Albion Crown Vct Plc · LSE:CRWC
Albion Crown Vct — Kings Arms Yard VCT — Shareholder Meeting (June 2024)
23 slides from Albion Crown Vct's shareholder meeting presentation, June 2024
Slide 1: Kings Arms Yard VCT PLC AGM June 2024
Kings Arms Yard VCT PLC AGM June 2024 Results for the year to 31 December 2023
Slide 2: Agenda
AGENDA Financial summary Background Performance data Highlights in the year Investment portfolio Realisations Investment strategy ESG & responsible investing Prospects, Q1 results and shareholder events 2
Slide 3: Financial Summary to Dec 2023
FINANCIAL SUMMARY TO DEC 2023 0.42p 2.2% 1.05p 20.37p Basic and diluted return Shareholder return for the Total tax free dividends per Net asset value per share as per share for the year ended year ended share paid in the year to at 31 December 2023 31 December 2023 31 December 2023 31 December 2023
Slide 4: Background
BACKGROUND • Name to change to “Albion KAY VCT PLC” during June 2024 • Heightened global macro and geo-political uncertainties • Falling inflation but high interest rates remain • Portfolio focus on mission critical products and services is designed to provide resilience • An encouraging return for
Slide 5: Performance Data
PERFORMANCE DATA 64.2% 19.3% 24.5% 1 year return 3 year return 5 year return 10 year return (average 6.4% p.a.) (average 4.9% p.a.) (average 6.4% p.a.)
Slide 6: Highlights in the Year
HIGHLIGHTS IN THE YEAR 2022 2023 Notes 2022 fundraising included allotments under two Fundraising £12.9m £7.1m offers: 2021/22 & 2022/23 Top Up Offers Exits £8.7m £2.8m Including Ophelos, achieving a 2.1x return on cost £2.1m in 5 new companies and £4.4m into existing Investment rate £16.7m £6.5m po
Slide 7: Key Value Drivers in the Year
KEY VALUE DRIVERS IN THE YEAR 2023 Notes Quantexa £6.1m Successful externally led Series E fundraising Egress £1.1m Strong trading - Sale agreed after year end Black Swan (£1.1m) Impacted by macroeconomic environment Threadneedle Software Holdings Impacted by macroeconomic environment (£0.6m) (T/A S
Slide 8: Portfolio Analysis
PORTFOLIO ANALYSIS Sector breakdown Portfolio of 64 companies employing over 4,600 people 8 Comparatives for 31 December 2022 are in brackets.
Slide 9: Portfolio Analysis
PORTFOLIO ANALYSIS Stage of investment No. of employees 9 * Renewable energy investments have no employees. Comparatives for 31 December 2022 are in brackets.
Slide 10: Top 3 Account for 32.7% of the NAV at Dec 2023
TOP 3 ACCOUNT FOR 32.7% OF THE NAV AT DEC 2023 Investment Cost Book value Revenue Employee date £000 £000 growth growth Uses the latest advances in big data analytics and artificial intelligence to help 2017 1,329 15,274 >50x 30 to c.600 its financial services and government customers detect financi
Slide 11: New Investments
NEW INVESTMENTS £0.8m £0.5m £0.4m £0.2m £0.2m Distributed Energy Supply chain AI powered chatbots Quantum computer Software for non- Resources emissions modelling and virtual assistants software bank lenders modelling software software 11
Slide 12: New Investment: OpenDialog AI
NEW INVESTMENT: OPENDIALOG AI 1 • OpenDialog allows organisations to create and deploy AI powered chatbots and virtual assistants in a OpenDialog AI is a no-code environment provider of AI powered chatbots and virtual • Repeat founders (Thoughtonomy assistants acquired by Blue Prism Group PLC) • £5.
Slide 13: New Investment: Gridcog International
NEW INVESTMENT: GRIDCOG INTERNATIONAL 12 • Gridcog’s DERs modelling platform enables customers to analyse, design, invest in and track their clean energy Gridcog International projects is a provider of modelling software • Repeat founders (Greensense and for Distributed Energy Limejump – acquired by
Slide 14: Follow-ons
FOLLOW-ONS £1.3m £0.7m £0.6m £0.4m A cloud platform and Provider of a reformulation A next generation API Provider of cyber infrastructure that enables of medicines for children management platform security software corporates to issue digital incentives and payouts 14
Slide 15: Realisations: Ophelos
1 REALISATIONS: OPHELOS • Using machine learning to create a new standard for how organisations manage customer debt - ethically and efficiently • Acquired by Intrum AB (Swedish listed) £3.2m 2.1x £1.5m Invested by Albion VCTs Cash on cash multiple KAY VCT proceeds 15
Slide 16: Investment Strategy
INVESTMENT STRATEGY Seed to Series B Backing Focus on Target (early stage long-term B2B software and to growth) trends healthcare 16
Slide 17: ESG and Responsible Investing
ESG AND RESPONSIBLE INVESTING Our commitment • Devise an appropriate risk-return profile for our investments • Deliver value to our investors • Develop sustainable long-term strategies for our portfolio companies Our process • Integrates ESG principles at all stages of investment • Measures ESG perf
Slide 18: ESG at Albion
ESG AT ALBION ENVIRONMENTAL SOCIAL GOVERNANCE • Net zero road mapping plan • Fair HQ score improvement • ESG principles integrated (from 6.1 to 6.6 out of 10) across the full investment • Carbon footprint over the year cycle measuring and offsetting • Social outreach group • Completion of 2023 ESG B
Slide 19: Board Changes
BOARD CHANGES • Thomas Chambers retires as a director of the company • Appointed in October 2011 • During Thomas’ tenure, he served as Chairman of the Audit and Risk Committee
Slide 20: Prospects
PROSPECTS • Ongoing uncertainties but balanced by strong individual portfolio company growth • Well-balanced portfolio across target sectors and stage of maturity • Focus on mission critical products and services, designed to provide resilience • Limited exposure to discretionary consumer facing sec
Slide 21: Electronic Voting
ELECTRONIC VOTING • Online voting is quick and simple • Notification emails are sent before the AGM with full instructions • Two options: 1. Before the AGM via notification email or visit www.investorcentre.co.uk/eproxy 2. During the AGM via the Lumi platform • Any questions, contact us
Slide 22: Q1 Results & Events
Q1 RESULTS & EVENTS • NAV at 31 March 2024 of 20.91p • Increase of 2.65% to the 31 December 2023 NAV • Sale of Egress Software Technologies agreed, Shareholder seminar details expected to close in the coming months subject to customary closing conditions and regulatory approvals 20 November 2024 No.
Slide 23: Thank you
Thank you This presentation is issued by Albion Capital Group LLP for information purposes only and is not to be regarded as an offer to buy or sell, or the solicitation to buy or sell shares in Kings Arms Yard VCT PLC. Any person considering an investment should seek advice from an authorised finan
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