REG-Albion Crown VCT PLC: Interim Management Statement

Albion Crown VCTAnnouncement

27/11/2025 11:45

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20251127:nGNE6XKF8h&default-theme=true


Albion Crown VCT PLC 
Interim Management Statement
LEI Code: 213800SYIQPA3L3T1Q68

Introduction
I present Albion Crown VCT PLC (the “Company”)’s interim management
statement for the period from 1 July 2025 to 30 September 2025.

Performance and dividends

Ordinary shares
The Ordinary shares unaudited net asset value (NAV) as at 30 September 2025
was £117.0 million or 30.24 pence per Ordinary share, a decrease of 0.09
pence per Ordinary share (0.30%) since 30 June 2025.

After accounting for the dividend of 0.76 pence per Ordinary share, to be paid
on 5 December 2025 to shareholders on the register on 7 November 2025, the NAV
is 29.48 pence per Ordinary share.

C Shares
The C shares unaudited NAV as at 30 September 2025 was £52.4 million or 39.83
pence per C share, a decrease of 0.26 pence per C share (0.65%) since 30 June
2025.

After accounting for the dividend of 1.00 pence per C share, to be paid on 5
December 2025 to shareholders on the register on 7 November 2025, the NAV is
38.83 pence per C share.

Fundraising
On 23 October 2025 the Company announced the publication of its prospectus for
the Albion VCTs Top Up Offers 2025/26 of new Ordinary shares seeking to raise
up to £20 million (before issue costs), with an overallotment facility of up
to an additional £10 million. The Offers opened for applications on 3
November 2025. Further details can be found at www.albion.capital/offers.

Portfolio
As detailed in the Annual Report and Financial Statements for the year ended
30 June 2025, after reviewing detailed cash flow forecasts, the Board has
agreed with the Manager that the current investment focus for the C share
class will be on supporting existing portfolio companies and not to make
further new investments. This is to ensure that the C share class has
sufficient cash resources for follow-on investments, dividends and share
buybacks.

The following investments have been made during the period from 1 July 2025 to
30 September 2025:

 New investments        Ordinary shares  C shares  Activity                                                                                                                    
                        £’000            £’000     
 Agio Ratings           776              -         Credit ratings agency for the digital assets market                                                                         
 Fit Collective Labs    188              -         AI-powered platform to enable better understanding of Stock Keeping Unit (“SKU”) level economics for fashion retailers      
 Total new investments  964              -                                                                                                                                     



 Further investments        Ordinary shares  C shares  Activity                     
                            £’000            £’000     
 Tem-Energy                 253              32        Energy trading platform      
 PerchPeek                  144              10        Digital Relocation Platform  
 Total further investments  397              42                                     

Combined top ten holdings as at 30 September 2025:

 Investment                          Carrying value £’000                 % of combined net asset value  Activity                                                                                                            
                                     Ordinary shares  C shares  Combined  
 Quantexa                            20,877           -         20,877    12.3%                          Network analytics platform to detect financial crime                                                                
 Gravitee Topco (T/A Gravitee.io)    5,399            5,678     11,077    6.5%                           API management platform                                                                                             
 Oviva                               6,882            -         6,882     4.1%                           A technology enabled service business in medical nutritional therapy (“MNT”)                                        
 Chonais River Hydro                 2,033            3,557     5,589     3.3%                           Owner and operator of a 2 MW hydro-power scheme in the Scottish Highlands                                           
 Runa Network                        2,980            2,497     5,477     3.2%                           Cloud platform and infrastructure that enables corporates to issue digital incentives and payouts                   
 The Evewell Group                   2,680            2,704     5,384     3.2%                           Operator and developer of women’s health centres focusing on fertility                                              
 Elliptic Enterprises                1,798            3,140     4,938     2.9%                           Provider of Anti Money Laundering services to digital asset institutions                                            
 TransFICC                           2,691            2,044     4,735     2.8%                           A provider of a connectivity solution, connecting financial institutions with trading venues via a single API       
 Proveca                             4,689            -         4,689     2.8%                           Reformulation of medicines for children                                                                             
 Cantab Research (T/A Speechmatics)  1,560            2,291     3,851     2.3%                           Provider of low footprint automated speech recognition which can be deployed in the cloud, on premise or on device  

A full breakdown of the Company’s Ordinary and C share portfolios can be
found on the Company’s webpage on the Manager’s website at
www.albion.capital/vct-funds/CRWN.

Share buy-backs
During the period from 1 July 2025 to 30 September 2025, the Company did not
buy back any shares as it was in a close period.

It remains the Board’s policy to buy back Ordinary and C 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 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
On 23 October 2025, the Company announced the publication of its prospectus
for the Albion VCTs Top Up Offers 2025/26 as detailed above.

The Company disposed of its holding in The Evewell Group for initial proceeds
of £5.2 million (Ordinary shares £2.6 million; C shares: £2.6 million),
representing a 2.8x return on cash invested (including interest and dividends
received) with the potential to return 3.2x through an earnout.

Further information

In line with the Merger Circular approved in December 2024, the C share class
(CRWC) will convert into Ordinary shares (CRWN) on a relative Net Asset Value
basis as at 30 June 2026, which is expected to complete in November 2026.

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/vct-funds/CRWN.

Richard Glover, Chairman
27 November 2025

For further information please contact:
Vikash Hansrani
Operations Partner
Albion Capital Group LLP – Tel: 020 7601 1850