TIDMAATG 
 
   Albion Technology & General VCT PLC 
 
   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 1 July 2019 
to 30 September 2019. 
 
   Performance and dividends 
 
   The Company's unaudited net asset value (NAV) as at 30 September 2019 
was GBP95.2 million or 85.28 pence per share (excluding treasury shares), 
an increase of 0.13 pence per share or 0.2 per cent. since 30 June 2019. 
 
   A second dividend for the year ending 31 December 2019 of 2.0 pence per 
Ordinary share is to be paid on 31 December 2019 to shareholders on the 
register on 6 December 2019, resulting in total dividends of 4.0 pence 
per share for the year. 
 
   Share buy-backs 
 
   During the period from 1 July 2019 to 30 September 2019, the Company 
purchased 373,000 shares for GBP280,000 including stamp duty, at an 
average price of 74.63 pence per 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 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 1 July 
2019 to 30 September 2019: 
 
 
 
 
New investment  GBP000s  Activity 
--------------  -------  ----------------------------------------------------- 
Elliptic         1,402   Provider of Anti Money Laundering services to digital 
 Enterprises              asset institutions 
 Limited 
--------------  -------  ----------------------------------------------------- 
 
 
 
 
 
 
Further 
investments         GBP000s  Activity 
------------------  -------  ------------------------------------------------- 
Koru Kids Limited     141    Online marketplace connecting parents and nannies 
------------------  -------  ------------------------------------------------- 
The Evewell 
(Harley Street)              Developer and operator of a women's health centre 
Limited               42      of excellence focussing on fertility 
------------------  -------  ------------------------------------------------- 
Convertr Media 
Limited               26     Digital lead generation software 
------------------  -------  ------------------------------------------------- 
Total further 
 investments            209 
------------------  ------- 
 
   Disposals 
 
   The following material disposals and loan stock repayments were made 
during the period from 1 July 2019 to 30 September 2019: 
 
 
   -- As announced in the Half-yearly Financial Report, contracts were 
      exchanged for the sale of Process Systems Enterprise Limited. Proceeds of 
      GBP14.0 million have been received after the period end, generating a 10 
      times return on total funds invested; and 
 
   -- G. Network Communications Limited repaid its loan stock of GBP713,000. 
 
 
   Top ten holdings as at 30 September 2019: 
 
 
 
 
                               % of 
                                net 
               Carrying value  asset 
Investment         GBP'000     value                       Activity 
-------------  --------------  -----  --------------------------------------------------- 
Process 
 Systems 
 Enterprise 
 Limited*              14,039   14.8              Process modelling software and services 
-------------  --------------  -----  --------------------------------------------------- 
Radnor House 
School 
(Holdings) 
Limited*               11,564   12.2           Independent schools for children aged 5-18 
-------------  --------------  -----  --------------------------------------------------- 
Chonais River 
Hydro                                  Owner and operator of a 2 MW hydro-power scheme in 
Limited                 4,125    4.3                               the Scottish Highlands 
-------------  --------------  -----  --------------------------------------------------- 
Bravo Inns II 
 Limited                3,796    4.0                  Owner and operator of freehold pubs 
-------------  --------------  -----  --------------------------------------------------- 
Mirada 
Medical                                  Developer of medical imaging software using Deep 
Limited                 3,428    3.6                                             Learning 
-------------  --------------  -----  --------------------------------------------------- 
Quantexa                                   Network analytics platform to detect financial 
Limited                 3,202    3.4                                                crime 
-------------  --------------  -----  --------------------------------------------------- 
Proveca 
Limited                 2,739    2.9        Reformulation of medicines for paediatric use 
-------------  --------------  -----  --------------------------------------------------- 
Gharagain 
River Hydro                           Owner and operator of a 1 MW hydroelectricity plant 
Limited                 2,198    2.3                            in the Scottish Highlands 
-------------  --------------  -----  --------------------------------------------------- 
Egress 
Software 
Technologies 
Limited                 2,114    2.2     Encrypted email & file transfer service provider 
-------------  --------------  -----  --------------------------------------------------- 
Bravo Inns 
 Limited                2,078    2.2                  Owner and operator of freehold pubs 
-------------  --------------  -----  --------------------------------------------------- 
 
 
   *Refer to material events and transactions after the period end below 
 
   A full breakdown of the Company's portfolio can be found on the 
Company's webpage on the Manager's website at 
https://www.globenewswire.com/Tracker?data=0ifSVyUV2cDAQcqwCUT-UYNCW5l05yqWj8dpJH12NvZdlBdRS_QFr9_k6sOnjG3nLjeJ7XygerwHf6mNMxkuu-4RZazrO_1wkFtEDFF1wKcbCrs4BKJq2ERU_aGIkTSm 
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 transactions: 
 
 
   -- Proceeds of GBP14.0 million received from the sale of Process Systems 
      Enterprise Limited; 
 
   -- Following a restructuring of Radnor House School (Holdings) Limited, 
      Radnor House Twickenham was sold generating proceeds of GBP6.5 
      million;Investment of GBP1,486,000 in a new portfolio company, Cantab 
      Research Limited (trading as Speechmatics), a provider of low footprint 
      automated speech recognition which can be deployed in the cloud, on 
      premise or on device across 29 languages; 
 
   -- Investment of GBP136,000 in an existing portfolio company, Healios 
      Limited, a provider of an online platform delivering family centric 
      psychological care primarily to children and adolescents; 
 
   -- Investment of GBP111,000 in an existing portfolio company, Oviva AG, a 
      technology enabled service business in medical nutritional therapy (MNT); 
      and 
 
   -- Investment of GBP85,000 in an existing portfolio company, uMotif Limited, 
      a patient engagement and data capture platform for use in real world and 
      observational research. 
 
 
   There have been no further significant events or transactions between 1 
October 2019 and 11 November 2019 that the Board is aware of which would 
have had a material impact on the financial position of the Company. 
 
   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 
https://www.globenewswire.com/Tracker?data=0ifSVyUV2cDAQcqwCUT-UYNCW5l05yqWj8dpJH12NvYfnBkN0eMQnc0_O0q4S9bqEtEAuE1spTk0tG-55o2wI_DEEdUqnUlUIDt_3y-yrIXVO5AHzC83XQCN7S92trKk 
www.albion.capital/funds/AATG. 
 
   Dr. Neil Cross, Chairman 
 
   11 November 2019 
 
   For further information please contact: 
 
   Albion Capital Group LLP -- tel: 020 7601 1850 
 
 
 
 
 
 

(END) Dow Jones Newswires

November 11, 2019 11:20 ET (16:20 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
Grafico Azioni Albion Technology & Gene... (LSE:AATG)
Storico
Da Feb 2024 a Mar 2024 Clicca qui per i Grafici di Albion Technology & Gene...
Grafico Azioni Albion Technology & Gene... (LSE:AATG)
Storico
Da Mar 2023 a Mar 2024 Clicca qui per i Grafici di Albion Technology & Gene...