Portfolio Update

RNS Number : 0767I

Literacy Capital PLC

10 August 2021

 

The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area, Canada, Australia, Japan or the Republic of South Africa.

This announcement contains inside information.

10 August 2021

Literacy Capital plc ("Literacy Capital" or the "Company")

Butternut Box raises new funding, generating an estimated 7.1%, or 13p per share, uplift in NAV

Portfolio update

Literacy Capital is pleased to announce that Butternut Box, a business providing healthy, fresh dog food on a subscription to dog owners' doors, has finalised a funding round to raise further equity to support the continued growth of the business.

As at 30 June 2021, Butternut Box was Literacy Capital's 3^rd largest underlying investment and represented 5.8% of NAV.

The transaction values Butternut Box at a 122% uplift to its carrying value at 30 June 2021, the estimated uplift from this transaction relative to Literacy Capital's net asset value at 30 June 2021 is approximately 7.1%, or 13p per share.

Had Butternut Box been valued at this valuation at 30 June 2021, the Company estimates that Literacy Capital's net asset value per share at that date would have been 196.1p.

The transaction legally completed yesterday evening with funding committed and due to follow shortly. Literacy Capital will not receive any cash consideration nor invest as part of this funding round and therefore the number of shares it owns will remain unchanged.

Enquires

Singer Capital Markets Securities Limited:

Robert Peel / Amanda Gray

[phone]

Literacy Capital plc / Literacy Capital Asset Management LLP:

Tom Vernon

[phone]

LEI: 2549006P3DFN5HLFGR54

A copy of this announcement will be available on the Company's website at www.literacycapital.com.

 

END

 

 

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