Albion Crown Vct Plc · LSE:CRWC
Albion Crown Vct — Albion Technology & General VCT — Shareholder Meeting (June 2024)
20 slides from Albion Crown Vct's shareholder meeting presentation, June 2024
Slide 1: Albion Technology & General VCT PLC AGM June 2024
Albion Technology & General 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 71.99p 199.33p 3.83% 3.72p Net asset value (NAV) Total shareholder value Shareholder return for Tax-free dividends per share as at as at 31 December 2023 the year ended 31 per share paid 31 December 2023 December 2023 during the year 3
Slide 4: Background
BACKGROUND • 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 • A small return for the year due to challenging market conditions • Positive Q1 perfo
Slide 5: Performance Data
PERFORMANCE DATA 43.8% 29.6% 20.2% _ . SS 1 year return 3 year return 5 year return 10 year return (average 3.8% p.a.) (average 6.7% p.a.) (average 5.9% p.a.) (average 4.4% p.a.)
Slide 6: Highlights in the Year
HIGHLIGHTS IN THE YEAR 2022 2023 Notes 2022 fundraising included allotments under two Fundraising £28.5m £10.1m offers. 2023 included sale of Ophelos and a part disposal Exits £11.5m £5.9m of Quantexa £2.5m in 5 new companies and £4.8m into the Investment rate £16.7m £7.3m existing portfolio Share b
Slide 7: Key Value Drivers in the Year
KEY VALUE DRIVERS IN THE YEAR 2023 Notes Quantexa £11.4m Series E fundraising – UK’s first “unicorn” of 2023 Radnor House School £0.7m Increased pupil numbers Black Swan (£2.2m) Challenging trading Chonais River Hydro (£0.9m) Re-evaluation of its generation potential Other – write ups £3.2m Includin
Slide 8: Portfolio Analysis
PORTFOLIO ANALYSIS Sector breakdown Portfolio of c.60 companies employing over 4,700 people predominantly in the UK 8 Comparatives for 31 December 2022 are in brackets.
Slide 9: Portfolio Analysis
PORTFOLIO ANALYSIS Stage of investment No. of employees 9 Comparatives for 31 December 2022 are in brackets.
Slide 10: Top 3 Account for 28.9% of the NAV at Dec 2023
TOP 3 ACCOUNT FOR 28.9% 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 2,678 24,918 >50x 30 to its financial services and government c.600 customers detect financi
Slide 11: Quantexa
QUANTEXA • Established in 2016, Quantexa has grown from 30 people in the UK to c.600 across 14 offices globally • Largest holding, representing 20% of NAV (31/12/2023) • Part sale generated £3.4m, equating to 10.3x return on weighted average cost • Received £100m investment at a valuation of c.£1.4b
Slide 12: New Investments
NEW INVESTMENTS £1.0m £0.6m £0.5m £0.2m £0.2m Distributed Energy AI powered chatbots Quantum computer Software for non-bank Supply chain emissions Resources modelling and virtual assistants software lenders modelling software software 12
Slide 13: Follow-ons
FOLLOW-ONS £1.4m £0.8m £0.6m £0.6m A cloud platform and Provider of cyber Provider of a reformulation infrastructure that enables A next generation API security software of medicines for children corporates to issue digital management platform incentives and payouts 13
Slide 14: Investment Strategy
INVESTMENT STRATEGY Seed to Series B Backing Focus on Target (early stage long-term B2B software and to growth) trends healthcare 14
Slide 15: 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 16: 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 17: 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 18: Electronic Voting
ELECTRONIC VOTING • Online voting is quick and simple • Notification emails are sent before the AGM with full instructions • Two options: • Before the AGM via notification email or visit www.investorcentre.co.uk/eproxy • During the AGM via the Lumi platform • Any questions, contact us
Slide 19: Q1 2024 Results & Events
Q1 2024 RESULTS & EVENTS • NAV at 31 March 2024 of 72.44p • Increase of 0.6% to the 31 December 2023 NAV Shareholder seminar details • Virtual AGMs 20 November 2024 • Physical annual shareholder seminar No.11 Cavendish Square, • First dividend of 1.80p per share payable on 28 June London W1G 0AN 202
Slide 20: 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 Albion Technology & General VCT PLC. Any person considering an investment should seek advice from an auth
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