REG - CT Private Eq Trust - 3rd Quarter Results
25/11/2022 07:00
For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221125:nRSY5527Ha&default-theme=true
RNS Number : 5527H CT Private Equity Trust PLC 25 November 2022
To: Stock Exchange For immediate release:
25 November 2022
CT Private Equity Trust PLC
Quarterly results for the three months ended 30 September 2022 (unaudited)
· Net asset value of 711.75p per Ordinary Share reflecting a total
return for the three months of 9.3 per cent for the Ordinary Shares
· Quarterly dividend of 6.62p per Ordinary Share to be paid on 31
January 2023
· Dividend yield of 6.3 per cent based on the period end share price
(1).
· As at 30 September 2022 net debt was £23.7 million equivalent to a
gearing level of 4.4%.
· Since the period end San Siro has been sold realising £34.9 million
for the Company representing 8.9x cost and 90% IRR.
(1) Calculated as dividends of 5.65p paid on 29 April 2022, 6.05p
paid on 29 July 2022, 6.31p paid on 31 October 2022 and 6.62p payable on 31
January 2023, divided by the Company's share price of 390.00p as at 30
September 2022.
Manager's Review
Introduction
As at 30 September 2022 the net assets of the Company were £518.5 million
giving a Net Asset Value ("NAV") per share of 711.75p, which taking into
account the dividend of 6.05p paid on 29 July 2022, gives a total return of
9.3% for the quarter. The NAV total return over the nine-month period ended 30
September 2022 was 14.0%.
The share price total return for the quarter was -9.7% and -17.2% for the
nine-month period ended 30 September 2022. The Company's shares have traded on
a large discount to NAV which fails to reflect the underlying valuations.
At 30 September 2022 the Company had net debt of £23.7 million. The current
net debt is around £32 million prior to the receipt of the proceeds from the
sale of San Siro. The outstanding undrawn commitments are £192.8 million of
which £25.7 million is to funds where the investment period has expired. The
valuation has the usual time lag and is composed of approximately 20%
September 2022 valuations and 80% June 2022 valuations.
A dividend of 6.31p was paid on 31 October 2022. In accordance with the
Company's dividend policy the next dividend will be 6.62p which will be paid
on 31 January 2023 to shareholders on the register on 6 January 2023, with an
ex-dividend date of 5 January 2023.
New Investments
During the quarter two fund commitments, one secondary investment and three
co-investments were made.
We have increased our commitment to healthcare specialist Apposite Healthcare
III by £5 million bringing the total committed up to £10 million. The fund
is half invested and progressing well. We have committed €8 million to Volpi
III, which is the second of this Pan-European mid-market specialist's funds we
have backed. £2.6 million was invested via a secondary purchase in Kurma
Biofund, a life sciences fund managed from France. We have co-invested £7.9
million alongside The Rohatyn Group in Leader96, the Bulgaria based assembler
of e-bikes. We have co-invested £5.1 million with Peloton in 123Dentist, a
Canada based chain of dental practices. We have also co-invested £2.3 million
with MVM in Neurolens, a US developer of an innovative prismatic lens
technology to diagnose and treat digital vision syndrome. There were two
follow-on investments in co-investments this quarter both of which were to
fund add-on acquisitions. £0.8 million was added to complex care company
Orbis and £0.7 million was added to payments company Aurora Payment
Solutions.
