Albion Technology & General VCT PLC: Insights from Annual Report
Albion Technology & General VCT PLC Overview
Albion Technology & General VCT PLC announced its Annual Report and Financial Statements for the operational year concluding on December 31, 2024. This document highlights exceptional growth and strategic moves that have positioned the organization favorably in the ever-evolving market landscape.
Key Financial Achievements
The Directors express their satisfaction in revealing the annual performance, showcasing a remarkable surge in total shareholder value. Specifically, there was an increase of 4.73 pence per share, translating to a total gain of 6.57% over the opening net asset value per share. Comparatively, the previous year saw an increase of 2.79 pence per share, reflecting a positive trend in shareholder returns.
Strategic Acquisitions
A significant move involved the acquisition of the assets and liabilities of Albion KAY VCT PLC on December 19, 2024. This acquisition was completed at their fair value, totaling an impressive £110.5 million. Such strategic decisions underline Albion's commitment to expanding its portfolio and enhancing shareholder confidence.
Fund Size Growth
Moreover, the fund's total size reached £251.3 million, showcasing a marked increase from the £127.3 million recorded in 2023. This escalation not only represents robust financial health but also indicates potential opportunities for further investments and growth within the company's operational framework.
Shareholder Returns and Dividends
The net asset value per share was determined to be 73.04 pence, a slight increase from the previous year's figure of 71.99 pence. Furthermore, the company paid out dividends amounting to 3.68 pence per share during the year, with a modest decrease from 3.72 pence per share in 2023. The commitment to returning value to shareholders remains evident through these dividends, which are an essential aspect of Albion's financial strategy.
Stock Buybacks
Additionally, Albion engaged in share purchases worth £3.4 million throughout the year, surpassing the previous year's buyback amount of £2.8 million. These proactive measures not only enhance shareholder value but also demonstrate the company’s confidence in its future performance.
Successful Divestments
The company also recorded a successful divestment, selling Egress, which yielded returns exceeding seven times the original investment. This transaction signifies Albion's capability to leverage its assets effectively, contributing to overall financial stability and growth.
Upcoming Events and Future Plans
The Annual General Meeting is scheduled to be held virtually at noon on June 17, 2025, reflecting the company's adaptation to contemporary trends in corporate governance. The Board has declared a first dividend for the year ending December 31, 2025, amounting to 1.83 pence per ordinary share. This dividend is set to be paid on June 30, 2025, to shareholders who are registered by June 6, 2025.
Accessing the Annual Report
The full Annual Report and Financial Statements can be found attached to this communication. For those interested in further insights, copies are also available on the company’s dedicated webpage.
Important Contact Information
For further inquiries regarding the company or its financial standings, please reach out to Vikash Hansrani, Operations Partner at Albion Capital Group LLP. He can be contacted via telephone at 020 7601 1850.
Frequently Asked Questions
What is the main highlight of Albion Technology & General VCT PLC's report?
The report highlights an increase in total shareholder value by 4.73 pence per share, reflecting a 6.57% overall gain.
When is the Annual General Meeting scheduled?
The Annual General Meeting is set to take place virtually on June 17, 2025.
How has the fund size changed compared to the previous year?
The fund size has grown to £251.3 million, up from £127.3 million in the previous year.
What dividend has been declared for the upcoming fiscal year?
A dividend of 1.83 pence per Ordinary share has been declared for the year ending December 31, 2025.
Who can I contact for more information regarding the company's operations?
You can contact Vikash Hansrani, Operations Partner, at Albion Capital Group LLP at 020 7601 1850.
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