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Portfolio Update

11th Apr 2023 13:16

RNS Number : 8471V
Schiehallion Fund Limited (The)
11 April 2023
 

The Schiehallion Fund Limited

 (The "Company")

 

Legal Entity Identifier: 213800NQOLJA1JCWXQ56

 

Portfolio Update

 

In view of the announcement of the acquisition of Scopely, Inc (Scopely) by Savvy Games Group (Savvy), and in conjunction with the release today by the Company of an unaudited interim Net Asset Value (NAV), the Company is providing the following Portfolio Update.

 

Scopely represented approximately 10.2% of the Ordinary Share portfolio as at 28 February 2023. The acquisition of Scopely by Savvy, which remains conditional on regulatory approval, will result in a realised gain being crystallised by the Company once the transaction has completed, with the agreed acquisition value being above the valuations at which the Company has previously invested.

That said, the NAV of the Ordinary Shares as at 6 April 2023 released today represents a reduction of 3.36% since the previously announced NAV of the Ordinary Shares and predominantly reflects a downward valuation adjustment for Scopely as well as other downward valuation adjustments made, as a result of the Company's regular rolling valuation process, to certain other portfolio assets.

 

Baillie Gifford & Co Limited

11 April 2023

 

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