Albion. Tch Vct Share News (AATG)

(Alliance News) - 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 GBP8.5 million offer with an over-allotment facility of GBP7.0 million was launched on October 10.

It added it bought back 713,078 shares for GBP536,000 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.

By Greg Rosenvinge; gregrosenvinge@alliancenews.com

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