Daily Indicative NAV Restatement - BenevolentAI

RNS Number : 0383A

Schroder UK Public Private Tst plc

20 September 2022

 

20 September 2022

Schroder UK Public Private Trust plc (the "Company")

NAV restatement - BenevolentAI

On 26 April 2022, the Company announced the completion of BenevolentAI's business combination with Odyssey Acquisition S.A. ("Odyssey"), a Euronext Amsterdam-listed investment company, by way of a share for share exchange. The announcement stated that BenevolentAI would henceforth be valued using its unadjusted quoted price in the Company's daily indicative unaudited NAV per share.

It has been identified that, due to an administrative error, the valuation of the Company's holding in BenevolentAI has been held at the valuation on the date of completion of the transaction with Odyssey and not updated for the quoted price on a daily basis since 26 April 2022.

The impact of the adjustment to reflect the quoted price of BenevolentAI in the most recently published daily indicative unaudited NAV as at 15 September 2022 is a reduction of 2.41 pence per share to 33.59 pence. The daily quoted price for BenevolentAI will be reflected in the daily indicative unaudited NAV as at 16 September 2022, to be announced today, and thereafter.

The restated daily indicative unaudited NAVs for the period from 26 April 2022 to 15 September 2022 are included in the table below this announcement. The restated daily indicative unaudited NAVs include the valuation of the unquoted portfolio as at 31 March 2022. The valuations of the unquoted assets as at 30 June 2022 will be included within the half-year report and accounts for the period end 30 June 2022, expected to be published shortly, following which, the daily indicative unaudited NAV will reflect the valuations of the unquoted assets as at 30 June 2022, in accordance with the Company's policy.

The Company has taken steps to address the valuation issues identified in this announcement. The Company previously announced that, with effect from 1 October 2022, and subject to regulatory approvals, Schroder Unit Trusts Limited will be appointed as the Company's alternative investment fund manager, replacing Link Fund Solutions Limited. At the same time as serving notice on Link, the Company also served notice on Northern Trust to terminate their fund administration and depositary agreements. The Company will appoint Schroders and HSBC to provide fund administration services, and HSBC to provide depositary services, with effect from 1 October 2022.

Enquiries:

Schroder Investment Management Limited

Augustine Chipungu (Press)   0207 658 2106

John Spedding 0207 658 3206

This announcement contains Inside Information as defined under the UK Market Abuse Regulation.

Date	Published daily indicative unaudited NAV per share (p)	Revised daily indicative unaudited NAV per share (p)	Change (p)
26/04/22	38.15	38.15	(0.00)
27/04/22	38.22	38.20	(0.02)
28/04/22	38.36	38.19	(0.17)
29/04/22	37.99	37.95	(0.04)
03/05/22	37.73	37.73	(0.00)
04/05/22	37.37	37.37	(0.01)
05/05/22	37.55	37.60	0.05
06/05/22	37.11	37.22	0.11
09/05/22	36.60	36.71	0.12
10/05/22	36.50	36.16	(0.34)
11/05/22	36.54	35.95	(0.59)
12/05/22	36.34	35.72	(0.62)
13/05/22	37.31	36.94	(0.36)
16/05/22	37.45	37.08	(0.38)
17/05/22	37.50	37.07	(0.43)
18/05/22	37.17	36.91	(0.26)
19/05/22	37.48	37.23	(0.25)
20/05/22	38.25	37.98	(0.27)
23/05/22	37.91	37.77	(0.14)
24/05/22	38.01	37.90	(0.10)
25/05/22	37.71	37.57	(0.14)
26/05/22	37.97	37.84	(0.13)
27/05/22	38.14	37.87	(0.27)
30/05/22	38.48	38.25	(0.24)
31/05/22	38.04	37.80	(0.24)
01/06/22	37.70	37.58	(0.12)
06/06/22	36.38	36.26	(0.12)
07/06/22	36.53	36.39	(0.14)
08/06/22	36.74	36.62	(0.12)
09/06/22	36.45	36.31	(0.14)
10/06/22	35.89	35.77	(0.12)
13/06/22	35.67	35.57	(0.10)
14/06/22	35.65	34.60	(1.05)
15/06/22	36.13	35.36	(0.77)
16/06/22	35.44	34.66	(0.79)
17/06/22	35.84	35.07	(0.77)
20/06/22	35.79	35.02	(0.77)
21/06/22	35.99	35.22	(0.77)
22/06/22	35.63	34.87	(0.76)
23/06/22	35.49	34.72	(0.77)
24/06/22	35.81	35.04	(0.76)
27/06/22	35.76	35.01	(0.75)
28/06/22	35.51	34.76	(0.75)
29/06/22	35.28	34.52	(0.76)
30/06/22	34.80	34.04	(0.76)
01/07/22	34.69	33.71	(0.98)
04/07/22	34.56	33.57	(0.99)
05/07/22	34.94	33.95	(0.99)
06/07/22	35.81	34.80	(1.01)
07/07/22	36.07	35.02	(1.05)
08/07/22	36.10	35.00	(1.11)
11/07/22	35.91	34.79	(1.12)
12/07/22	35.55	34.43	(1.12)
13/07/22	35.50	34.45	(1.04)
14/07/22	34.92	33.88	(1.04)
15/07/22	35.31	34.12	(1.18)
18/07/22	35.33	34.00	(1.32)
19/07/22	35.39	34.09	(1.31)
20/07/22	35.80	34.49	(1.32)
21/07/22	36.19	34.88	(1.31)
22/07/22	35.86	34.39	(1.47)
25/07/22	35.56	34.08	(1.48)
26/07/22	35.37	33.87	(1.50)
27/07/22	35.44	33.93	(1.51)
28/07/22	35.82	34.30	(1.52)
29/07/22	36.18	34.67	(1.51)
01/08/22	36.21	34.69	(1.52)
02/08/22	36.06	34.47	(1.59)
03/08/22	36.57	34.99	(1.58)
04/08/22	36.24	34.67	(1.57)
05/08/22	36.34	34.78	(1.56)
08/08/22	36.36	34.80	(1.56)
09/08/22	36.13	34.57	(1.56)
10/08/22	36.37	34.52	(1.85)
11/08/22	36.83	34.99	(1.84)
12/08/22	36.46	34.73	(1.73)
15/08/22	36.63	34.89	(1.74)
16/08/22	36.38	34.54	(1.84)
17/08/22	36.23	34.21	(2.02)
18/08/22	36.31	34.29	(2.02)
19/08/22	36.46	34.40	(2.06)
22/08/22	35.82	33.75	(2.07)
23/08/22	35.52	33.42	(2.10)
24/08/22	35.69	33.60	(2.09)
25/08/22	35.81	33.70	(2.12)
26/08/22	35.54	33.44	(2.10)
30/08/22	35.79	33.69	(2.10)
31/08/22	35.55	33.31	(2.24)
01/09/22	35.81	33.72	(2.09)
02/09/22	36.18	34.10	(2.08)
05/09/22	36.05	33.82	(2.23)
06/09/22	36.11	33.99	(2.12)
07/09/22	35.99	33.89	(2.10)
08/09/22	36.04	33.70	(2.34)
09/09/22	35.71	33.38	(2.33)
12/09/22	35.22	32.94	(2.28)
13/09/22	35.58	33.25	(2.33)
14/09/22	35.84	33.42	(2.42)
15/09/22	36.00	33.59	(2.41)

 

END

 

 

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