There were a number of new investments made by the funds in quite an active
quarter. In the UK, August Equity V has been active, drawing £1.8 million for
veterinary chain Medivet, a follow-on for high acuity care provider Orbis and
cyber security specialist Cyber 360. FPE Fund III called £0.9 million for
Dynamic Planner a leading software provider to the UK wealth management
sector. Apiary called £0.4 million for MediaSense (technology enabled adviser
to global corporations) and £0.3 million for LearnPro (virtual reality
e-learning solutions for emergency services such as police, fire and rescue,
health services, etc.). In Germany, DBAG VIII and VIIIB have together called
£0.7 million for Freiheit, a pioneer in agile software development and an
additional £0.7 million for Dantherm (climate control solutions) which we
previously had exposure to through Procuritas V. In France and Italy, Chequers
Capital XVII has been active with £1.3 million called for three new
investments and one partial reinvestment; My Mobility (transportation for
disabled children and adults in France), Somacis (complex printed circuit
boards in Italy), Selini (equipment rental in Italy) and reinvestment of part
of the proceeds from Serma (electronics testing).
Med Platform II called £0.8 million for California based Natus Medical
(screening and diagnostics for neurological conditions).
The total of new investment drawn for co-investments and funds in the quarter
was £32.5 million. Total new investment for the first nine months of the year
is £69.8 million. This is well balanced by total realisations of £79.6
million for the same period.
Realisations
There were a number of significant realisations during the quarter from both
the funds and co-investment elements of the portfolio.
The largest realisation was from European buyout fund Volpi where we received
a distribution of £7.4 million which was the proceeds from the sale of Irish
IT managed services provider Version 1. This represents an excellent 5.9x cost
and an IRR of 39%.
GCP Europe II, managed by Kester Capital, achieved a strong exit of contract
research organisation Avania Clinical which specialises in medical devices.
£6.7 million was received representing 8.4x and an IRR of 46%. Our
co-investment in RGI, the Italy based provider of software to the Insurance
sector, was sold returning £3.6 million. This investment was led by Corsair
Capital and achieved 1.6x and an IRR of 12%. There is scope for the return to
improve through deferred consideration depending on the final exit proceeds
when new owner CVC sells.
Part of our holding in energy services company Ashtead Technology, which is
now listed on AIM, was sold down during the quarter returning £2.8 million.
Inflexion has had another active period for exits. From the various funds we
have received £2.3 million from the sale of wealth management company
Succession (3.4x, 20% IRR), £1.2 million from IT recruitment specialist K2
(5.0x, 36% IRR) and £0.9 million from Virgin Experience Days (23.7x, 64%
IRR).
In the Nordics, Verdane Edda has returned £1.7 million from the sale of
vitamin K2 producer Kappa Bioscience (4.3x, 80% IRR). Summa II also sold
chemicals management software company EcoOnline returning £0.5 million. In
France, Chequers Capital XVII exited electronics testing company Serma
returning £0.8 million (2.4x, 32% IRR). Chequers rolled over some of the
proceeds into the new Ardian led deal as noted above.
Lastly in Poland, Avalon MBO Fund II exited engineering and technical building
services company Stangl Technik through a sale to Astorg returning £0.5
million (5.8x, 50% IRR).
This has been a strong quarter for realisations with a total of £31.9 million
of proceeds, including associated income, received. This brings the total for
the first nine months of the year to £79.6 million.
There have been further realisations following the quarter end most notably
the exit of Italian funeral homes company San Siro which was sold by Augens
Capital to French Infrastructure fund Antin on 10 November 2022. This exit was
at a value of £34.9 million for the Company, 75% of this will be received in
cash and 25% rolled into the new deal. This represents an uplift of £23.3
million on the previous carrying value and a return of 8.9x cost and an IRR of
circa. 90%. The investment thesis of building a chain of funeral homes and
adding other facilities such as crematoria has been followed very well and
this has resulted in this exceptional outcome.
Valuation Changes
There have been numerous valuation changes over the quarter. These are mostly
positive but there has been a sizeable minority of downgrades reflecting a
range of pressures on the businesses internationally.
The largest uplift as noted above was the £23.3 million uplift for San Siro.
