I am pleased to announce that Pembroke VCT plc has launched a new share offer to raise up to £60 million. The Board continues to be impressed by the resilience and adaptability shown by the portfolio company founders and their teams since the onset of COVID‑19. The focus on founder‑led businesses is central to Pembroke’s investment strategy which has proven to be robust during this period of disruption. Whilst the social and economic challenges of COVID‑19 will continue for the medium term, the unwinding of government restrictions have begun to have a positive impact across the Company’s portfolio of businesses.
After raising over £150 million since 2012, Pembroke has invested £96.6 million in 51 companies. The Company has recently invested £2.75 million across two new and innovative businesses: OnePlan and COAT. OnePlan aims to enhance event planning, allowing organisers to collaborate in real‑time on a single platform. COAT aims to counter the negative aspects associated with the paint industry and meet the needs of contemporary customers with a focus on quality, sustainability and customer experience. The additional cash will allow the Company to grow its existing portfolio of investments, take advantage of a healthy pipeline of prospective investment opportunities and seek to continue Share buybacks, following the £9.7 million buyback in April 2021.
The Company has passed the £150 million net asset hurdle and is in a strong position to take advantage of new high‑quality investment opportunities as well as supporting the continued growth of its existing portfolio businesses. The Board and the Manager will continue to monitor the effects of COVID‑19 whilst also taking advantage of emerging opportunities.
As at June 2021 the net asset value of the B Ordinary Shares was 119.3 pence and the Total Return per B Ordinary Share was 141.3 pence.
If you are not already, I look forward to welcoming you as a Shareholder.
8 September 2021
The latest downloads from Pembroke to help you understand more about the business.
Half Yearly Report 2021