Draper Esprit PLC THE SALE OF CLAVIS INSIGHTS TO ASCENTIAL PLC (2825A)
December 27 2017 - 2:00AM
UK Regulatory
TIDMGROW
RNS Number : 2825A
Draper Esprit PLC
27 December 2017
Strictly embargoed until: 07.00 on 27(th) December 2017
Draper Esprit plc
("Draper Esprit" or the "Company")
DRAPER ESPRIT ANNOUNCES THE SALE OF PORTFOLIO COMPANY CLAVIS
INSIGHTS
TO ASCENTIAL PLC
Draper Esprit (AIM: GROW, ESM: GRW), a leading venture capital
firm investing in high-growth digital technology businesses across
Europe, announces the sale of portfolio company Clavis Insights
("Clavis") the leading eCommerce insights company to Ascential plc
(LSE: ASCL.L) ("Ascential"), the global business-to-business
information company for an initial cash consideration of $119
million paid in December 2017. Draper Esprit originally invested
GBP8.1 million in Clavis in December 2016 and will receive total
proceeds of GBP15.3 million.
The sale is estimated to increase the Company's total Net Asset
Value by approximately 3p, when compared to the NAV reported at the
time of the Company's Interim Results.
Clavis is a market leader in eCommerce analytics, with
proprietary technology enabling consumer product companies to track
and optimise the performance of their products across hundreds of
retailer websites and mobile commerce sites globally. Clavis
customers include some of the world's largest consumer product
companies, such as P&G, Nestle, Unilever and L'Oreal.
This sale adds to the exits of Aveillant to Thales Group and
Moviepilot to Webedia in recent months. Of the original 24
companies in the portfolio at IPO in June 2016, Draper Esprit has
now exited 9 companies, generating a return of --200% on invested
capital and GBP57 million cash. The Company has also invested in a
further 16 companies, including Graphcore, Pushdoctor, Perkbox and
Transferwise. Overall, Draper Esprit now has 31 portfolio
companies, excluding the acquisition of Seedcamp Funds I and
II.
Draper Esprit intends to invest the proceeds of the transaction,
which add to current cash balances of GBP73 million, into new and
existing portfolio companies.
Commenting on the sale, Simon Cook, CEO of Draper Esprit
said:
"We continue to prove that investing in high growth European
technology companies can be lucrative and cash generative. Clavis
demonstrates the flexibility provided by our permanent capital
model whereby positive returns can be made by investing in and
supporting companies in the later stages of their lifecycle. More
importantly, the model enables us to recycle our exits to invest
further in both new and existing companies and over the long term
build global technology leaders in Europe. We look forward to 2018
with continued confidence that the listed venture capital model is
working."
Ends
For further information, please contact:
Draper Esprit plc
Simon Cook (Chief Executive Officer)
Ben Wilkinson (Chief Financial Officer) +44 (0)20 7931 8800
Numis Securities
Nominated Adviser & Joint Broker
Alex Ham
Richard Thomas
Jamie Loughborough
Harry Trueman +44 (0)20 7260 1000
Goodbody Stockbrokers
ESM Adviser & Joint Broker
Don Harrington
Linda Hickey
Charlotte Craigie
Richard Tunney +353 1 667 0420
Belvedere Communications (PR)
John West
Kim van Beeck +44 (0)20 3567 0510
About Draper Esprit
Draper Esprit is one of the most active venture capital firms in
Europe, developing and investing in disruptive, high growth
technology companies. We believe the best entrepreneurs in Europe
are capable of building the global businesses of the future. We
fuel their growth with long- term capital, access to international
networks and decades of experience building businesses. Currently
Draper Esprit is a shareholder in a diverse portfolio of companies
including Trustpilot, Graze, Perkbox, PushDoctor and Graphcore.
Visit www.draperesprit.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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