19th Nov 2021 19:21
Puma Alpha VCT PLC - venture capital trust - Reports net asset value per share as at August 31 at 120.86 pence, up from 104.35p prior year driven by the upwards revaluation in Le Col and MyKindaFuture. Says concerns a rapid recovery is leading to supply and labour shortages which in turn are sending commodity prices and wages higher. "This is creating pressure for central banks to raise interest rates, with downside implications for equity values," says Chair Egmont Kock.
Puma VCT 12 PLC - venture capital trust - NAV per share on August 31 rises to 97.79p from 84.02p at the same time last year. Looking ahead, says objective remains to achieve an orderly winding up of the Company's assets as soon as possible.
"It was envisaged in the company's prospectus that the board would convene a general meeting of the company following the fifth anniversary at which resolutions would be proposed to place the Company into members' solvent liquidation. The intention remains to return the balance of the capital in an orderly way as soon as possible following the fifth anniversary," says Chair Ray Pierce.
"However, whilst discussions are underway regarding potential exits from portfolio companies, it is likely that, in light of the Covid-19 outbreak, a number of these exit processes will be delayed until there is a greater degree of economic certainty. It is therefore likely that the liquidation process may take place at a later date than originally envisaged," Pierce adds.
Puma VCT 13 PLC - venture capital trust - NAV per share rises to 129.84p on August 31 from 111.59p prior year. Explains this arose from upward revaluations across all holdings - with particular increases from MyKindaCrowd, LeCol and Influencer - as well as the exit of its holding in Pure Cremation. Declares an interim dividend of 6.5p per share, in excess of the annual dividend target, in reflection of the successful exit in Pure Cremation.
"With funds available for deployment, the company has the opportunity to take advantage of the 'post-Covid' environment and invest in businesses which have withstood the challenges presented by the pandemic and are now well-positioned to grow in the new climate. The UK benefits from an active and dynamic sector of small and medium enterprises and, as this company's own portfolio has demonstrated, there can be success stories from the pandemic and its aftermath," says Chair David Buchler.
Puma Alpha VCT current stock price: 105.00p
Puma Alpha VCT year-to-date change: up 5.0%
Puma VCT 12 current stock price: 65.00p
Puma VCT 12 year-to-date change: down 4.8%
Puma VCT 13 current stock price: 110.00p
Puma VCT 13 year-to-date change: up 29%
By Arvind Bhunjun; [email protected]
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