Kings Arms Yard VCT PLC - invests in ‘higher growth businesses across a variety of sectors’ - Net asset value at June 30 half-year end declines 7.8% to 21.28 pence per share from 23.07p 12 months earlier. NAV per share rises 1.6% from 20.95p at the end of December, however. Paid first dividend of 0.52p per share, down 10% on-year from 0.58p. To pay second dividend of 0.53p, down from 0.58p on-year.
Kings Arms says: ‘Given the economic uncertainty of high inflation and rising interest rates, in addition to the 15 new investments the company made in 2022, the first half of 2023 has been more subdued in terms of new investment activity. During the period the company has invested £900,000 in existing portfolio companies, the largest being £500,000 into Proveca, which specialises in the reformulation of medicines for children, £200,000 into Seldon Technologies, which enables enterprises to deploy Machine Learning models in production, and £200,000 into Symetrica, a designer and manufacturer of radiation detection equipment.
‘Investment activity has started to increase after the period end, with £1.8 million invested into new and follow-on investments since 30 June 2023.’
Current stock price: 20.00p
12-month change: down 4.3%
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