Albion Dev VCT Albion Development Vct Plc - D Shares : Interim Management Statement
2014年11月12日 - 1:48AM
ＲＮＳを含む英国規制内ニュース （英語）
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Albion Development VCT PLC Interim Management Statement
Introduction
I am pleased to present Albion Development VCT PLC (the "Company")'s
interim management statement for the period from 1 July 2014 to 11
November 2014 as required by the UK Listing Authority's Disclosure and
Transparency Rule 4.3.
Performance and dividends
The Company's Ordinary shares' unaudited net asset value, based on
management accounts, as at 30 September 2014 was GBP26.9 million (30
June 2014: GBP25.6 million) or 71.36 pence per share (excluding treasury
shares) (30 June 2014: 70.80 pence per share) after accounting for the
dividend of 2.50 pence per share paid on 30 September 2014 to
shareholders on the register as at 5 September 2014.
The Company's D shares' unaudited net asset value, based on management
accounts, as at 30 September 2014 was GBP6.9 million (30 June 2014:
GBP6.7 million) or 107.45 pence per share (excluding treasury shares)
(30 June 2014: 105.04 pence per share) after accounting for the dividend
of 2.50 pence per share paid on 30 September 2014 to shareholders on the
register as at 5 September 2014.
Adjusting for the payment of the dividend, the Company's Ordinary
shares' net asset value has risen by 0.56 pence per share or 0.8 per
cent. since 30 June 2014, and the D shares' net asset value has risen by
2.41 pence per share or 2.3 per cent., both as a result of an increase
in investment valuations.
Share issues and buybacks
During the period from 1 July 2014 to 30 September 2014, the Company
issued the following Ordinary shares under the Albion VCTs Top Up Offers
2013/2014 and the Albion VCTs Prospectus Top Up Offers 2013/2014.
Issue price per
Number of shares share (including Net proceeds
Date issued costs of issue)* GBP'000
4 July 2014 10,062 73.70 pence 7
4 July 2014 5,398 74.10 pence 4
4 July 2014 30,139 74.50 pence 22
4 July 2014
(Prospectus) 367,381 74.50 pence 266
30 September 2014
(Prospectus) 960,844 73.00 pence 680
Total 1,373,824 979
* The difference in the issue price per share reflects the "early bird"
incentives as explained in the Albion VCT Top Up Offers 2013/2014
investor guide.
The Albion VCT Prospectus Top Up Offers 2013/2014 closed on 30 September
2014.
A total of 4,157,248 shares were issued under the Albion VCTs Top Up
Offers 2013/2014 and the Albion VCTs Prospectus Top Up Offers 2013/2014
raising net proceeds of GBP3.03 million.
Total shares issued under the Albion VCTs Top Up Offers Number of Net
2013/2014 and the Albion VCTs Prospectus Top Up Offers shares proceeds
2013/2014 issued GBP'000
31 January 2014 1,113,029 812
5 April 2014 1,670,395 1,238
4 July 2014 412,980 299
30 September 2014 960,844 680
Total 4,157,248 3,029
The proceeds of the Offers are being used to provide further resources
to the Company at a time when a number of attractive new investment
opportunities are being seen.
In addition, the following shares were issued under the dividend
reinvestment scheme (and are included in the net asset value figures for
30 September 2014 above):
Ordinary shares
Number of shares Issue price per Net proceeds
Date issued share GBP'000
30 September 2014 149,111 70.80 pence 103
D shares
Number of shares Issue price per Net proceeds
Date issued share GBP'000
30 September 2014 16,291 105.04 pence 16
During the period from 1 July to 11 November 2014, the Company purchased
122,000 Ordinary shares for GBP85,000 at an average price of 69.70 pence
per Ordinary share. All of the shares are to be held in treasury.
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 net asset value,
so far as market conditions and liquidity permit.
