Portfolio Update

RNS Number : 8075Z

Merian Chrysalis Investment Co. Ltd

15 January 2020

 

The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area (other than the United Kingdom and the Republic of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

Merian Chrysalis Investment Company Limited

15 January 2020

Merian Chrysalis Investment Company Limited (the "Company")

Portfolio Update

·     Follow-on investment in Graphcore Limited

·     Update on portfolio composition

Follow-on investment in Graphcore Limited

The Company is pleased to announce a follow-on investment of $25m in Graphcore Limited ("Graphcore").  Following this investment, Graphcore will account for approximately 13% of the Company's total portfolio. 

Nick Williamson, co-portfolio manager, comments:

"Since our initial investment, Graphcore has made significant progress in developing its offering, including the announcement of its high-profile collaboration with Microsoft. While the company remains highly capitalised following its raise last year, we believe the market for artificial intelligence chips is set to grow strongly over the coming years, and Graphcore is well placed to offer a new and more efficient architecture for many deep learning applications."

Update on portfolio composition

Subsequent to the follow-on Graphcore investment, and assuming the recent Embark Group Limited capital injection of £12.2m completes as planned, the Company will be approximately 80% fully invested.

The investment advisory team continues to assess a pipeline of attractive investment opportunities.

-ENDS-

For further information, please contact: Merian Global Investors: Amelie Shepherd	[phone]
Liberum: Gillian Martin / Owen Matthews	[phone]
Maitland Administration (Guernsey) Limited: Elaine Smeja	[phone]

LEI: 213800F9SQ753JQHSW24

A copy of this announcement will be available on the Company's website at https://www.merian.com/chrysalis/. 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.

This announcement may include "forward-looking statements". All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services) are forward-looking statements.

Forward-looking statements are subject to risks and uncertainties and accordingly the Company's actual future financial results and operational performance may differ materially from the results and performance expressed in, or implied by, the statements. These factors include but are not limited to those described in the formal Prospectus. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Listing Rules or Prospectus Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.

 

END

 

 

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