Business
Final Results & Notice of AGM
Final Results & Notice of AGM.
About this update from Mindflair Plc
[{"type":"text","content":"\n\n27 June 2025\nMindflair plc\n(\"Mindflair\" or the \"Company\")\nFinal Results & Notice of AGM\n \nThe Board of Mindflair plc (AIM: MFAI), the investment company investing in next generation technology with a focus on AI, announces its audited results for the year ended 31 December 2024.\n \nNotice of AGM\nThe Company also announces that a Notice of Annual General Meeting (\"AGM\") has been sent to shareholders of the Company, convening a meeting to be held at the offices of Orrick, Herrington & Sutcliffe (UK) LLP, 107 Cheapside, London, EC2V 6DN on 23 July 2025 at 11.00 am.\n \nA copy of the notice of AGM is available to download from the Company's website at: https://mindflair.tech/\n \nFinancial highlights During the period\n• Net asset value (\"NAV\") increased significantly to £10,793,000 as at the year‐end (31 December 2023: £5,844,000). This Increase has been driven by the growth in value of the SVV investments, principally as a result of the increase in the value of the investment in Infinite Reality\n• Profit before tax generated of £3,159,000 (31 December 2023: Loss of £2,665,000)\n• NAV per share of 2.05 pence per share (2023: 2.13 pence) compared to a year end share price of 0.6 pence and a current price of 0.95 pence.\n• The series of two‐year loan notes amounting to £1.235 million was restructured and reprofiled\n• New funding of £925,000 raised in July 2024 and further funding of £490,000 raised in December 2024, along with the issue of new shares in connection with the reprofiling of the series of loan notes\nPost period end\n• Disposal of interests in Getvisibility in April 2025 generating proceeds of around £2.6 million and profit of £0.54 million on just the Company's direct investment. This was a significant inflow compared to the Company's current market capitalisation of £5.0 million\n• Remainder of the series of two‐year loan notes repaid in April 2025\nPortfolio highlights During the period\n• Disposal of Landvault to Infinite Reality in July 2024 for a headline consideration of US$450 million\n• Six investments made in exciting AI focused companies through SVV2:\n• First new investment made by SV...