Crown Place VCT PLC Crown Place Vct Plc : Interim Management Statement
November 29 2018 - 6:04AM
UK Regulatory
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
crownchair@albion.capital
29 November 2018
For further information please contact:
Albion Capital Group LLP -- Tel: 020 7601 1850
(END) Dow Jones Newswires
November 29, 2018 06:04 ET (11:04 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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