Business
Final Year End Record Results
Final Year End Record Results.
About this update from Tekcapital Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5405K\n Tekcapital plc\n 06 May 2022\n \n \n \n \n \n \n \n \n \n \n The 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 \n \n Tekcapital PLC\n (\"Tekcapital\", \"the Company\" or the \"Group\")\n Final Results for the year-ended 30 November 2021\n \n Record Results\n \n Tekcapital 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 30 November 2021.\n \n Financial highlights\n \n \n Our 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 2021 we met this objective. It was the most productive year for value creation in the Group's history:\n \n \n \n · Net Assets increased 108% to US$68.1m, a record level (2020: US$32.7m)\n \n · NAV per share increased 37% to US$0.48 (2020: $0.35)\n \n · Portfolio valuation increased 105% to US$62.5m (2020:US$30.4m)\n \n · Total income US$29.2m (2020: US$9.9m)\n \n o Revenue from services US$0.8m (2020: US$0.9m)\n \n o Net increase of US$28.1m in the fair value of portfolio companies (2020: US$8.7m)\n \n · Profit after tax: $26.4m (2020: $7.7m)\n \n · Share placings totalling US$9.4m completed during the period (2020: $2.6m)\n \n Investment Portfolio\n \n \n Salarius® Limited (\"Salarius\") (97.2% ownership)\n \n \n www.salarius.co\n \n Salarius Ltd manufactures Microsalt®, a new, patented, all natural, non-GMO, Kosher, low-sodium salt that tastes great and has approximately half of the sodium of regular table salt.\n \n \n Investment Rationale:\n \n The snack food industry is focused on developing and providing better-for-you products that both taste good and help reduce sodium intake. The reason for this is that ex...