NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION
17 February 2020
Augmentum Fintech
plc
interactive investor’s recommended
offer for Share plc
Augmentum Fintech plc (LSE: AUGM) (“Augmentum” or the
“Company”), the UK’s only publicly listed investment company
focusing on the fintech sector, notes the announcement this
morning from Share plc of interactive investor’s (“ii”) recommended
offer for Share plc, owner of The Share Centre (the
“Announcement”). The acquisition, which is subject to shareholder
approval and other conditions, is expected to complete in Q3
2020.
Today’s offer for Share plc by ii would imply a revised
valuation of the Company's holding in ii of approximately £20.7
million, based on the implied valuation for ii of £675 million
stated in the Announcement, equating to an implied uplift of
approximately £5.9 million compared to the last reported fair value
of the Company’s investment in ii (£14.8 million as at 30 September 2019 (unaudited)).
This announcement does not constitute or describe an updated net
asset value (“NAV”) of the Company. The Company's NAV as at
31 March 2020 will be calculated in
accordance with its valuation policy and is expected to be reported
in July 2020 in line with the
Company’s scheduled reporting timetable. Shareholders should note
that the calculation of the NAV, and the NAV per ordinary share, as
at 31 March 2020 will take account of
the latest valuations of all of the Company's investments and the
updated carried interest calculation.
For further information please contact:
| Augmentum Fintech |
|
| Tim Levene, Portfolio
Manager |
+44 (0)20 3961
5420 |
| Nigel Szembel, Investor
Relations |
+44 (0)7802
362 088 / nigel@augmentum.vc |
| Peel Hunt |
|
| Liz Yong / Luke
Simpson |
+44 (0)20 7418
8900 |
| N+1 Singer |
|
| Harry Gooden / James Moat |
+44 (0) 20 7496
3000 |
|
|
| Frostrow |
|
| Victoria Hale, Company
Secretary |
+44 (0)20 3170
8732
victoria.hale@frostrow.com |
About Augmentum
Augmentum invests in fast growing fintech businesses that are
disrupting the banking, insurance, asset management and wider
financial services sectors. Augmentum is the UK’s only publicly
listed investment company focusing on the fintech sector in the UK
and Europe, having launched on the
main market of the London Stock Exchange in 2018, giving businesses
access to patient capital and support, unrestricted by conventional
fund timelines.