REG - RIT Cap. Partners - Net Asset Value(s)

RIT Capital PartnersAnnouncement

17/04/2025 07:00

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RNS Number : 3563F  RIT Capital Partners PLC  17 April 2025

RIT Capital Partners PLC (LEI: P31Q1NLTW35JJGHA4667)

17 April 2025

Monthly Valuation Update and Factsheet

RIT Capital Partners plc ("RIT" or the "Company") announces that its unaudited
diluted NAV at 31 March 2025 (with debt at fair value) was 2,599p per £1
ordinary share (28 February 2025: 2,689p), -3.4% from the previous month,
outperforming the ACWI (50% £), which was down -5.3%.  Q1 NAV per share
total return was -0.6%, outperforming the ACWI (50% £), which was -3.1%.

RIT's Factsheet, which includes performance highlights and commentary for the
month of March 2025, is available via this link:

https://www.ritcap.com/wp-content/uploads/2025/04/RIT_Factsheet_march_2025.pdf

 

Portfolio update - Webull Corporation

One of the Company's private investments - Webull - a digital investment
platform, merged with SK Growth Opportunities Corp, a Special Purpose
Acquisition Company ("SPAC"), and commenced trading on the Nasdaq stock
exchange under the ticker symbol: BULL on 11 April 2025.  The Company's
31 December 2024 valuation of Webull was $64m (£50m).  Following a
restructuring of our investment in Webull for the purposes of the SPAC merger,
our investment now includes listed Class A ordinary shares as well as other
positions in Webull's capital structure.  The estimated value of our entire
position in Webull at the closing price on 11 April 2025 of $13.25 per Class A
ordinary share, was approximately $121m or £93m of which around $106m or
£81m was in ordinary shares. Along with other pre-merger shareholders, we are
subject to customary lock-up provisions.  We note that while these lock-up
provisions are in place, a limited number of shares are available to trade,
which can result in higher stock volatility.

 

An updated valuation for Webull will be reflected in the 30 April 2025 NAV
which will be released to shareholders in mid-May as normal.

For more information:

J. Rothschild Capital Management (Manager):

T: 020 7647 8565

E: investorrelations@ritcap.co.uk

 

Deutsche Numis (Joint broker):

Nathan Brown, Vicki Paine

T: 020 7260 1000

 

JP Morgan Cazenove (Joint broker):

William Simmonds

T: 020 3493 8000

 

Brunswick Group (Media enquiries):

Nick Cosgrove, Sofie Brewis

T: 020 7404 5959

E: RIT@BrunswickGroup.com

 

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