There was a £3.9 million uplift for the holding in F&C European Capital
Partners LP, which reflects the removal of the discount on purchase earlier in
the year. The Company as the sole remaining LP will hold the assets until
realisation and hence a discount to reflect an immediate liquidation value is
no longer appropriate. August Equity Partners IV (+£2.7 million) is up
reflecting an imminent realisation of ISO compliance services company AMTIVO
at an excellent 8.0x cost. GCP Europe II (+£3.1 million) records a gain
reflecting the sale of Avania Clinical. Other good uplifts have been recorded
by Coretrax (+£0.9 million), Rosa Mexicano (+£0.9 million) and Corpfin IV
(+£0.8 million).
Downgrades include Ambio Holdings (-£1.8 million) where despite an exit being
widely anticipated in the press, MVM have used a lower valuation. Alessa
(formerly known as Tier I CRM) has been reduced by £1.4 million as the
company has had a major change of focus with the exit of the original CRM
business. Amethyst Radiotherapy is down by £0.6 million with the manager
using a lower valuation multiple. Other downgrades include Agilitas 2015
(-£0.9 million), Procuritas IV (-£0.8 million) and DBAG VII (-£0.5
million).
Financing
The Company is currently modestly geared and this will reduce significantly on
receipt of the San Siro proceeds. Most of the borrowing facility remains
available and the facility is in place until June 2024. The cost of borrowing
is increasing but moderate gearing should still enhance shareholder returns
over the medium and longer term. The total of outstanding commitments remains
within a manageable band. Realisations are likely to come in below the
record-breaking total for 2021 but given the continuing strong run of exits
the total will be very healthy.
Outlook
Reports from the funds and co-investments are increasingly reflecting the
pressures which many investee companies are facing. These include general
inflation, energy price rises and supply chain issues to name a few. Demand in
most areas, outside certain consumer facing sectors, remains robust and many
companies are continuing to benefit from some post Covid catch up. Confidence
levels within the private equity sector and most of their underlying companies
remains good and this is manifested in strong deal pipelines. In the
tech-enabled area, which has proved very popular with private equity in recent
years, there has been a shift in buying interest towards fast growing
companies which are already profitable in preference to those with revenue
growth but without current profitability. In this regard our portfolio is well
positioned. The high degree of diversification across the portfolio, which
spans the mid-market sector across Europe and further afield, also continues
to be a distinct strength. As we approach the end of 2022, we have confidence
that the Company will continue to build value for shareholders over the medium
and longer term.
Hamish Mair
Investment Manager
Columbia Threadneedle Investment Business Limited
Portfolio Summary
Ten Largest Holdings Total Valuation £'000 % of Total Portfolio
As at 30 September 2022
San Siro 34,907 6.4
Inflexion Strategic Partners 19,295 3.5
Sigma 18,006 3.3
TWMA 14,154 2.6
Coretrax 12,950 2.4
Aliante Equity 3 11,225 2.0
Weird Fish 10,770 2.0
August Equity Partners IV 10,657 2.0
Bencis V 10,352 1.9
Aurora Payment Solutions 9,673 1.8
151,989 27.9
Portfolio Holdings
