LEI Code 213800DK8H27QY3J5R45
Introduction
I present Kings Arms Yard VCT PLC’s (the “Company”) interim management statement for the period from
Impact of coronavirus (Covid-19) and Net asset value
Since the year ended
In light of this, the Company announces its unaudited net asset value (NAV) as at
After accounting for the dividend of
Fundraising and share issues
During the period from
Date | Number of shares issued | Issue price per share (including costs of issue) | Net proceeds £’000 |
42,437,803 | 22.4p to 22.7p | 9,388 |
Share buy-backs
Given the uncertainty on valuations caused by coronavirus (Covid-19) and its impact on financial markets in recent times, the Board agreed to suspend the Company’s buy back operation on
With this announcement of the NAV of the Company at
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
New investments | £000s | Activity |
308 | A software provider bringing real-time behavioural data analytics to the marine and transport insurance industries | |
154 | Challenger credit bureau helping lenders optimise and automate their affordability and risk assessments | |
Total new investments | 462 |
Top ten holdings as at
Portfolio company | Carrying value £000s | % of net asset value | Activity |
6,540 | 8.8 | Owner and operator of a 75 bed care home in Cumnor Hill, Oxfordshire | |
5,833 | 7.8 | Reformulation of paediatric medicines | |
4,545 | 6.1 | Encrypted email & file transfer service provider | |
4,473 | 6.0 | Owner and operator of a 60 bed care home in | |
3,331 | 4.5 | Owner and operator of a 2 MW hydro-power scheme in the | |
2,329 | 3.1 | Supplier of integrated antennas and RF solutions | |
The Street by | 1,876 | 2.5 | Owner and operator of photovoltaic systems on domestic properties in the |
1,816 | 2.4 | Network analytics platform to detect financial crime | |
1,554 | 2.1 | Generator of renewable energy from roof top solar installations | |
1,473 | 2.0 | Owner and operator of community scale wind energy projects on brownfield sites in the |
Board composition
Since the Company’s year end, the Board has been engaged in discussions with regards to succession planning and an announcement will be made later on this year.
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 www.albion.capital/funds/KAY.
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 under www.albion.capital/funds/KAY.
For further information please contact:
KAYchair@albion.capital
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