark Group Limited announced on 28/11/2019. Due to rounding the figures may not add up to 100%.

The investment advisory team continues to pursue a pipeline of compelling investment opportunities.

Factsheet

An updated Company factsheet will be available on the Company's website in due course: https://www.merian.com/chrysalis/

-ENDS-

 
 For further information, please 
  contact: 
 
  Merian Global Investors: 
  Amelie Shepherd                        +44 (0) 20 7332 7500 
 Liberum: 
  Gillian Martin / Owen Matthews       +44 (0) 20 3100 2000 
 Maitland Administration (Guernsey) 
  Limited: 
  Elaine Smeja                         +44 (0) 1481 749364

LEI: 213800F9SQ753JQHSW24

A copy of this announcement will be available on the Company's website at https://www.merian.com/chrysalis/.

This announcement is for information purposes only and is not an offer to invest. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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March 13, 2020 03:00 ET (07:00 GMT)

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