AIM Losers22 May 2024 11:21
AIM - LOSERS
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Tekcapital PLC, down 9.2% at 10.90p, 12-month range 6.00p-18.00p. The intellectual property investor reports a weaker net asset value3, as it notes "unrealized reductions" in the valuations of investee Lucyd and Belluscura. Its NAV per share falls 29% to USD0.27 at the end of 2023 from USD0.38 a year prior. Its portfolio valuation declines to USD41.1 million from USD54.9 million. Tekcapital adds: "In 2023 we had a productive year for long-term value creation, setting the foundation for meaningful growth in 2024 as evidenced by the successful flotation of Microsalt PLC post year end. Our portfolio companies achieved significant milestones, however due to unrealized reductions in the end of period quoted valuations of Lucyd and Belluscura, our profitability, net assets and net assets per share were commensurately negatively impacted." Belluscura is a respiratory medical device company. Lucyd is an eyewear firm.
This entire thing smells of fish…