Investment Geographic Focus Total % of Total Portfolio
Valuation
£'000
Buyout Funds - Pan European
Apposite Healthcare II Europe 8,625 1.6
F&C European Capital Partners Europe 8,474 1.6
Stirling Square Capital II Europe 6,747 1.2
Apposite Healthcare III Europe 5,834 1.1
Volpi Capital Northern Europe 5,808 1.1
Agilitas 2015 Fund Northern Europe 4,754 0.9
ArchiMed II Western Europe 4,384 0.8
Astorg VI Western Europe 3,535 0.6
Silverfleet European Dev Fund Europe 1,860 0.3
Med Platform II Global 869 0.2
TDR II Annex Fund Western Europe 235 -
TDR Capital II Western Europe 211 -
ArchiMed MED III Global 201 -
Agilitas 2020 Fund Europe 29 -
Total Buyout Funds - Pan European 51,566 9.4
Buyout Funds - UK
Inflexion Strategic Partners United Kingdom 19,295 3.5
August Equity Partners IV United Kingdom 10,657 2.0
August Equity Partners V United Kingdom 5,280 1.0
Apiary Capital Partners I United Kingdom 5,046 0.9
Piper Private Equity VI United Kingdom 4,611 0.8
Inflexion Supplemental V United Kingdom 4,508 0.8
Inflexion Buyout Fund V United Kingdom 4,039 0.7
Inflexion Buyout Fund IV United Kingdom 3,501 0.6
Kester Capital II United Kingdom 3,118 0.6
Inflexion Partnership Capital II United Kingdom 2,744 0.5
RJD Private Equity Fund III United Kingdom 2,733 0.5
Inflexion Enterprise Fund IV United Kingdom 2,519 0.5
FPE Fund II United Kingdom 2,474 0.5
Dunedin Buyout Fund II United Kingdom 2,310 0.4
Horizon Capital 2013 United Kingdom 1,938 0.4
FPE Fund III United Kingdom 1,799 0.3
Inflexion Enterprise Fund V United Kingdom 1,773 0.3
Inflexion Partnership Capital I United Kingdom 1,764 0.3
Inflexion 2012 Co-Invest Fund United Kingdom 1,734 0.3
Inflexion Supplemental IV United Kingdom 1,434 0.3
Primary Capital IV United Kingdom 1,314 0.2
Piper Private Equity V United Kingdom 1,108 0.2
GCP Europe II United Kingdom 1,001 0.2
Inflexion 2010 Fund United Kingdom 916 0.2
Inflexion Buyout Fund VI United Kingdom 168 -
Piper Private Equity VII United Kingdom 32 -
August Equity Partners III United Kingdom 2 -
Total Buyout Funds - UK 87,818 16.0
Investment Geographic Focus Total % of Total Portfolio
Valuation £'000
Buyout Funds - Continental Europe
Aliante Equity 3 Italy 11,225 2.0
Bencis V Benelux 10,352 1.9
Chequers Capital XVII France 5,947 1.1
DBAG VII DACH 5,229 1.0
Vaaka III Finland 5,210 0.9
Corpfin Capital Fund IV Spain 5,059 0.9
Capvis III CV DACH 5,023 0.9
Montefiore IV France 4,213 0.8
Procuritas VI Nordic 4,133 0.8
ARX CEE IV Eastern Europe 3,993 0.7
Italian Portfolio Italy 3,862 0.7
Summa II Nordic 3,728 0.7
Procuritas Capital IV Nordic 3,497 0.6
Verdane Edda Nordic 3,235 0.6
DBAG VIII DACH 2,519 0.5
Capvis IV DACH 2,427 0.4
Summa I Nordic 2,299 0.4
Chequers Capital XVI France 2,284 0.4
DBAG Fund VI DACH 2,079 0.4
Avallon MBO Fund III Poland 2,038 0.4
NEM Imprese III Italy 1,924 0.3
Vaaka II Finland 1,818 0.3
Montefiore V France 1,528 0.3
Ciclad 5 France 1,100 0.2
Portobello Fund III Spain 1,075 0.2
DBAG VIIB DACH 1,037 0.2
Corpfin V Spain 874 0.2
Ciclad 4 France 813 0.1
Vaaka IV Finland 761 0.1
PineBridge New Europe II Eastern Europe 651 0.1
Avallon MBO Fund II Poland 633 0.1
DBAG VIIIB DACH 490 0.1
Procuritas VII Nordic 459 0.1
DBAG Fund V DACH 364 0.1
Procuritas Capital V Nordic 360 0.1
Gilde Buyout Fund III Benelux 92 -
N+1 Private Equity Fund II Iberia 64 -
Capvis III DACH 51 -
Summa III Northern Europe (123) -
Total Buyout Funds - Continental Europe 102,323 18.6
Investment Geographic Focus Total % of Total Portfolio
