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Share Price Information for TekCapital (TEK)

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Share Price: 8.15
Bid: 7.80
Ask: 8.50
Change: 0.00 (0.00%)
Spread: 0.70 (8.974%)
Open: 8.15
High: 8.15
Low: 8.15
Prev. Close: 8.15
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Tekcapital Profit Rises Sharply As Portfolio Companies Gain Value

Thu, 22nd Aug 2019 10:08

(Alliance News) - Tekcapital PLC on Thursday posted a substantial profit increase for the first half of its financial year, resulting from a sharp increase in the fair value of its portfolio companies.

Shares in Tekcapital were up 19% at 8.07 pence in London in morning trade.

The intellectual property investor's pretax profit for the six months to May 31 was USD4.4 million, up from only USD105,996 the year before, after a USD4.8 million net increase in the fair value of its portfolio companies pushed revenue up to USD5.4 million from USD1.3 million.

Net asset value per share on May 31 was USD0.38, up from USD0.30 on November 30.

Tekcapital has opted to prioritise investment in its current portfolio companies. In 2018, the company said it was looking into investing "in a new portfolio company in the cannabidiol space". While Tekcapital is still interested in this investment, the firm has decided to wait on additional progress from its exiting portfolio companies before moving forward with the deal.

"We are pleased to report successful half-year performance for the group, which has noted record total revenue, profits and net assets for the period whilst reporting important development milestones for its portfolio companies. We believe our unique approach of acquiring and commercialising university IP innovations, coupled with providing a range of IP services continues to deliver strong returns on invested capital," said Chair Clifford Gross.

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18 Apr 2024 11:44

Tekcapital firm Innovative Eyewear hires Micah Richards as brand rep

(Alliance News) - Tekcapital PLC on Thursday said its portfolio company Innovative Eyewear Inc has appointed pundit and former Premier League footballer Micah Richards as a brand ambassador.

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17 Apr 2024 11:15

Tekcapital's Innovative Eyewear inks deal with US firm

(Sharecast News) - Intellectual property investor Tekcapital announced a fresh development from its portfolio company Innovative Eyewear on Wednesday, as the latter launched a strategic partnership with Windsor Eyes, a prominent eyewear manufacturing and distribution firm.

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17 Apr 2024 11:07

Tekcapital says Innovative Eyewear strikes deal for US distribution

(Alliance News) - Tekcapital PLC on Wednesday said its portfolio company, Innovative Eyewear Inc, has secured a new partnership deal with Windsor Eyes Inc.

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5 Apr 2024 14:25

Tekcapital investee partners with autonomous vehicle developer

(Alliance News) - Tekcapital PLC on Friday said that technology developed by its portfolio company, Guident Ltd, will be used in autonomous vehicles built by Talinn-Estonia-based AuVe Tech OU.

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5 Apr 2024 13:07

Tekcapital upbeat on progress at investee company Guident

(Sharecast News) - Tekcapital updated the market on its investee company Guident on Friday, as the latter incorporated its remote monitoring and control (RMCC) technology into the MiCa autonomous shuttle being developed by Auve Tech.

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29 Feb 2024 14:20

Tekcapital raises GBP2 million through placing and subscription

(Alliance News) - Tekcapital PLC on Thursday said it has raised GBP2.0 million through a placing and subscription of shares.

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19 Feb 2024 18:57

TRADING UPDATES: Coro seals sale terms, Powerhouse makes good progress

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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15 Feb 2024 16:02

TRADING UPDATES: Diversified Energy offers dividend alternative

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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15 Feb 2024 14:48

Takcapital investee Guident inks partnership with AuVe Tech

(Sharecast News) - Tekcapital announced on Thursday that its autonomous vehicle technology investee Guident had inked a strategic partnership with AuVe Tech, an Estonian company specialising in autonomous transportation systems.

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1 Feb 2024 14:10

UPDATE: MicroSalt shares jump after IPO but investor Tekcapital falls

(Alliance News) - Tekcapital PLC on Thursday said its investee MicroSalt PLC has commenced trading on AIM, with the low-sodium salt producer also celebrating a successful fundraise.

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1 Feb 2024 11:39

Tekcapital shares fall but "excited" as MicroSalt completes IPO

(Alliance News) - Tekcapital PLC on Thursday said its investee MicroSalt PLC has commenced trading on AIM, with the low-sodium salt producer also celebrating a successful fundraise.

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29 Jan 2024 11:20

IN BRIEF: Tekcapital investee MicroSalt to IPO this week

MicroSalt PLC - London-based developer of manufacturing process that produces a salt crystal about 100 times smaller than traditional salt, providing saltiness with lower sodium - Expects to make its initial public offering on London's AIM market on Thursday, with an expected market capitalisation of GBP18.5 million and issued share price of 43 pence. Tekcapital PLC, a London-based intellectual property investor, holds an 87% stake in MicroSalt and 92% in its US subsidiary MicroSalt Inc.

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24 Jan 2024 12:47

IN BRIEF: Tekcapital raises GBP570,000 via sale of Belluscura shares

Tekcapital PLC - London-based intellectual property investor - Sells 3.5 million shares in AIM-listed medical device developer Belluscura PLC at a price of 16.15 pence each, raising GBP565,250. Following the share sale, Tekcapital owns 7.7% of Belluscura.

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11 Jan 2024 13:49

IN BRIEF: Tekcapital receives notices of allowance for eyewear patents

Tekcapital PLC - London-based intellectual property investment company - Says its portfolio company Innovative Eyewear Inc has received notices of allowance from the US patent and trademark agency for 14 patents protecting its Lucy Lyte smart eyewear designs. The notices indicate that Innovative's glasses, which connect to bluetooth and come with built-in audio features, are patentable. Innovative expects the design patents, which relate to the glasses' front plate and temple designs, to be issued after the payment of the issue fees. Tekcapital did not provide a timeline for the patents' progression.

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9 Jan 2024 10:11

Tekcapital says MicroSalt listed on Amazon UK for distribution

(Alliance News) - Tekcapital PLC on Tuesday said its MicroSalt low-sodium shakers will be sold on the Amazon UK platform.

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