Liquidity and Cash Update
Summary by AI BETAClose X
The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area (other than to professional investors in Belgium,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.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which forms part of domestic law in the United Kingdom pursuant to The European Union Withdrawal Act 2018, as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019.
10 March 2026
Chrysalis Investments Limited ("Chrysalis" or the "Company")
Liquidity and Cash Update
Liquidity Update
Further to the Company's announcement on 19 February 2026 regarding its revised investment policy and its stated intention to repay the Barclays facility in full at its September 2026 maturity, the Company provides the following update.
Under the terms of the Company's existing financing facility with Barclays Bank plc ("Barclays"), certain valuation movements in underlying portfolio assets can affect the borrowing base used for loan-to-value calculations. Following recent share price movements in Klarna, part of the Company's borrowing base has reduced for the purposes of these calculations.
As a result, and in accordance with the facility terms, the Company has made a repayment of £32.8 million to maintain compliance with the facility's loan-to-value requirements. Given the Company's previously announced intention to repay the facility in full in September 2026, this repayment represents a partial prepayment of that amount and will correspondingly reduce the final balance outstanding at maturity.
In addition, at the time of the origination of the facility, the Investment Adviser negotiated the ability for the Company to repay up to £20 million prior to the loan's maturity, free of any make-whole charges. The Company made a prepayment of £10 million utilising this mechanism in October 2025 and has utilised its capacity to repay a further £10 million, meaning a total of £42.8 million has been repaid against the loan of £60 million, leaving £17.2 million outstanding.
Cash Update
As of 6 March 2026, the Company had a total liquidity position of approximately £76.7 million, following the above repayment, comprised of:
• Gross cash and cash equivalents of approximately £30.7 million, and
• Listed positions in Klarna and Wise of approximately £43.3 million and £2.7 million respectively.
-ENDS-
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For further information, please contact:
Media Montfort Communications: Charlotte McMullen / Imogen Saunders
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+44 (0) 7921 881 800 chrysalis@montfort.london |
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Investment Adviser Chrysalis Investment Partners LLP: James Simpson
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+44 (0) 20 7871 5343 |
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AIFM G10 Capital Limited: Dominic Williams
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+44 (0) 20 7397 5450 |
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Deutsche Numis: Nathan Brown / Matt Goss
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+44 (0) 20 7260 1000 |
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Panmure Liberum: Chris Clarke / Darren Vickers
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+44 (0) 20 3100 2222 |
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Barclays Bank PLC: Dion Di Miceli / Stuart Muress / James Atkinson
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+44 (0) 20 7623 2323 |
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IQEQ Fund Services (Guernsey) Limited: Aimee Gontier / Elaine Smeja
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+44 (0) 1481 231 852 |
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). Chrysalis Investment Partners LLP is the investment adviser to G10 Capital Limited. Chrysalis Investment Partners LLP (FRN: 1009684) is an Appointed Representative of G10 Capital (FRN: 648953) Limited, which is authorised and regulated by the Financial Conduct Authority.
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