Valuation £'000
Total Private Equity Funds - USA
Blue Point Capital IV North America 8,672 1.6
Graycliff III United States 4,475 0.8
Camden Partners IV United States 3,309 0.6
Blue Point Capital III North America 3,110 0.6
Stellex Capital Partners North America 2,853 0.5
Graycliff IV North America 2,106 0.4
HealthpointCapital Partners III United States 534 0.1
Blue Point Capital II North America 269 -
Total Private Equity Funds - USA 25,328 4.6
Private Equity Funds - Global
F&C Climate Opportunity Partners Global 868 0.2
PineBridge GEM II Global 765 0.1
AIF Capital Asia III Asia 101 -
PineBridge Latin America II South America 63 -
Warburg Pincus IX Global 21 -
Total Private Equity Funds - Global 1,818 0.3
Venture Capital Funds
SEP V United Kingdom 8,788 1.6
MVM V Global 4,064 0.7
Kurma Biofund II Europe 3,450 0.6
SEP IV United Kingdom 1,480 0.3
Northern Gritstone United Kingdom 1,000 0.2
Pentech Fund II United Kingdom 658 0.1
Life Sciences Partners III Western Europe 363 0.1
SEP II United Kingdom 276 0.1
Alta Berkeley VI Europe 64 -
Environmental Technologies Fund Europe 63 -
SEP III United Kingdom 44 -
Total Venture Capital Funds 20,250 3.7
Direct - Quoted
Ashtead United Kingdom 4,190 0.8
Antero Global 584 0.1
Laredo Petroleum USA 31 -
Total Direct - Quoted 4,805 0.9
Secondary Funds
The Aurora Fund Europe 371 0.1
Total Secondary Funds 371 0.1
Direct - Investments/Co-investments
San Siro Italy 34,907 6.4
Sigma United States 18,006 3.3
TWMA United Kingdom 14,154 2.6
Coretrax United Kingdom 12,950 2.4
Weird Fish United Kingdom 10,770 2.0
Aurora Payment Solutions United States 9,673 1.8
Jollyes United Kingdom 8,646 1.6
AccuVein United States 8,638 1.6
Leader96 Bulgaria 8,073 1.5
Ambio Holdings United States 7,843 1.4
Swanton United Kingdom 6,726 1.2
Rosa Mexicano United States 6,702 1.2
Velos IoT (JT IoT) United Kingdom 6,695 1.2
1Med Switzerland 6,095 1.1
Avalon United Kingdom 6,055 1.1
Orbis United Kingdom 5,537 1.0
Amethyst Radiotherapy Europe 5,419 1.0
Omlet United Kingdom 5,277 1.0
123Dentist Canada 5,216 1.0
ATEC (CETA) United Kingdom 5,102 0.9
Cyberhawk United Kingdom 5,016 0.9
Prollenium North America 4,801 0.9
Contained Air Solutions United Kingdom 4,790 0.9
Ashtead United Kingdom 4,622 0.8
Dotmatics United Kingdom 4,458 0.8
Alessa (Tier1 CRM) Canada 4,110 0.7
Walkers Transport United Kingdom 4,088 0.7
Perfect Image United Kingdom 4,063 0.7
PathFactory Canada 4,058 0.7
Habitus Denmark 3,596 0.7
Agilico (DMC Canotec) United Kingdom 3,480 0.6
Collingwood Insurance Group United Kingdom 3,241 0.6
Bomaki Italy 2,975 0.5
Babington United Kingdom 2,929 0.5
Neurolens United States 2,463 0.4
Vero Biotech United States 1,547 0.3
Rephine United Kingdom 1,417 0.3
Stone Computers United Kingdom 282 0.1
Pet Network Eastern Europe 110 -
TDR Algeco/Scotsman Europe 62 -
Total Direct - Investments/Co-investments 254,592 46.4
Total Portfolio 548,871 100.0
CT PRIVATE EQUITY TRUST PLC
Statement of Comprehensive Income for the
nine months ended 30 September 2022 (unaudited)
Revenue Capital Total
£'000 £'000 £'000
Income
Gains on investments held at fair value - 71,703 71,703
Exchange losses - (1,757) (1,757)
Investment income 3,971 - 3,971
Other income 121 - 121
Total income 4,092 69,946 74,038
Expenditure
Investment management fee - basic fee (343) (3,084) (3,427)
Investment management fee - performance fee - (5,443) (5,443)
Other expenses (822) - (822)
Total expenditure (1,165) (8,527) (9,692)
