Business
Portfolio Update
Portfolio Update.
About this update from Molten Ventures Plc
[{"type":"text","content":"\n\nMolten Ventures plc\n(\"Molten Ventures\", \"Molten\", the \"Group\" or the \"Company\")\nPortfolio Update \nMolten Ventures (LSE: GROW, Euronext Dublin: GRW), a leading venture capital firm investing in and developing high-growth digital technology businesses, notes the announcement by Revolut on 16 August 2024 in respect of its secondary share sale at a $45 billion valuation.\nBased on the valuation implied by the share sale, excluding any adjustments which Molten's valuation policy may apply, the gross value of Molten's holding in Revolut would be approximately £160m which would represent a circa £95m uplift (before deductions) to its gross carrying value of £65m as at 31 March 2024.\nThe impact on Molten's net asset value will need to reflect deductions in respect of carried interest, any further valuation adjustments and, for this particular holding, corporation tax on capital gains (currently at 25%). These will be evaluated and finalised as part of Molten's interim results to 30 September 2024.\nThe Company will provide a further update at the time of its trading announcement ahead of the interim results.\nMartin Davis, Chief Executive Officer, Molten Ventures, commented:\n\"Revolut has recently gone from strength to strength. It is great to see the business able to reward its people for their contribution to its growth, and at a valuation which provides significant upside to our own. This shows the benefit to our investors of the prudent approach we take to NAV and we look forward to updating on the precise uplift in more detail when we next report results.\"\n \n-ENDS-\nEnquiries:\n \n\n\n\n\nMolten Ventures plc\nMartin Davis (Chief Executive Officer)\nBen Wilkinson (Chief Financial Officer)\n \n\n\n+44 (0)20 7931 8800\[email protected]\n \n\n\n\n\nDeutsche Numis\nJoint Financial Adviser and Corporate Broker \nSimon Willis\nJamie Loughborough\nIqra Amin\n \n\n\n+44 (0)20 7260 1000\n \n\n\n\n\nGoodbody Stockbrokers\nJoint Financial Adviser and Corporate Broker,\nEuronext Dublin Sponsor\nDon Harrington\nTom Nicholson\nWilliam Hall\n \n\n\n+44 (0) 20 3841 6202\n \n\n\n\n\nSodali & Co\nPublic relations\nElly Williamson\n \n \n\n\n+44 (0)7970 246 725\[email protected]\n\n\n\n\n \n \nAbout Molten Ventures\n \nMolten Ventures is a leading venture c...