Business
Final Results Year ended 31 December 2022
Final Results Year ended 31 December 2022.
About this update from Tekcapital Plc
[{"type":"text","content":"\n\n\n \nThe information contained within this announcement is deemed by the Company (Companies House registration number 08873361) to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\")s. With the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n \nTekcapital PLC\n(\"Tekcapital\", \"the Company\" or the \"Group\")\nFinal Results for the year-ended 31 December 2022\n \n \nTekcapital plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating valuable companies from investing in university technologies that can improve people's lives, announces its audited results for the year ended 31 December 2022.\n \nFinancial highlights\n \nOur investment objective is to achieve long-term growth of net assets and returns on invested capital through the commercialisation of university discoveries that can make a positive impact on people's lives. In 2022 we had a productive year for long-term value creation. Our portfolio companies achieved significant milestones, however due to unrealized reductions in the end of period valuations of Lucyd and Belluscura, our profitability, net assets and net assets per share were commensurately impacted.\n \n• Net Assets US$57.8m (2021: US$68.1m)\n• NAV per share US$0.38 (2021: US$0.48)\n• Portfolio valuation US$54.9m (2021: US$62.5m)\n• Total loss after tax: US$12.7m, resulting primarily from net unrealised fair value reduction of US$11.0m (2021: profit of US$26.4m),\n• Share placings totalling US$2.5m completed during the period (2021: US$9.7m).\n \nThe Annual General Meeting (\"AGM\") of Tekcapital Plc will be held at the offices of Bird & Bird LLP, 12 New Fetter Lane, London EC4A 1JP on 22 June 2023 at 9.00 a.m. (British Summer Time). The annual report and the formal notice of the 2023 AGM will be posted to shareholders on the 26 May 2023.\n \nThe notice of AGM will be available to review on the Company's website at: www.tekcapital.com.\n \nInvestment Portfolio\nMicroSalt® Ltd (97.1%) www.microsaltinc.com\nMicroSalt Ltd (\"Microsalt\") manufactures Mi...