Profit before finance costs and taxation 2,927 61,419 64,346
Finance costs (182) (1,639) (1,821)
Profit before taxation 2,745 59,780 62,525
Taxation - - -
Profit for period/total comprehensive income 2,745 59,780 62,525
Return per Ordinary Share 3.73p 81.32p 85.05p
CT PRIVATE EQUITY TRUST PLC
Statement of Comprehensive Income for the
nine months ended 30 September 2021 (unaudited)
Revenue Capital Total
£'000 £'000 £'000
Income
Gains on investments held at fair value - 87,235 87,235
Exchange gains - 2,790 2,790
Investment income 4,488 - 4,488
Other income 1 - 1
Total income 4,489 90,025 94,514
Expenditure
Investment management fee - basic fee (283) (2,550) (2,833)
Investment management fee - performance fee - (4,427) (4,427)
Other expenses (744) - (744)
Total expenditure (1,027) (6,977) (8,004)
Profit before finance costs and taxation 3,462 83,048 86,510
Finance costs (193) (1,738) (1,931)
Profit before taxation 3,269 81,310 84,579
Taxation - - -
Profit for period/total comprehensive income 3,269 81,310 84,579
Return per Ordinary Share 4.42p 109.97p 114.39p
CT PRIVATE EQUITY TRUST PLC
Statement of Comprehensive Income for the
year ended 31 December 2021 (audited)
Revenue Capital Total
£'000 £'000 £'000
Income
Gains on investments held at fair value - 128,313 128,313
Exchange gains - 3,686 3,686
Investment income 6,719 - 6,719
Other income 3 - 3
Total income 6,722 131,999 138,721
Expenditure
Investment management fee - basic fee (394) (3,546) (3,940)
Investment management fee - performance fee - (4,502) (4,502)
Other expenses (993) - (993)
Total expenditure (1,387) (8,048) (9,435)
Profit before finance costs and taxation 5,335 123,951 129,286
Finance costs (255) (2,298) (2,553)
Profit before taxation 5,080 121,653 126,733
Taxation - - -
Profit for year/total comprehensive income 5,080 121,653 126,733
Return per Ordinary Share 6.87p 164.53p 171.40p
CT PRIVATE EQUITY TRUST PLC
Balance Sheet
As at 30 September 2022 As at 30 September 2021 As at 31 December
2021
(unaudited) (unaudited) (audited)
£'000 £'000 £'000
Non-current assets
Investments at fair value through profit or loss 548,871 448,007 483,047
Current assets
Other receivables 717 1,074 230
Cash and cash equivalents 14,062 37,098 32,702
14,779 38,172 32,932
Current liabilities
Other payables (7,364) (6,988) (6,610)
Interest-bearing bank loan (16,437) (23,758) (15,726)
(23,801) (30,746) (22,336)
Net current (liabilities)/assets (9,022) 7,426 10,596
Interest-bearing bank loan (21,373) (20,613) (20,196)
Net assets 518,476 434,820 473,447
Equity
Called-up ordinary share capital 728 739 739
Share premium account 2,527 2,527 2,527
Special distributable capital reserve 10,037 15,040 15,040
Special distributable revenue reserve 31,403 31,403 31,403
Capital redemption reserve 1,335 1,335 1,335
Capital reserve 472,446 383,776 422,403
Shareholders' funds 518,476 434,820 473,447
Net asset value per Ordinary Share 711.75p 588.06p 640.30p
CT PRIVATE EQUITY TRUST PLC
Reconciliation of Movements in Shareholders' Funds
Nine months ended Nine months ended Year
30 September 30 September 2021 ended
2022 31 December 2021
(unaudited) (unaudited) (audited)
£'000 £'000 £'000
Opening shareholders' funds 473,447 359,483 359,483
Buyback of ordinary shares (5,014) - -
Profit for the period/total
comprehensive income
126,733
62,525 84,579
Dividends paid (12,482) (9,242) (12,769)
Closing shareholders' funds
518,476 434,820 473,447
Notes (unaudited)
