Schroder UK Public Private Tst plc Valuation adjustment following fundraising by ONT (6577X)
May 05 2021 - 7:57AM
UK Regulatory
TIDMSUPP
RNS Number : 6577X
Schroder UK Public Private Tst plc
05 May 2021
Schroder UK Public Private Trust plc
("SUPP" or the "Company")
Valuation adjustment following fundraising by ONT
The Company notes the announcement by Oxford Nanopore
Technologies Ltd ("ONT") that it has raised GBP195 million in new
capital including GBP125 million from new investors Temasek,
Wellington Management, M&G Investments and Nikon. In addition,
existing shareholders of ONT invested GBP70 million.
In the announcement of SUPP's unaudited NAV as at 31 December
2020 released on 7 April 2021, the Company stated that Link Fund
Solutions Limited ("Link"), the Company's AIFM, had made no
valuation adjustment for ONT and the valuation reflected in the NAV
as at 31 December 2020 was based on the last funding round, which
had not been adjusted for more than 12 months. Following the recent
funding round by ONT, the Company has been advised by Link that it
intends to revalue SUPP's holding in ONT to the price of this
latest funding round which is expected to lead to an uplift in NAV
of approximately GBP22m, representing an increase of 6.9% to the
NAV as at 31 December 2020. This will be reflected in the NAV as at
31 March 2021, which is expected to be announced in early June
2021.
Enquiries:
Schroder Investment Management Limited
Estelle Bibby (Press) 0207 658 3431
Gareth Faith (Company Secretary) 0207 658 5264
About Oxford Nanopore Technologies Ltd
Oxford Nanopore has developed a new generation of DNA
sequencers, which uniquely scale from small portable formats to
ultra-high throughput. They are unique in combining this
scalability with real-time data streaming and the ability to
sequence very long fragments of DNA/RNA, which provides very rich
biological data. The company has customers across the globe using
its technology for a range of scientific research including
pathogen analysis, cancer research, agriculture, human genetics and
environmental research.
On 30 March 2021, Oxford Nanopore notified shareholders that it
has started the process of preparing for a potential Initial Public
Offering ("IPO"). Whilst the timing of a potential IPO is dependent
on market conditions and other matters not fully within its
control, Oxford Nanopore currently expects the IPO to occur in the
second half of the year on the London Stock Exchange.
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