Portfolio Update

RNS Number : 4806B

Woodford Patient Capital Trust PLC

21 September 2018

 

Woodford Patient Capital Trust plc

Woodford Patient Capital Trust portfolio update

21 September 2018

Woodford Patient Capital Trust (WPCT) notes that a portfolio holding has today been revalued upwards by Link Fund Solutions Limited, its appointed Alternative Investment Fund Manager, resulting in a material uplift to its net asset value (NAV). The value of the holding, Industrial Heat, has been increased by 357% and is now valued at $112.9m. This represents an increase of 8.02p per share of WPCT compared to the NAV published on Thursday 20 September 2018, based on a $/£ rate of 1.33. This will be reflected in the WPCT NAV of Thursday 20 September 2018 that will be published today.

Woodford statement:

"The net asset value of the Woodford Patient Capital Trust has today seen a material uplift as a result of developments at Industrial Heat, a disruptive technology company in which the Company holds a position. 

Industrial Heat has built a platform of new energy technologies focused on harnessing hitherto poorly understood or neglected energy science, including cold fusion. Despite its potentially disruptive implications, scepticism has historically surrounded this branch of science. We funded Industrial Heat to engage credible world-leading institutions to rigorously assess the claims of research groups in the field. 

Over the course of the past eighteen months, there have been developments within Industrial Heat's portfolio of technologies that have shown increasing promise. Hence, with the company raising capital from other investors to continue the path to commercialisation, the valuation of the company has been adjusted to reflect this progress. 

Although, this is positive progress for Industrial Heat and the Trust, it remains early days in the development and commercialisation of these technologies. We look forward to sharing more details with you when we can."

For further information please contact:

For Woodford
FourBroadgate

Roland Cross / Jonathan Atkins

020 3697 4200

[e-mail]

For Link Fund Solutions Limited
Teamspirit

David Sells

020 7861 3835

[e-mail]

Notes to editors:

For further information go to: woodfordfunds.com

About Woodford Investment Management:

Woodford Investment Management Limited is a fast-growing asset management company built on a founding philosophy of transparency and simplicity. Launched in May 2014, the company has more than £12 billion assets under management and advice. Further information can be found at https://woodfordfunds.com

Woodford Investment Management Ltd

9400 Garsington Road Oxford OX4 2HN

[phone]

[e-mail]

woodfordfunds.com

This announcement contains Inside Information as defined under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this Inside Information is now considered to be in the public domain.

LEI: 2138008X94M7OVE73I77

 

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