1. The unaudited quarterly results have been prepared on the basis of
the accounting policies set out in the statutory accounts of the Company for
the year ended 31 December 2021. Earnings for the nine months to 30
September 2022 should not be taken as a guide to the results for the year to
31 December 2022.
2. Investment management fee:
Nine months ended Nine months ended Year ended
30 September 2022 30 September 2021 31 December 2021
(unaudited)
(unaudited)
(audited)
Revenue Capital Total Revenue Capital Total Revenue Capital Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Investment management fee - basic fee
343 3,084 3,427 283 2,550 2,833 394 3,546 3,940
Investment management fee - performance fee
- 5,443 5,443 - 4,427 4,427 - 4,502 4,502
343 8,527 8,870 283 6,977 7,260 394 8,048 8,442
3. Finance costs:
Nine months ended Nine months ended Year ended
30 September 2022 30 September 2021 31 December 2021
(unaudited)
(unaudited)
(audited)
Revenue Capital Total Revenue Capital Total Revenue Capital Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Interest payable on bank loans 182 1,639 1,821 193 1,738 1,931 255 2,298 2,553
4. Returns and net asset values
Nine months ended Nine months ended Year ended
30 September 2022 30 September 2021 31 December 2021
(unaudited)
(unaudited)
(audited)
The returns and net asset values per share are based on the following figures:
Revenue Return £2,745,000 £3,269,000 £5,080,000
Capital Return £59,780,000 £81,310,000 £121,653,000
Net assets attributable to shareholders £518,476,000 £434,820,000 £473,447,000
Number of shares in issue at end of period (excluding shares held in treasury) 72,844,938 73,941,429 73,941,429
Weighted average number of shares in issue during the period 73,509,913 73,941,429 73,941,429
(excluding shares held in treasury)
5. The financial information for the nine months ended 30 September
2022, which has not been audited or reviewed by the Company's auditor,
comprises non-statutory accounts within the meaning of Section 434 of the
Companies Act 2006. Statutory accounts for the year ended 31 December 2021,
on which the auditor issued an unqualified report, have been lodged with the
Registrar of Companies. The quarterly report is available on the Company's
website www.ctprivateequitytrust.com
Legal Entity Identifier: 2138009FW98WZFCGRN66
For more information, please contact:
Hamish Mair (Investment Manager) 0131 718 1184
Scott McEllen (Company Secretary) 0131 718 1137
hamish.mair@columbiathreadneedle.com
(mailto:hamish.mair@columbiathreadneedle.com) /
scott.mcellen@columbiathreadneedle.com
(mailto:scott.mcellen@columbiathreadneedle.com)
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END QRTPPGPCGUPPGQCRecent news on CT Private Equity Trust
See all newsREG - CT Private Eq Trust - Total Voting Rights
AnnouncementREG - CT Private Eq Trust - Total Voting Rights
AnnouncementREG - CT Private Eq Trust - Total Voting Rights
AnnouncementREG - CT Private Eq Trust - Result of AGM
AnnouncementREG - CT Private Eq Trust - Quarterly Results And Dividend Announcement
Announcement