REG - Mindflair PLC - Net asset value update

MindflairAnnouncement

30/01/2025 07:00

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RNS Number : 1997V  Mindflair PLC  30 January 2025

30 January 2025

Mindflair plc

("Mindflair" or the "Company")

Net asset value update

Mindflair, the company investing in next-generation technology focused on AI,
is pleased to provide an NAV update in relation to certain of its investments,
namely the first Sure Valley Ventures fund ("SVV1") and Sure Ventures plc ("SV
plc") which have both just published their net asset values ("NAVs") as at 31
December 2024. Mindflair holds a 13% direct interest in SVV1 and a 23.6%
interest Sure Ventures plc, who in turn has a 25.9% holding in SVV1.

As at 30 June 2024, the date of the Company's interim results for the six
months to 30 June 2024, the value of the Company's investment in SVV1 amounted
to £5,445,702. This is based on SVV1's NAV calculation as provided to its
investors. As at 31 December 2024, this figure had increased by £1,907,675
(or 35%) to £7,353,377.

As at 30 June 2024, the value of the Company's investment in SV plc amounted
to £1,088,225. This was based on the SV plc share price of 72.5 pence as at
that date. SV plc's NAV at 31 December 2024 amounted to 148 pence per SV plc
share. As at 31 December 2024, the value of Mindflair's investment in SV plc,
which includes an additional investment of £300,000 made in August 2024, was
£1,489,768, based on the SV plc share price of 82 pence as at that date. SV
plc's NAV at 31 December 2024 amounted to 181 pence per SV plc share. Since 31
December 2024, SV plc's share price has increased to 97.5 pence as of 29
January 2025.

This increase in value of both investments has principally been driven by the
impact of the increasing valuation of Infinite Reality ("iR") which forms part
of the SVV1 portfolio as a result of SVV1's sale of its holding in Landvault
to iR as announced in July 2024.

Nicholas Lee, a Director of Mindflair, said:

"It is very encouraging to see how two material investments within the
Company's portfolio have significantly increased in value over the last six
months. We look forward to providing further updates on the portfolio in due
course."

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement. The person who arranged for the release of
this information is Nicholas Lee, a director of the Company.

 

Enquiries:

 

 Mindflair plc

 Nicholas Lee, Director            Tel: +44 (0) 20 3368 8961
 Nominated Adviser                 Tel: +44 (0) 20 7213 0880

 Cairn Financial Advisers LLP

 Liam Murray/Ludovico Lazzaretti

 Joint broker                      Tel: +44 (0) 20 7469 0935

 Peterhouse Capital Limited        Tel: +44 (0) 20 7469 0936

 Duncan Vasey/Lucy Williams
 Joint broker                      Tel: +44 (0) 20 7601 6100

 Shard Capital Partners LLP

 Damon Heath

 

Notes to Editors

Mindflair plc (AIM: MFAI) is an investment company providing investors with
access to a portfolio of next generation technology businesses focused on AI
with significant growth potential. The Company is building an investment
portfolio of high-tech businesses focused on Artificial Intelligence, across
such areas as Internet of Things, Cyber Security, Machine Learning, Immersive
Technologies and Big Data, which the Board believes demonstrate evidence of
traction and the potential for exponential growth, due to increasing global
demand for development in these sectors. For further information, visit:
http://www.mindflair.tech/.

 

 

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