TIDMOCI
RNS Number : 4504X
Oakley Capital Investments Limited
26 April 2023
26 April 2023
Oakley Capital Investments Limited
Trading update for the Three Months ended 31 March 2023
Oakley Capital Investments Limited(1) ("OCI" or the "Company")
today announces its quarterly trading update for the three months
ended 31 March 2023. OCI is a listed investment company providing
consistent, long-term returns in excess of the FTSE All-Share Index
by investing in the Funds managed by Oakley Capital(2) ("Oakley"),
thereby capturing the outperformance of a leading private equity
manager.
The Oakley Funds(3) invest primarily in unquoted, profitable,
pan-European businesses with recurring revenues, and across three
sectors: Technology, Consumer and Education. Oakley's origination
capabilities combined with proven value creation drivers help
management teams accelerate growth and produce consistently
superior returns for investors.
NAV resilient in challenging macro and markets environment
Highlights for the period
-- Net Asset Value ("NAV") per share of 668 pence and NAV of GBP1,178 million
-- Total NAV return per share including dividends of +1.25% since 31 December 2022 (+8 pence)
-- Total shareholder return of 9%
-- GBP27 million in new investments in the period
-- Cash and available debt of GBP169 million as at 31 March 2023
NAV growth
The Company's unaudited NAV, based on a revaluation of all
portfolio companies as at 31 March 2023, was GBP1,178 million,
which represents a NAV per share of 668 pence. The total NAV per
share return, including dividends, was 1.25% (+8 pence) since 31
December 2022. The 8 pence total return includes 15 pence of
valuation gains in the underlying portfolio companies and 5 pence
of foreign exchange losses. The increase in the portfolio reflects
a cautious approach to both trading outlook and valuation
multiples, which contributed in equal measure to the uplift.
Portfolio company outlook
OCI's underlying portfolio of tech-enabled businesses are
expected to continue to deliver robust trading performances in the
challenging macroeconomic environment as customers continue to
shift spending online, switch to SaaS solutions and invest in
education, thereby underpinning NAV and demonstrating the enduring
power of the long-term megatrends that Oakley invests behind.
Transactions
During the period, OCI made new investments of GBP27 million
which were attributable to look-through fund investments in
technology and education businesses. They include an investment in
premium schools group Thomas's London Day Schools, and the
acquisition of legal intelligence business Fastcase which will be
combined with Oakley portfolio company vLex.
Cash & commitments
OCI had cash on the balance sheet and available debt of GBP169
million as at 31 March 2023, comprising 14% of NAV. Total
outstanding Oakley Fund commitments as at 31 March 2023 were GBP886
million. In excess of GBP200 million of this is forecast not to be
drawn, and the remainder is expected to be deployed into new
investments over the next five years.
Post-balance sheet events
Final 2022 dividends of 2.25 pence were paid on 21 April 2023 to
shareholders on the register on or before 17 March 2023.
OCI's latest quarterly factsheet can be accessed here .
OCI will hold its Capital Markets Day on Wednesday 10 May
between 14:00 and 16:30 BST. Should you wish to attend virtually,
please contact oci-investorrelations@oakleycapital.com .
- ends -
For further information please contact:
Oakley Capital Limited
+44 20 7766 6900
Steven Tredget
Greenbrook Communications Limited
+44 20 7952 2000
Rob White / Michael Russell
Liberum Capital Limited (Financial Adviser & Broker)
+44 20 3100 2000
Chris Clarke / Darren Vickers / Owen Matthews
Notes:
LEI Number: 213800KW6MZUK12CQ815
(1) About Oakley Capital Investments Limited ("OCI")
OCI is a Specialist Fund Segment ("SFS") traded investment
vehicle that aims to provide shareholders with consistent long-term
capital growth in excess of the FTSE All-Share Index by providing
liquid access to private equity returns through investment in the
Oakley Funds.
A video introduction to OCI is available at
https://oakleycapitalinvestments.com/videos/
The contents of the OCI website are not incorporated into, and
do not form part of, this announcement.
(2) Oakley Capital, the Investment Adviser
Founded in 2002, Oakley Capital Limited has demonstrated the
repeated ability to source attractive growth assets at attractive
prices. To do this it relies on its sector and regional expertise,
its ability to tackle transaction complexity and its deal
generating entrepreneur network.
(3) The Oakley Funds
Oakley Capital Private Equity L.P. and its successor funds,
Oakley Capital Private Equity II, Oakley Capital Private Equity
III, Oakley Capital IV, Oakley Capital V and Oakley Capital Origin
Fund and are unlisted lower-mid to mid-market private equity funds
that aim to provide investors with significant long-term capital
appreciation. The investment strategy of the Funds is to focus on
buy-out opportunities in industries with the potential for growth,
consolidation and performance improvement. The Oakley family of
funds also includes PROfounders funds, which are venture capital
funds focused on investments in entrepreneur-led, private
businesses across Europe.
Important information
Specialist Fund Segment securities are not admitted to the
Official List of the Financial Conduct Authority. Therefore, the
Company has not been required to satisfy the eligibility criteria
for admission to listing on the Official List and is not required
to comply with the Financial Conduct Authority's Listing Rules.
The Specialist Fund Segment is intended for institutional,
professional, professionally advised and knowledgeable investors
who understand, or who have been advised of, the potential risk
from investing in companies admitted to the Specialist Fund
Segment.
This announcement may include "forward-looking statements".
These forward-looking statements are statements regarding the
Company's objectives, intentions, beliefs or current expectations
with respect to, amongst other things, the Company's financial
position, business strategy, results of operations, liquidity,
prospects and growth. Forward-looking statements are subject to
risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Accordingly
the Company's actual future financial results, operational
performance and achievements may differ materially from those
expressed in, or implied by, the statements. Given these
uncertainties, prospective investors are cautioned not to place any
undue reliance on such forward-looking statements, which speak only
as at the date of this announcement. The Company expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect actual
results or any change in the Company's expectations with regard to
them or any change in events, conditions or circumstances on which
any such statements are based unless required to do so by the
Financial Services and Markets Act 2000, the Listing Rules or
Prospectus Regulation Rules of the Financial Conduct Authority or
other applicable laws, regulations or rules.
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END
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April 26, 2023 02:00 ET (06:00 GMT)
Oakley Capital Investments (AQSE:OCI.GB)
過去 株価チャート
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Oakley Capital Investments (AQSE:OCI.GB)
過去 株価チャート
から 12 2023 まで 12 2024
