(Alliance News) - Literacy Capital PLC on Monday said it has completed the sale and partial reinvestment of its stake in Velociti Solutions Ltd at a 52% premium to its most recent valuation, and intends to return no less than GBP6 million to shareholders before year-end. Read More
Literacy Capital PLC - London-based investment trust that makes long-term investments in private UK businesses and donates to literacy and education charities - Increases the limit of its revolving credit facility with OakNorth Bank PLC to GBP50 million from GBP40 million. The existing rates of interest and the term to September 2027 are unchanged. The increase is not expected to increase costs for Literacy, it says. Minimum net asset value increases to GBP225 million from GBP200 million. Read More
(Alliance News) - Literacy Capital PLC on Wednesday said it has completed an investment into Welsh meat producer Langford's. Read More
(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Thursday and Friday and not separately reported by Alliance News: Read More
Literacy Capital PLC - London-based investment company focused on UK businesses - Makes a significant minority investment in amplify5, a provider of offshoring to Cape Town, South Africa. Literacy Capital says the investment will fund further growth of the company. No financial details of the amplify5 investment have been provided. Read More
(Alliance News) - Literacy Capital PLC on Monday said its net asset value for the third quarter of 2024 has fallen, due to a reduction in the carrying value of two assets. Read More
(Alliance News) - Literacy Capital PLC on Monday announced it has refinanced and extended a revolving credit facility to provide the business with additional capital and flexibility. Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
Literacy Capital PLC - London-based investment trust - Makes a significant minority investment into Campfire, a leading digital marketing agency based in Manchester. The investment will support Campfire's continued growth, both organically and via strategic acquisitions, with a focus on their technology-centric proposition. Read More
Literacy Capital PLC - London-based investment trust - Reports net asset value at June 30 up 2.4% at 522.60 pence per share from 510.40 in quarter prior. Says RCI Group continued to be main driver of returns and Cubo Work and Wifinity traded "encouragingly". Notes Techpoint as "most significant detractor from NAV". Investee has made several recent changes to management. Literacy invested total GBP5.0 million in second quarter. Cash inflow amounted to GBP5.6 million in the quarter. Read More
Literacy Capital PLC - London-headquartered trust focused on long-term investments in private UK businesses - Net asset value climbs 2.0% to 510.4 pence per share from 500.4p at December 31, and is 9.2% higher than 467.3p a year prior. NAV total return is 2.0%, improved from 1.6% in the fourth quarter of 2023 but down from a return of 11% in the first quarter of 2023. The company noted that its largest holding RCI, developed positively "and was the strongest contributor again in Q1." Richard Pindar, chief executive officer of Literacy's investment manager, says: "Cash inflows were again substantial, as the portfolio was rebalanced with capital recycled from more mature assets into new investment opportunities or used to pay down the fund's drawings under its revolving credit facility. We expect cash inflows to remain strong in the remainder of 2024, whilst we are also seeing many attractive opportunities to redeploy capital into newer investments." Read More
Literacy Capital PLC - London-headquartered trust focused on long-term investments in private UK businesses - Independent Director Christopher Sellers buys 17,500 shares at GBP5.01 each, worth GBP87,675, in London on Monday. Read More
Literacy Capital PLC - London-headquartered trust focused on long-term investments in private UK businesses - Independent Non-Executive Director Christopher Sellers buys 32,500 shares at GBP4.90 each for a total GBP159,250 on Thursday and Friday last week. Read More
Literacy Capital PLC - London-headquartered trust focused on long-term investments in private UK businesses - Completes the refinancing of one of its largest - but undisclosed - portfolio companies with new lenders. The new debt facility releases cash to shareholders, including Literacy, with the fund's share amounting to GBP20 million. Literacy intends to use the cash proceeds to repay most of the amount drawn under its revolving credit facility, before recycling proceeds into new investments. Literacy expects to receive "meaningful" cash inflows over the remainder of 2024, given the level of interest in its portfolio companies. Says this transaction will have an immaterial immediate impact on net asset value. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More