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Chrysalis Investments Ltd on Tuesday announced a quarterly dip in net asset value per share but highlighted that NAV rose annually, while highlighting that it will make no new investments before its annual general meeting in March. The London-based investor in UK and European firms Chrysalis said NAV per share fell 1.1% to 171.65 pence as at September 30 from 173.57p at June 30. However, NAV was up 22% from 141.26p at September 30, 2024. Chrysalis cited Starling as the key driver of NAV per share growth over the year, while noting that the bank rolled out banking artificial intelligence tools, which offered ‘a point of significant differentiation over other incumbents.’ Chrysalis added: ‘Strong interest remains in Starling’s Engine proposition, and its pipeline is robust, noting [Starling Chief Financial Officer’s] Declan Ferguson’s comment earlier in the year that he saw a ’credible path to £100 million of recurring revenue within two years‘. Starling represents 46.5% of Chrysalis’s portfolio. Separately, Chrysalis said that after engagement with shareholders representing 58% of the company’s voting rights, Rothschild & Co has presented its findings regarding a capital allocation update statement to the board. Chrysalis said: ’There was widespread agreement that the company’s portfolio includes attractive investments with significant inherent value. A significant proportion of the shareholders consulted felt that Chrysalis should continue to be structured and managed on a basis which affords appropriate scope for these assets to achieve their full potential over time. However, it is clear that a proportion of shareholders consulted are seeking an orderly exit from their investment in a shorter timeframe.‘ The company added that no new investments will be made before the annual general meeting in March 2026. Further, the current share buyback programme will continue to complete the return of up to £100 million. After that, it will continue the share buyback programme to return at least 25% of profit from realised investments Chrysalis shares fell 1.9% to 118.30 pence each on Tuesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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