Albion Enterprise VCT PLC: Interim Management Report

2026-03-19 09:01:14

(MENAFN- GlobeNewsWire - Nasdaq) Albion Enterprise VCT PLC
Interim Management Statement
LEI Code: 213800OVSRDHRJBMO720

Introduction
I present Albion Enterprise VCT PLC (the“Company”)'s interim management statement for the period from 1 October 2025 to 31 December 2025.

Performance and dividends
The Company's unaudited net asset value (“NAV”) on 31 December 2025 was £290.1 million or 115.23 pence per share (excluding treasury shares), a decrease of 0.99 pence per share (0.9%) since 31 March 2025.

After accounting for the second dividend for the year ending 31 March 2026 of 2.82 pence per share paid on 27 February 2026 to shareholders on the register on 6 February 2026, the NAV is 112.41 pence per share.

Fundraising

On 11 February 2026 the Company announced the closure of the Albion VCTs Top Up Offers 2025/26, having raised £30 million, before issue costs. Under the terms of the Albion VCTs Prospectus Top Up Offers 2025/26, the following new ordinary shares, of nominal value 1 penny each, were allotted during the year:

Date of allotment	Number of shares allotted	Issue price (pence per share)	Net consideration received (£'000)
19 December 2025	15,320,428	115.03p – 116.21p	17,270

Portfolio
The following investments have been made during the period:

New investments	£'000	Activity
Bound Rates	2,379	FX risk management platform.
Clstr (T/A Kinfolk)	1,537	AI agent operating system for workforce operations.
Outerlimit Group	1,424	Runtime security and policy enforcement platform for agentic AI.
Total new investments	5,340

Further investments	£'000	Activity
OutThink	168	SaaS platform to measure and manage human risk for enterprises.
Seldon Technologies	35	Software company that enables enterprises to deploy Machine Learning models in production.
Total further investments	203

Top ten holdings (as at 31 December 2025)

Investment	Carrying value £000s	% of net asset value	Activity
Quantexa	54,065	18.6%	Decision intelligence platform to help solve challenges across customer intelligence, KYC, financial crime, risk management, fraud, and security.
Oviva	24,098	8.3%	A technology enabled service business in medical nutritional therapy (“MNT”).
Proveca	14,886	5.1%	Reformulation of medicines for children.
Gravitee TopCo (T/A Gravitee)	10,230	3.5%	API management platform.
Convertr Media	8,967	3.1%	A customer acquisition platform which tracks advertising leads all the way to sale.
Tem-Energy	7,653	2.6%	Energy trading platform.
Healios	4,370	1.5%	Provider of an online platform delivering family centric psychological care primarily to children and adolescents.
Treefera	4,194	1.4%	Data platform for forestry and nature-based assets.
TransFICC	4,173	1.4%	A provider of a connectivity solution, connecting financial institutions with trading venues via a single API.
Runa Network	4,154	1.4%	Cloud platform and infrastructure that enables corporates to issue digital incentives and payouts.

A full breakdown of the Company's portfolio can be found on the Company's webpage on the Manager's website at l/vct-funds/AAEV.

Share buy-backs
During the period from 1 October 2025 to 31 December 2025, the Company purchased 1,633,670 shares for £1,758,000 (including stamp duty) at an average price of 107.08 pence per share. All of the shares were cancelled.

It remains the Board's policy to buy back shares in the market, subject to the overall constraint that such purchases are in the Company's interest, including the maintenance of sufficient resources for investment in existing and new portfolio companies and the continued payment of dividends to shareholders.

It is the Board's intention for buy-backs to be at around a 5% discount to net asset value, so far as market conditions and liquidity permit.

Material events and transactions after the period end
The Company paid a dividend of 2.82 pence per Ordinary share on 27 February 2026 to shareholders on the register on 6 February 2026. The Company issued the following Ordinary shares of nominal value 1 penny per share under the dividend reinvestment scheme:

Date of allotment	Number of shares allotted	Issue price (pence per share)	Net invested £'000
27 February 2026	962,981	109.90	1,036

As part of Oviva's recent Series D funding round, which completed in January 2026, the Company made a partial disposal of its holding. The Company received proceeds of £5.1 million from the sale of c.20% of its stake in Oviva representing 5.1x the original weighted average cost of those shares.

There have been no other material events or transactions after the period end to the date of this announcement.

Further information
Further information regarding historic and current financial performance and other useful shareholder information can be found on the Company's webpage on the Manager's website at l/vct-funds/AAEV.

Ben Larkin, Chairman
19 March 2026

For further information please contact:
Vikash Hansrani
Operations Partner

Albion Capital Group LLP - Tel: 020 7601 1850

MENAFN19032026004107003653ID1110883248

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.