Albion Crown VCT PLC · LSE:CRWC
Albion Crown VCT — Kings Arms Yard VCT — Shareholder Meeting (June 2022)
24 slides from Albion Crown VCT's shareholder meeting presentation, June 2022
Slide 1: Kings Arms Yard VCT PLC Results for the year to December 2021
Kings Arms Yard VCT PLC Results for the year to 31 December 2021 AGM June 2022 Kings Arms Yard VCT PLC – AGM June 2022
Slide 2: Agenda
Agenda • Financial highlights • Background • Track record • Highlights in the year • Investment portfolio • Realisations • Investment strategy • ESG & responsible investing • Prospects, Q1 results and shareholder events 2 Kings Arms Yard VCT PLC – AGM June 2022
Slide 3: Financial highlights to Dec 2021
Financial highlights to Dec 2021 23.05p Net asset value (NAV) per share as at 31 Dec 2021 3.55p Increase in total shareholder value for the year ended 31 Dec 2021 16.3% Movement in shareholder value in the year 0.58p Tax-free dividends per share paid during the year 5.5% Tax-free dividend yield on o
Slide 4: Background
Background • Continued impact of Covid-19 during • Strong return across the portfolio despite the year headwinds, led by investments in healthcare and software • Further uncertainty due to the invasion of Ukraine, resulting in increased • Portfolio focus on mission critical products geopolitical ris
Slide 5: Track record
Track record Kings Arms Yard VCT Performance Data – Dec 2021 16.3% 12 month performance 39.7% 5 year performance 109.0% 10 year performance 0% 20% 40% 60% 80% 100% 120% Kings Arms Yard VCT PLC – AGM June 2022 5
Slide 6: Highlights in the year
Highlights in the year 2020 2021 Notes 2020/21 fundraise & 2021/22 fundraise Fundraising £15.0m £8.0m Including Cares homes, Antenova, Exits £1.8m £26.8m OmPrompt, Perpetuum £3.4m into 5 new companies and £3.2m into Investment rate £4.0m £6.6m existing portfolio Share buybacks £1.1m £1.7m Dividends
Slide 7: Key value drivers in the year
Key value drivers in the year 2021 Notes Quantexa Limited £4.8m Valuation uplift - external fundraising Antenova Limited £2.8m Sold during the year Proveca Limited £1.7m Valuation uplift - external fundraising Other – write ups £11.9m Across 21 companies (excluding the top 3 above) Other – write dow
Slide 8: Portfolio analysis
Portfolio analysis Sector breakdown Portfolio of 59 companies employing over 3,300 people predominantly in the UK 8 Comparatives for 31 December 2020 are in brackets. KingsArms Kings ArmsYard YardVCT VCTPLC PLC––AGM AGMJune June2022 2022
Slide 9: Portfolio analysis
Portfolio analysis Stage of investment No. of employees * Renewable energy investments have no employees 9 Comparatives for 31 December 2020 are in brackets. Kings Arms Yard VCT PLC – AGM June 2022
Slide 10: The top investments account for 25.0% of the NAV at Dec 2021
The top 3 investments account for 25.0% of the NAV at 31 Dec 2021 Investment Cost Book Revenue Employee date £000 value growth growth £000 European specialist pharmaceutical company 2012 1,829 7,773 ~25% LTM 4 to 50 focussed on children’s medicines Uses the latest advances in big data analytics and
Slide 11: New investments
New investments Threadneedle Gravitee TopCo NuvoAir Holdings Brytlyt uses Accelex provides Software Holdings (trading as is a patented software data extraction and (trading as Solidatus) Gravitee.io) is an provider of digital and AI, to derive analytics is a provider of data application therapeutics
Slide 12: New investment: Gravitee
New investment: Gravitee • APIs are the railways of the digital world with every company now a software company and likely to need an API management solution in the future Gravitee TopCo (trading as Gravitee.io) is an application programming interface (API) • Gravitee.io is the most open source and
Slide 13: New investment: NuvoAir
New investment: NuvoAir • NuvoAir had a record 500% growth in Q1 2021 in the wake of Covid • A trend set to continue as more hospitals and patients further A provider of digital therapeutics and embrace technology decentralised clinical trials for respiratory conditions • Albion VCTs invested £3.6m
Slide 14: £3.2m follow-ons
£3.2m follow-ons Digital health business that Leading digital health A SaaS company that uses provides diet and lifestyle platform that measures social data to accurately coaching to people who deal patient’s health, outcomes predict consumer behaviour with diet-related health and experience challen
Slide 15: Realisations: Care homes
Realisations: Care homes Active Lives Care Limited, Ryefield Court Care Limited and Shinfield Lodge Care Limited Invested by Albion VCTs £28.2m 2.5x Cash on cash multiple £14.7m KAY VCT proceeds Kings Arms Yard VCT PLC – AGM June 2022 15
Slide 16: Realisations: Antenova Limited
Realisations: Antenova Limited Sold to Acal Electronics Holdings Limited, (a subsidiary of a discoverIE Group PLC) A leading provider of high performance Invested by KAY VCT £1.7m antennas and RF solutions for wireless M2M, IoT and consumer electronics 3.1x Cash on cash multiple £5.3m KAY VCT procee
Slide 17: Realisations: OmPrompt Holdings Limited
Realisations: OmPrompt Holdings Limited Sold to Elemica, a US-based, global digital supply network A leader in supply chain digitisation and £3.7m Invested by Albion VCTs automation, helping companies with complex supply chains bridge gaps by 2.3x Cash on cash multiple eliminating the need for human
Slide 18: Investment strategy
Investment strategy From Seed Backing Focus on • Software to Series B Long-term Business-to-Business • Healthcare (early stage trends (B2B) to growth) • Other (automotive technologies, sensors) Kings Arms Yard VCT PLC – AGM June 2022 18
Slide 19: ESG & responsible investing
ESG & 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 the sustai
Slide 20: ESG in investment process
ESG in investment process 1. 2. Due 3. 4. 5. Screening diligence Monitoring Follow-ons Exits • Check company • ESG Due Diligence • Leverage portfolio • Reassess ESG risks and • Support the company activity with exclusion completed pre- company board to opportunities at each in demonstrating to list
Slide 21: ESG within our business
ESG within our business • Monitoring carbon footprint • Future VC, a paid internship offered • Updated ESG approach as part of our investment • Net zero carbon emissions • Fair HQ, working with expert process strategy designed consultancy to establish diverse and inclusive practices • Regular ESG up
Slide 22: Prospects
Prospects • Ongoing uncertainty with potential challenging times ahead • Well-balanced portfolio by sector and stage of maturity • Portfolio focus on mission critical products and services, particularly software and healthcare, designed to provide resilience • Limited exposure to discretionary consu
Slide 23: Q1 results and shareholder events
Q1 results and shareholder events • NAV at 31 March 2022 of 23.77p Shareholder seminar details • An increase of 3.1% for the quarter 23 November 2022 • Proceeds from exits in Q1 2022 of £7.9m Royal College of Surgeons Lincoln's Inn Fields, London • Virtual AGMs To reserve a place, email • Physical a
Slide 24: Thank you
Thank you This presentation is 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 financial advisor. Albion Capital Group
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