Portfolio
The following investments have been made by the Company during the
period from 1 July 2014 to 11 November 2014:
New
investments GBP000's Activity
Omprompt
Limited 650 Business to business integration software
Infinite
Ventures
(Goathill)
Limited 32 Wind turbine project in Scotland
Total new
investments 682
Further
investments
Chonais
Holdings
Limited 788 Hydropower project in Scotland
Relayware Provider of business collaboration and communication
Limited 255 solutions
MyMeds&Me
Limited 141 Software for managing pharmaceutical adverse events
Taunton
Hospital
Limited 128 Owner and operator of a psychiatric hospital
Proveca
Limited 119 Repositioning of pediatric medicines
Cisiv Software and services for non-interventional clinical
Limited 96 trials
Rostima
Holdings Provider of labour management software for the marine
Limited 86 and aviation industries
Mirada
Medical
Limited 77 Developer of medical imaging software
Abcodia
Limited 38 Validation and discovery of serum biomarkers
Blackbay
Limited 17 Provider of mobile data solutions
AMS Sciences Provider of metabolism data in clinical and pre-clinical
Limited 6 development
DySIS
Medical Development, manufacture and sale of medical devices
Limited 5 for detection of cervical cancer
Total
further
investments 1,756
Disposals and loan stock repayments
The following disposals and loan stock repayments were made during the
period from 1 July 2014 to 11 November 2014:
Name GBP000's
Peakdale Molecular Limited 1,363 Disposal of investment
Tower Bridge Health Club Limited 776 Disposal of investment
Consolidated PR Limited 188 Disposal of investment
Chichester Holdings Limited 136 Loan stock repayment
Radnor House School (Holdings) Loan stock and capitalised
Limited 102 interest repayment
Dexela Limited 68 Payment of year 3 earn out
Loan stock and redemption
Hilson Moran Holdings Limited 61 premium repayment
The Dunedin Pub Company VCT
Limited 55 Final proceeds on disposal
The Charnwood Pub Company VCT
Limited 19 Loan stock repayment
Total proceeds 2,768
Helveta Limited went into administration on 18 September 2014. The
assets of Helveta Limited were purchased by Elements Software Limited,
and the Company received 0.55 per cent. of the ordinary share capital in
the new entity.
Top ten holdings as at 30 September 2014 (Ordinary and D shares in
aggregate):
Carrying value % of net asset value
Investment GBP000's GBP000's
Radnor House School (Holdings) Limited 2,852 8.5
The Street by Street Solar Programme
Limited 1,705 5.1
Blackbay Limited 1,657 4.9
Regenerco Renewable Energy Limited 1,282 3.8
Taunton Hospital Limited 1,160 3.4
Chonais Holdings Limited 1,137 3.4
Alto Prodotto Wind Limited 1,129 3.3
Bravo Inns II Limited 1,113 3.3
Lowcosttravelgroup Limited 1,090 3.2
Mirada Medical Limited 976 2.9
A full breakdown of the Company's portfolio can be found on the funds
website under 'Portfolio of Investments' at
www.albion-ventures.co.uk/ourfunds/AADV.htm
Material events and transactions
There have been no further significant events or transactions that the
Board is aware of which would have a material impact on the financial
position of the Company between 1 July 2014 to 11 November 2014.
Further information
The Company continues to offer a Dividend Reinvestment Scheme to
existing shareholders. Details of this Scheme can be found at
www.albion-ventures.co.uk/ourfunds/AADV.htm.
Further information regarding historic and current financial performance
and other useful shareholder information can be found on the Fund's
website under www.albion-ventures.co.uk/ourfunds/AADV.htm.
Geoffrey Vero, Chairman
11 November 2014
For further information please contact:
Patrick Reeve, Albion Ventures LLP - tel: 020 7601 1850
D share investment portfolio by sector as at 30 September 2014:
http://hugin.info/142961/R/1870563/657855.pdf
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Albion Development VCT PLC - D Shares via Globenewswire
HUG#1870563
http://www.closeventures.co.uk
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