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information contained in this announcement is restricted and is not
for publication, release or distribution in the United States of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-
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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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Chrysalis Investment Partners LLP:
James Simpson
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+44
(0) 20 7871 5343
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G10
Capital Limited (AIFM):
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+44
(0) 20 7397 5450
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Maria Baldwin
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Liberum:
Chris Clarke / Darren Vickers / Owen
Matthews
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+44
(0) 20 3100 2000
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Deutsche Numis:
Nathan Brown / Matt Goss
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+44
(0) 20 7260 1000
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Apex Administration (Guernsey) Limited:
Chris Bougourd
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+44
(0) 20 3530 3109
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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).