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LONDON - Albion Technology & General VCT PLC (the "Company") has released its Annual Report and Financial Statements for the year ended December 31, 2024, revealing an increase in total shareholder value. The report, announced today, highlights a 6.57% gain on the opening net asset value per share, translating to an increase of 4.73 pence per share, compared to a 2.79 pence per share increase in the previous year.
The Company also reported the acquisition of assets and liabilities from Albion KAY VCT PLC valued at £110.5 million on December 19, 2024. This acquisition contributed to the Company’s fund size reaching £251.3 million, a significant rise from £127.3 million in 2023. The net asset value per share stood at 73.04 pence, a slight uptick from 71.99 pence per share the year before.
Shareholders received dividends totaling 3.68 pence per share over the year, marginally lower than the 3.72 pence per share distributed in 2023. The Company also bought back £3.4 million of its shares during the year, up from £2.8 million in the previous year.
A notable event in the Company’s portfolio was the sale of Egress, which yielded a return over seven times the cost. Details of the sale were not disclosed in the press release.
Looking ahead, the Board declared a first dividend for the year ending December 31, 2025, of 1.83 pence per Ordinary share, scheduled to be paid on June 30, 2025, to shareholders on the register as of June 6, 2025.
The Annual General Meeting (AGM) for shareholders will be conducted virtually at noon on June 17, 2025. The full Annual Report and Financial Statements, as well as the Notice of the AGM, are available on the Company’s webpage on the Manager’s website.
The release of Albion Technology & General VCT PLC’s financial results provides a snapshot of the Company’s performance and strategic transactions over the past year. This information is based on a press release statement from the Company.
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