Seneca Growth Capital VCT plc (SVCT) · LSE:SVCT
Seneca Growth Capital VCT plc (SVCT) — Seneca Growth Capital VCT — Investor Presentation (September 2021)
26 slides from Seneca Growth Capital VCT plc (SVCT)'s investor presentation, September 2021
Slide 1: Investor Update Presentation September 2021
Investor Update Presentation September 2021
Slide 2: Important Notice
Important Notice The following presentation, including a hard copy of these slides/the talks given by the presenters, the information furnishing the Presentation, the Company does not undertake or agree to any obligation to provide the recipient communicated during any delivery of the presentation a
Slide 3: Welcome – The Board and Today's Speakers
Welcome – The Board and Today’s Speakers Seneca Growth Capital VCT Plc - The Board Investment Manager John Hustler Richard Manley Matt Currie Director and Chairman Director Investment Director at and CEO of Seneca Seneca Partners Limited Partners Limited Richard Roth Alex Clarkson Director Director
Slide 4: Housekeeping
Housekeeping Audio Q&A Recording Troubleshoot During this presentation Questions are This presentation If your video stream attendees will be in listen however encouraged is being recorded and freezes during the only mode and we have a Q&A will be available via presentation, please slot at the end t
Slide 5: Agenda
Agenda 1 Company Overview 5 Company Outlook 2 Seneca Partners Overview 6 Open Offer for B Shares 3 B Share Pool 7 Q&A 4 Ordinary Share Pool
Slide 6: Company Overview
Company Overview Background Launched the Ordinary share class in 2001 Launched the B Share class in 2018 Company name changed from Hygea vct plc to Seneca Growth Capital VCT Plc Ordinary Seneca Partners Limited B Share appointed Investment Share Pool Manager Pool Strategy remains to continue Continu
Slide 7: Who is the VCT's Investment Manager? – Seneca Partners
Who is the VCT’s Investment Manager? – Seneca Partners Founded in 2010 Award-winning Tax Efficient £30m+ of IHT £20m+ Property Specialists funds under Development management* Loan Book* £30m+ £20m+ £100m+ £1bn+ £100m+ Headquartered in Launched multiple £100m+ of SME advisory £100m+ of property the N
Slide 8: Seneca Partners' Growth Capital Credentials
Seneca Partners’ Growth Capital Credentials £100 million+ 50+ 100+ 23 Growth Capital Exits of EIS and VCT SME companies funding rounds investment funds £35m+ of realisations Average 1.7x EIS and 20+ Partner network of Experience and VCT growth capital AIM quoted sector specialists capabilities to un
Slide 9: The B Share Pool
The B Share Pool
Slide 10: B Share Pool Overview
B Share Pool Overview Exit Track Record: £12m 5 full and partial exits achieved since 2018 £12m raised to date Current portfolio of 14 investee companies – 3 full and partial exits already achieved in 2021 £1.7m total proceeds realised 16 investments made to date 50% AIM quoted, 50% unquoted 2.0x we
Slide 11: B Share Net Asset Value: Recent History
B Share Net Asset Value: Recent History NAV at 110.0p 30/06/21 1.9p 1.4p 104.6p NAV at NAV at 1.5p 0.5p 100.0p 31/12/19 31/12/20 17.1p 93.1p 4.2p 1.9p 91.8p NAV at 3.0p 0.4p 90.0p 5.2p 30/03/20 79.8p 13.1p 7.9p 80.0p 0.7p 0.5p 48.0p 70.0p NAV per Share in pence 50.8p 47.9p 60.0p 44.0p 50.0p 22.4p 40
Slide 12: B Share Dividend Track Record
B Share Dividend Track Record Year Target Dividends Paid Cumulative Dividends Paid Dividends on Target 2019 n/a 3p 3p 2020 3p+ 3p 6p 2021 3p+ 1.5p (YTD) 7.5p B Share Target Dividend • At least 3p per annum in relation to the Company’s B Shares with an ambition to increase this to c.5% per annum of t
Slide 13: B Share Asset Exposures as at June 2021
B Share Asset Exposures as at 30 June 2021 Manufacturing – Medical Devices Manufacturing - Pharma 17% 21% 20% Underlying NAV 46% Sector 25% HR & Recruitment 3% £13m 6% Exposure Tech Platform 33% 8% 21% Bio Tech Online Retail Cash Aim quoted investee companies Unquoted investee companies Saas
Slide 14: The B Share Pool Investee Company Profiles
The B Share Pool Investee Company Profiles
Slide 15: Vizibl: Revolutionising the way people and enterprises work together
Revolutionising the way people and enterprises work together empowering them to build truly valuable relationships Investment Date: March 2019 | Total Investment Amount: £500k What they do Vizibl provides a project management platform for teams and individuals managing suppliers and procurement with
Slide 16: Arecor: Transforming patient care through enhanced therapeutic products
Transforming patient care by bringing innovative medicines to market through the enhancement of existing therapeutic products Investment Date: May 2021 | Total Investment Amount: £510k What they do Arecor use their innovative proprietary formulation technology platform Arestat™ to enhance product fo
Slide 17: B Share Pool Current Investment Pipeline
B Share Pool Current Investment Pipeline 15+ £30m+ 15+ investment £30m+ of funding Mix of AIM and An element of off opportunities requirements unquoted companies market deals currently in DD Diverse spread of Large proportion of Pipeline significantly sector focus covering deal opportunities weighte
Slide 18: The Ordinary Share Pool
The Ordinary Share Pool
Slide 19: Ordinary Share Pool Overview
Ordinary Share Pool Overview Cash 9% Unquoted As at 30 June 2021 2 AIM quoted and 5 unquoted investee Ordinary Share companies AIM quoted (Scancell) Gross Asset 9% 67% NAV of £3.2m (including £0.3m of cash) Exposure As at 30 June 2021 NAV per Ordinary Share of 39.0p – a 30% increase since 31 Dec 20
Slide 20: Ordinary Share Pool Overview
Ordinary Share Pool Overview Two key themes since 1 January 2021 1 Further realisations of Scancell continue to crystallise 31 Dec 2019 31 Dec 2020 30 June 2021 profits and fund dividends. • Scancell – Partial exit at 2.8x return on cost (£0.3m v’s Scancell Share 7.0p 13.5p 21.5p £0.1m cost) Price •
Slide 21: Seneca Growth Capital VCT Company Outlook & B Share Offer
Seneca Growth Capital VCT Company Outlook & B Share Offer
Slide 22: Company Outlook
Company Outlook B Share Outlook Ordinary Share Outlook Our aims over the next 12 months are as follows: Seek to continue to realise Ordinary Share pool Continue to increase funds raised via current offer and investments as suitable opportunities arise under the 2021 offer expected to be launched soo
Slide 23: Offer for B Shares
Offer for B Shares Why consider an investment in the current B share offer? Driving stable NAV Track record of More than 45% of B Established exit track Diversified growth consistent dividends Share NAV* record investment portfolio and existing represented by cash distributable reserves *as at 30 Ju
Slide 24: Offer for B Shares Remains Open
Offer for B Shares Remains Open Key Dates 2021/22 Tax Year Close date 24 September 2021 Initial fee discounts available: Please contact Siobhan Pycroft at Siobhan.Pycroft@senecapartners.co.uk for further details.
Slide 25: Q&A
Q&A Questions can be submitted to enquiries@senecavct.co.uk
Slide 26: Thank you for joining us
Investor Update Presentation September 2021 Thank you for joining us Any enquiries regarding the Offer please contact: 01942 295 981 or email Siobhan.Pycroft@senecapartners.co.uk
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