REG-Albion Enterprise VCT PLC : Interim Management Statement <Origin Href="QuoteRef">AAEV.L</Origin>

Albion Enterprise VCTAnnouncement

22/08/2017 16:35

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ALBION ENTERPRISE VCT PLC

Interim Management Statement

Introduction

I am pleased to present Albion Enterprise VCT PLC (the "Company")'s interim
management statement for the period from 1 April 2017 to 30 June 2017.

Performance and dividends

The Company's unaudited net asset value (NAV) as at 30 June 2017 was £52.23
million or 100.78 pence per share (excluding treasury shares), a decrease of
1.01 pence per share (1.00 per cent.) since 31 March 2017.

After accounting for the dividend of 2.50 pence per share to be paid on 31
August 2017 to shareholders on the register on 4 August 2017, the NAV is 98.28
pence per share.

Portfolio

The following investments have been made during the period from 1 April 2017
to 30 June 2017:

 New investments                    £000s  Activity                                                                                                       
 MPP Global Solutions Limited        950   Offers a cloud billing platform for enterprise subscription businesses in the media, sport and retail sectors  
 G.Network Communications Limited    273   Fibre optic broadband provider in central London                                                               
 Locum's Nest Limited                100   Operates a digital platform for NHS locum doctors                                                              
 Total new investments              1,323                                                                                                                 

 Further investments           £000s  Activity                                      
 Grapeshot Limited              167   Provider of digital marketing software        
 Panaseer Limited               100   Provides a cyber security service             
 Mirada Medical Limited         85    Develops medical imaging software             
 Aridhia Informatics Limited    15    Healthcare informatics and analysis provider  
 Total further investments      367                                                 

 Top ten holdings (as at 30 June 2017)

 Investment                               Carrying value  £000s  % of net asset value  Activity                                                                              
 Radnor House School (Holdings) Limited           5,927                  11.3%         Independent schools for children aged 5-18.                                           
 Egress Software Technologies Limited             3,468                  6.6%          Encrypted email & file transfer service provider                                      
 Bravo Inns II Limited                            2,483                  4.8%          Owner and operator of freehold pubs                                                   
 Mirada Medical Limited                           2,288                  4.4%          Developer of medical imaging software                                                 
 Grapeshot Limited                                2,166                  4.1%          Provider of digital marketing software                                                
 Proveca Limited                                  1,910                  3.7%          Repositioning of paediatric medicines                                                 
 Regenerco Renewable Energy Limited               1,752                  3.4%          Generator of renewable energy from roof top solar installations                       
 Earnside Energy Limited                          1,667                  3.2%          An anaerobic digestion plant                                                          
 Alto Prodotto Wind Limited                       1,530                  2.9%          Owns and operates community scale wind energy projects on brownfield sites in the UK  
 Greenenerco Limited                              1,435                  2.7%          Owns & operates a 500kW wind project in the UK                                        

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/AAEV. 

Share buy-backs

During the period from 1 April 2017 to 30 June 2017, there were no share
buy-backs undertaken by the Company.

Fundraising and share issues

During the period from 1 April 2017 to 7 April 2017, the Company issued the
following shares under the Albion VCTs Prospectus Top Up Offers 2016/2017:

 Date          Number of shares issued  Issue price per share (including costs of issue)    Net consideration received £'000 
 7 April 2017                   294,610 99.4p to 100.5p                                                                  287 

The Offer was fully subscribed and raised net proceeds of £5.82 million. The
proceeds of the Offer are being used to provide further resources to the
Company at a time when a number of attractive new investment opportunities are
being seen.

Material events and transactions after the period end

Portfolio

After the period end, the Company had the following material investment
transactions:
* Investment of £1,172,000 in Egress Software Technologies Limited, which
provides an encrypted email & file transfer service; 
* Investment of £273,000 in G.Network Communications Limited, which provides
fibre optic broadband in central London; 
* Investment of £211,100 in Black Swan Data Limited, which provides data
analysis that supports corporate decision making; 
* Investment of £53,000 in Abcodia Limited, which delivers validation and
discovery of serum biomarkers; 
* Investment of £15,000 in Aridhia Informatics Limited, which provides
healthcare informatics and analysis; 
* Investment of £10,000 in Beddlestead Farm Limited, which is a seed
investment to develop and operate dedicated wedding venues in the UK.
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 April 2017 to 22 August 2017.

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/AAEV. 

Maxwell Packe, Chairman

22 August 2017

For further information please contact:

Patrick Reeve, Albion Capital Group LLP - Tel: 020 7601 1850

LEI Code: 213800OVSRDHRJBMO720
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the content, accuracy and originality of the information contained therein.
Source: Albion Enterprise VCT PLC via Globenewswire