PEMBROKEÂ VCTÂ PLC
for the period from 1 April to 30 June 2017
PembrokeÂ VCTÂ plc (the â€œCompanyâ€) presents its quarterly report for the period from 1 April to 30 June 2017.
â€¢ Â£0.7 million invested in the quarter to 30 June 2017
â€¢ Total investments of Â£28.8 million to date, including Â£1.5m in investments which have been exited
â€¢ Interim dividend of 1p per Ordinary Share and 1p per B Ordinary Share paid on 7 June 2017
This quarterly report contains information that covers the period up to the date of its publication.
The unaudited net asset value of the Company at 30 June 2017 was Â£46.0 million, up from Â£36.4 million (audited) at 31 March 2017, reflecting additional subscriptions to the Company in the period less the payment of the interim dividend and other movements in the reserves of the Company. The net asset value was Â£20.5 million in respect of the Ordinary Share class and Â£25.5 million in respect of the B Ordinary Share class, and equates to an unaudited net asset value per share of 113.31 pence for the Ordinary Share class and 103.30 pence for the B Ordinary Share class.
In total, an additional Â£0.7 million was invested in the quarter in follow-on investments. All investments were made by the B Ordinary Share class.
Investments are held at fair value. During the quarter to 30 June 2017, the value of Zenos cars was increased from Â£nil to Â£45,000 to reflect amounts recovered from administration. There were no other changes made to the assessment of fair values of investments in the portfolio.
Investments made in the period
In the quarter ended 30 June 2017, the Company invested a total of Â£0.7 million in follow-on investments in 2 portfolio companies to support their continued growth: Â£0.3 million was invested in the form of equity to Alexa Chung and Â£0.4 million was in the form of a loan to Sourced Market.
Investments made post-period end
Between the end of the period and the date of this announcement, Â£1.1 million has been invested in 2 follow-on investments within the portfolio and 1 new investment. The follow on investments were Â£0.2 million in the form of equity to Plenish and Â£0.2 million in the form of a convertible loan to Boom Cycle. The new investment was an Â£0.7 million equity investment in Carousel Ventures Limited, the holding company for Heist Studios, an innovative maker of premium hosiery.
B Ordinary Share Offer
The Companyâ€™s B Ordinary Share Offer closed on 30 June 2017 having raised a total of Â£13.9m.
About the Company
PembrokeÂ VCTÂ plc (the â€œCompanyâ€) is a generalistÂ VCTÂ focused on early stage investments in the leisure and luxury brands sectors. The Company invests in a diversified portfolio of small, principally unquoted companies, and selects those which Oakley Investment ManagersÂ LLPÂ believes provide the opportunity for value appreciation.
The Company is not aware of any significant event or transaction which has occurred between 1 April 2017 and 7 September 2017 which has had a material effect on the financial position of the Company and has not been detailed above.
For further information, please contact:
PembrokeÂ VCTÂ plc
+44 20 7766 6900
+44 7917 080 365
Oakley Investment ManagersÂ LLPÂ (Manager)
+44 20 7766 6900
Andrew Wolfson/Simon Male
The City Partnership (UK) Limited (Company Secretary)
+44 131 510 7465