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(Alliance News) - Investor Sure Ventures PLC on Wednesday reported a drop in net asset value, mainly due to falls in the share prices of two investments.
Sure Ventures invests in early-stage software companies operating in augmented reality, virtual reality, artificial intelligence, and the 'Internet of Things'.
Its net asset value as of March's end was 83.03 pence, down 9.9% from 92.12p a year earlier. The firm posted a pretax loss of GBP473,931, from GBP209,918 the year before.
The main reason for the fall in net asset value was a decline in the shares of Inmotion PLC and VR Education PLC, though it did say Inmotion has recovered since March.
"The board is confident of the long-term prospects for the company in pursuit of its investment objective and believes that the robust deal pipeline will result in additional transactions that will complement the company's existing investments," said Sure Ventures.
Shares were untraded on Wednesday, last quoted at 102.50 pence each.
