LEI Code 213800FDDMBD9QLHLB38
Interim Management Statement
Introduction
I present
Performance and dividends
The Company's unaudited net asset value (“NAV”) on
Fundraising and share issues
During the period from
Date | Number of shares issued | Issue price per share | Net invested £’000 |
567,025 | 89.46p | 488 |
The Company announced on
Portfolio
The following investments have been made during the period from
New investments | £000s | Activity |
Phasecraft | 418 | Software for Quantum Computers |
Kennek | 171 | Vertical software for lenders |
Total new investments | 589 |
Further investments | £000s | Activity |
Gravitee | 568 | API management platform |
uMed | 391 | A middleware technology platform that enables life science organisations to conduct medical research programmes |
Accelex | 89 | Data extraction and analytics technology for private capital markets |
Total further investments | 1,048 |
Top ten holdings (on
Carrying value £000s | % of net asset value | Activity | |
Quantexa | 24,958 | 20.8 | Network analytics platform to detect financial crime |
Proveca | 9,131 | 7.6 | Reformulation of medicines for children |
8,890 | 7.4 | Encrypted email & file transfer service provider | |
Oviva | 4,424 | 3.7 | A technology enabled service business in medical nutritional therapy (MNT) |
3,552 | 3.0 | Independent school for children aged 2-18 | |
2,618 | 2.2 | Operator and developer of women’s health centres focusing on fertility | |
Chonais River Hydro | 2,288 | 1.9 | Owner and operator of a 2 MW hydro-power scheme in the |
The Street by Street Solar Programme | 2,199 | 1.8 | Owner and operator of photovoltaic systems on domestic properties in the |
Convertr Media | 1,872 | 1.6 | Digital lead generation software |
Regenerco Renewable Energy | 1,804 | 1.5 | Generator of renewable energy from roof top solar installations |
A full breakdown of the Company’s portfolio can be found on the Company’s webpage on the Manager’s website at www.albion.capital/funds/AADV.
Share buy-backs
During the period from
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% discount to net asset value, so far as market conditions and liquidity permit.
Material events and transactions after the period end
- As announced on
6 October 2023 , the Company sold a proportion of its holding in Quantexa at its current holding value returning proceeds of £2.7m; and - As announced on
30 October 2023 , following a formal tender process,Johnston Carmichael LLP were appointed the Company's Auditor.
There have been no other material events or transactions after the period end to the date of this announcement.
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 www.albion.capital/funds/AADV.
For further information please contact:
Vikash Hansrani
Operations Partner
Telephone: 020 7601 1850
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