TIDMSUPP

RNS Number : 6577X

Schroder UK Public Private Tst plc

05 May 2021

Schroder UK Public Private Trust plc

("SUPP" or the "Company")

Valuation adjustment following fundraising by ONT

The Company notes the announcement by Oxford Nanopore Technologies Ltd ("ONT") that it has raised GBP195 million in new capital including GBP125 million from new investors Temasek, Wellington Management, M&G Investments and Nikon. In addition, existing shareholders of ONT invested GBP70 million.

In the announcement of SUPP's unaudited NAV as at 31 December 2020 released on 7 April 2021, the Company stated that Link Fund Solutions Limited ("Link"), the Company's AIFM, had made no valuation adjustment for ONT and the valuation reflected in the NAV as at 31 December 2020 was based on the last funding round, which had not been adjusted for more than 12 months. Following the recent funding round by ONT, the Company has been advised by Link that it intends to revalue SUPP's holding in ONT to the price of this latest funding round which is expected to lead to an uplift in NAV of approximately GBP22m, representing an increase of 6.9% to the NAV as at 31 December 2020. This will be reflected in the NAV as at 31 March 2021, which is expected to be announced in early June 2021.

Enquiries:

Schroder Investment Management Limited

 
 Estelle Bibby (Press)               0207 658 3431 
 Gareth Faith (Company Secretary)    0207 658 5264

About Oxford Nanopore Technologies Ltd

Oxford Nanopore has developed a new generation of DNA sequencers, which uniquely scale from small portable formats to ultra-high throughput. They are unique in combining this scalability with real-time data streaming and the ability to sequence very long fragments of DNA/RNA, which provides very rich biological data. The company has customers across the globe using its technology for a range of scientific research including pathogen analysis, cancer research, agriculture, human genetics and environmental research.

On 30 March 2021, Oxford Nanopore notified shareholders that it has started the process of preparing for a potential Initial Public Offering ("IPO"). Whilst the timing of a potential IPO is dependent on market conditions and other matters not fully within its control, Oxford Nanopore currently expects the IPO to occur in the second half of the year on the London Stock Exchange.

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May 05, 2021 07:57 ET (11:57 GMT)

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