4th Dec 2019 18:08
(Alliance News) - Albion Venture Capital Trust PLC on Wednesday reported a first half net asset value fall during a period where it made GBP2.1 million worth of investments.
In the six months to September 30, net asset value per share fell by 1.0% to 77.96 pence each, from 79.00p at the end of March.
Shares in the company ended in the red on Wednesday, closing 1.1% lower at 71.00p each.
The company held its interim dividend at 2.5p, and eyes making a further payout of the same value. This would give the firm a full-year payout of 5.00p, in line with last year.
Post-period end the trust added a further GBP1.3 million worth of investments.
New investments include Elliptic Enterprises Ltd, which provides anti-money laundering services to digital asset institutions, and Symetrica Ltd, which manufacturers radiation detection devices.
During the period, the trust exited its investment in Stanwell Hotel, located near Heathrow Airport. The exit generated GBP3.4 million in proceeds.
By Eric Cunha; [email protected]
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