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Albion Technology & General VCT PLC on Monday said its net asset value per share was down, while it declared a second dividend for 2022.
The London-based technology and healthcare investment company said its net asset value per share on September 30 was at 77.94 pence, down from 1.0% from 78.69p on June 30.
Shares in Albion Technology were down 2.0% to 73.00p in London on Tuesday morning.
It also declared a second dividend of 1.97p, taking the total 2022 dividend so far to 3.99p. This is up 8.4% from 3.68p in the 2021 total dividend. Albion Technology said the total 2022 dividend so far represented a 4.9% yield on opening NAV.
Albion Technology also said the first allotment of shares under a prospectus top up offer is due to take place on Friday. The £8.5 million offer with an over-allotment facility of £7.0 million was launched on October 10.
It added it bought back 713,078 shares for £536,000 at an average price of 74.76 pence per share from July 1 to September 30. All of the shares are to be held in its treasury.
Albion Technology’s board policy remains to buy back shares in the market at around 5% discount to NAV, subject to market conditions and liquidity. This is to maintain sufficient resources for investment in existing and new portfolio companies and for future dividend payments.
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