Tekcapital (GB:TEK) has released an update.
Tekcapital plc, an IP investment group, reported on May 22, 2024, a challenging financial year ending December 31, 2023, with net assets decreasing to US$47.9m from US$57.8m the previous year. Despite setbacks from reductions in valuations of portfolio companies Lucyd and Belluscura, the estimated portfolio valuation post-period end showed a strong recovery to approximately US$75m. The AGM is scheduled for June 21, 2024, and the annual report will be posted on May 23, 2024. Key portfolio companies like Microsalt and Guident have made significant progress, with Microsalt’s IPO and Guident’s advances in autonomous vehicle safety.
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