REG-Augmentum Fintech Plc: No Material Impact on Augmentum - Silicon Valley Bank

Augmentum FintechAnnouncement

13/03/2023 07:15

13 March 2023

Augmentum Fintech plc

Statement in respect of Silicon Valley Bank – No Material Impact on
Augmentum

Augmentum Fintech plc (LSE: AUGM) (the “Company” or “Augmentum”),
Europe’s leading publicly listed fintech fund notes the statement(1) from
the Bank of England that, absent any meaningful further information, it
intends to apply to the Court to place Silicon Valley Bank UK Limited (“SVB
UK”) into a Bank Insolvency Procedure.

The impact on the Company, directly and indirectly via the Company’s
portfolio, is not material.

Augmentum itself has no direct exposure to SVB UK, nor to its parent company
in the United States, nor to any Silicon Valley Bank affiliate entity. As at
12 March 2023, Augmentum had cash and cash equivalents of approximately
£40million. This amount excludes the £22.8 million due from the proposed
acquisition of portfolio company Cushon by the NatWest Group, which is
expected to be received by the Company on completion of the transaction in Q2
2023 following, inter alia, receipt of the necessary regulatory approvals.

Of the 25 companies in Augmentum’s portfolio, only two have balances with
SVB UK. These two companies also have sufficient funds at other UK Tier 1
banks to continue trading whilst a resolution is sought. Together the two
companies represent 2.6% of the Company’s NAV of £292.1 million(2) and
neither are in the Company’s top ten portfolio holdings.

Notes:

1.
https://www.bankofengland.co.uk/news/2023/march/boe-statement-silicon-valley-bank-uk

2. Unaudited NAV before performance fee as at 30 September 2022. Excludes the
expected uplift from the proposed acquisition of portfolio company Cushon by
the NatWest Group.

Enquiries:

 Augmentum Fintech Tim Levene, Portfolio Manager Georgie Hazell Kivell, Marketing and IR  +44 (0)20 3961 5420 georgie@augmentum.vc  
 Quill PR Nick Croysdill, Sarah Gibbons-Cook (Press and Media)                            +44 (0)20 7466 5050 press@augmentum.vc    
 Peel Hunt LLP Liz Yong, Luke Simpson, Huw Jeremy (Investment Banking)                    +44 (0)20 7418 8900                       
 Singer Capital Markets Harry Gooden, Robert Peel, Alaina Wong (Investment Banking)       +44 (0)20 7496 3000                       
 Frostrow Capital LLP Paul Griggs, Company Secretary                                      +44 (0)20 3709 8733                       

About Augmentum Fintech

Augmentum invests in fast growing fintech businesses that are disrupting the
financial services sector. Augmentum is the UK’s only publicly listed
investment company focusing on the fintech sector in the UK and wider 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 and giving public markets investors access to a
largely privately held investment sector during its main period of growth.

Neither the content of any website referred to in this announcement nor the
content of any website accessible from hyperlinks is incorporated into, or
forms part of, this announcement.



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