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30 Jan 2025 07:00
30 January 2025
Mindflair plc
("Mindflair" or the "Company")
Net asset value update
Mindflair, the company investing in next-generation technology focused on AI, is pleased to provide an NAV update in relation to certain of its investments, namely the first Sure Valley Ventures fund ("SVV1") and Sure Ventures plc ("SV plc") which have both just published their net asset values ("NAVs") as at 31 December 2024. Mindflair holds a 13% direct interest in SVV1 and a 23.6% interest Sure Ventures plc, who in turn has a 25.9% holding in SVV1.
As at 30 June 2024, the date of the Company's interim results for the six months to 30 June 2024, the value of the Company's investment in SVV1 amounted to £5,445,702. This is based on SVV1's NAV calculation as provided to its investors. As at 31 December 2024, this figure had increased by £1,907,675 (or 35%) to £7,353,377.
As at 30 June 2024, the value of the Company's investment in SV plc amounted to £1,088,225. This was based on the SV plc share price of 72.5 pence as at that date. SV plc's NAV at 31 December 2024 amounted to 148 pence per SV plc share. As at 31 December 2024, the value of Mindflair's investment in SV plc, which includes an additional investment of £300,000 made in August 2024, was £1,489,768, based on the SV plc share price of 82 pence as at that date. SV plc's NAV at 31 December 2024 amounted to 181 pence per SV plc share. Since 31 December 2024, SV plc's share price has increased to 97.5 pence as of 29 January 2025.
This increase in value of both investments has principally been driven by the impact of the increasing valuation of Infinite Reality ("iR") which forms part of the SVV1 portfolio as a result of SVV1's sale of its holding in Landvault to iR as announced in July 2024.
Nicholas Lee, a Director of Mindflair, said:
"It is very encouraging to see how two material investments within the Company's portfolio have significantly increased in value over the last six months. We look forward to providing further updates on the portfolio in due course."
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement. The person who arranged for the release of this information is Nicholas Lee, a director of the Company.
Enquiries:
Mindflair plc Nicholas Lee, Director |
Tel: +44 (0) 20 3368 8961 |
Nominated Adviser Cairn Financial Advisers LLP Liam Murray/Ludovico Lazzaretti
| Tel: +44 (0) 20 7213 0880 |
Joint broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams | Tel: +44 (0) 20 7469 0935 Tel: +44 (0) 20 7469 0936 |
Joint broker Shard Capital Partners LLP Damon Heath | Tel: +44 (0) 20 7601 6100
|
Notes to Editors
Mindflair plc (AIM: MFAI) is an investment company providing investors with access to a portfolio of next generation technology businesses focused on AI with significant growth potential. The Company is building an investment portfolio of high-tech businesses focused on Artificial Intelligence, across such areas as Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors. For further information, visit: http://www.mindflair.tech/.
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