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Albion Crown VCT PLC: Interim Management Statement
LEI Code: 213800SYIQPA3L3T1Q68
I present Albion Crown VCT PLC (the “Company”)’s interim management statement for the period from 1 July 2025 to 30 September 2025.
Ordinary shares
The Ordinary shares unaudited net asset value (NAV) as at 30 September 2025 was £117.0 million or 30.24 pence per Ordinary share, a decrease of 0.09 pence per Ordinary share (0.30%) since 30 June 2025.
After accounting for the dividend of 0.76 pence per Ordinary share, to be paid on 5 December 2025 to shareholders on the register on 7 November 2025, the NAV is 29.48 pence per Ordinary share.
C Shares
The C shares unaudited NAV as at 30 September 2025 was £52.4 million or 39.83 pence per C share, a decrease of 0.26 pence per C share (0.65%) since 30 June 2025.
After accounting for the dividend of 1.00 pence per C share, to be paid on 5 December 2025 to shareholders on the register on 7 November 2025, the NAV is 38.83 pence per C share.
On 23 October 2025 the Company announced the publication of its prospectus for the Albion VCTs Top Up Offers 2025/26 of new Ordinary shares seeking to raise up to £20 million (before issue costs), with an overallotment facility of up to an additional £10 million. The Offers opened for applications on 3 November 2025. Further details can be found at www.albion.capital/offers.
As detailed in the Annual Report and Financial Statements for the year ended 30 June 2025, after reviewing detailed cash flow forecasts, the Board has agreed with the Manager that the current investment focus for the C share class will be on supporting existing portfolio companies and not to make further new investments. This is to ensure that the C share class has sufficient cash resources for follow-on investments, dividends and share buybacks.
The following investments have been made during the period from 1 July 2025 to 30 September 2025:
A full breakdown of the Company’s Ordinary and C share portfolios can be found on the Company’s webpage on the Manager’s website at www.albion.capital/vct-funds/CRWN.
During the period from 1 July 2025 to 30 September 2025, the Company did not buy back any shares as it was in a close period.
It remains the Board’s policy to buy back Ordinary and C shares in the market, subject to the overall constraint that such purchases are in the Company’s interest, including the maintenance of sufficient resources for investment in existing and new portfolio companies and the continued payment of dividends to shareholders.
It is the Board’s intention for buy-backs to be at around a 5% discount to net asset value, so far as market conditions and liquidity permit.
On 23 October 2025, the Company announced the publication of its prospectus for the Albion VCTs Top Up Offers 2025/26 as detailed above.
The Company disposed of its holding in The Evewell Group for initial proceeds of £5.2 million (Ordinary shares £2.6 million; C shares: £2.6 million), representing a 2.8x return on cash invested (including interest and dividends received) with the potential to return 3.2x through an earnout.
In line with the Merger Circular approved in December 2024, the C share class (CRWC) will convert into Ordinary shares (CRWN) on a relative Net Asset Value basis as at 30 June 2026, which is expected to complete in November 2026.
Further information regarding historic and current financial performance and other useful shareholder information can be found on the Company’s webpage on the Manager’s website at www.albion.capital/vct-funds/CRWN.
Richard Glover, Chairman
27 November 2025
For further information please contact:
Vikash Hansrani
Operations Partner
Albion Capital Group LLP – Tel: 020 7601 1850
2321 Rosecrans Avenue. Suite 2200
90245 El Segundo Stati Uniti