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17 May 2024 07:00
The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area (other than to professional investors in Belgium, Denmark, the Republic of Ireland, Luxembourg, the Netherlands, Norway and Sweden), Canada, Australia, Japan or the Republic of South Africa.
17 May 2024
Chrysalis Investments Limited ("Chrysalis" or the "Company")
Portfolio Update
The Company notes a news article published by Sky News on 16 May 2024 regarding one of its portfolio companies, wefox.
The Investment Adviser has been in discussions with wefox management and other shareholders for a number of months. A plan has been put in place to simplify wefox's business model to drive the company towards profitability. Following these conversations, the Investment Adviser believes there is a route to ensuring a successful outcome for wefox and Chrysalis's investment.
In recent weeks, wefox has raised approximately €20million from shareholders, to which the Company contributed €3million in support of the aforementioned strategy; the Investment Adviser continues to consider how best to support wefox achieve its ambitions and is confident of continued shareholder support for the company, if required.
As announced on 4 May 2024, the Company's valuation of its investment in wefox was reduced for the period ending 31 March 2024, where it represented 14.4% (22.1% at 31 December 2023) of the Company's net asset value.
-ENDS-
For further information, please contact
Media Montfort Communications: Charlotte McMullen / Imogen Saunders |
+44 (0) 7921 881 800 chrysalis@montfort.london |
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Chrysalis Investment Partners LLP: James Simpson
| +44 (0) 20 7871 5343 |
G10 Capital Limited (AIFM): | +44 (0) 20 7397 5450 |
Maria Baldwin |
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Liberum: Chris Clarke / Darren Vickers / Owen Matthews
| +44 (0) 20 3100 2000 |
Deutsche Numis: Nathan Brown / Matt Goss
| +44 (0) 20 7260 1000 |
Apex Administration (Guernsey) Limited: Chris Bougourd | +44 (0) 20 3530 3109 |
LEI: 213800F9SQ753JQHSW24
A copy of this announcement will be available on the Company's website at https://www.chrysalisinvestments.co.uk
The information contained in this announcement regarding the Company's investments has been provided by the relevant underlying portfolio company and has not been independently verified by the Company. The information contained herein is unaudited.
This announcement is for information purposes only and is not an offer to invest. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.
The Company is an alternative investment fund ("AIF") for the purposes of the AIFM Directive and as such is required to have an investment manager who is duly authorised to undertake the role of an alternative investment fund manager ("AIFM"). The AIFM appointed is G10 Capital Limited (part of the IQEQ Group).
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