Interim Management Statement
LEI code: 213800TKJUY376H3KN16
Introduction
I am pleased to present Albion Technology & General VCT PLC’s (the “Company”) interim management statement for the period from
Performance and dividends
The Company’s unaudited net asset value (NAV) as at
After accounting for the special dividend of
A second interim dividend for the year ending
Share buy-backs
There were no share buy-backs during the period from
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 the most recently announced net asset value, so far as market conditions and liquidity permit.
Portfolio
The following investments have been made during the period from
New investment | £’000 | Activity |
1,020 | A cloud platform that enables corporates to purchase digital gift cards and to distribute them to employees and customers | |
Total new investments | 1,020 |
Further investments | £’000 | Activity |
1,967 | Network analytics platform to detect financial crime | |
1,082 | A developer and producer of industrial sensors for use in ultra-high temperature environments | |
uMotif Limited | 426 | A patient engagement and data capture platform for use in real world and observational research |
288 | AI platform that generates optimised marketing campaigns | |
The Evewell ( | 52 | Operator of a women’s health centre focusing on fertility |
ePatient Network Limited (T/A Raremark) | 46 | Online community connecting people affected by rare diseases |
Total further investments | 3,861 |
Top ten holdings as at
Investment | Carrying value £’000 | % of net asset value | Activity |
7,978 | 9.2 | Network analytics platform to detect financial crime | |
4,611 | 5.3 | Independent school for children aged 2.5-18 | |
3,915 | 4.5 | Owner and operator of a 2 MW hydro-power scheme in the | |
3,697 | 4.3 | A developer and producer of industrial sensors for use in ultra-high temperature environments | |
3,621 | 4.2 | Reformulation of paediatric medicines | |
2,172 | 2.5 | Owner and operator of a 1 MW hydro-power scheme in the | |
2,114 | 2.4 | Encrypted email & file transfer service provider | |
G. | 1,828 | 2.1 | Ultra-fast fibre optic broadband provider in central |
1,740 | 2.0 | Predictive analytics for consumer brands | |
1,632 | 1.9 | A software provider bringing real-time behavioural data analytics to the marine and transport insurance industries |
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/AATG, 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 undertook the following material investment transactions:
- Our holding in
SVS Albion OLIM UK Equity Income Fund was exited with total proceeds (including dividends) of £1.85 million on cost of £2.26 million;
Proceeds of £757,000 received from the sale ofClear Review Limited on cost of £367,000;
Investment of £283,000 in a new portfolio company,Seldon Technologies Limited , a software company that enables enterprises to deploy Machine Learning models in production;
Investment of £180,000 in an existing portfolio company,Limitless Technology Limited , a provider of a customer service platform powered by the crowd and machine learning technology; - Investment of £100,000 in a new portfolio company, uMedeor Limited (T/A uMed), a middleware technology platform that enables life science organisations to conduct medical research programmes; and
- Investment of £84,000 in an existing portfolio company,
Arecor Limited , which develops biopharmaceuticals through the application of a formulation technology platform.
There have been no further significant events or transactions between
Further information
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 www.albion.capital/funds/AATG.
Dr.
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