Literacy Capital PLC - London-headquartered trust focused on long-term investments in private UK businesses - Net asset value climbs 2.0% to 510.4 pence per share from 500.4p at December 31, and is 9.2% higher than 467.3p a year prior. NAV total return is 2.0%, improved from 1.6% in the fourth quarter of 2023 but down from a return of 11% in the first quarter of 2023. The company noted that its largest holding RCI, developed positively ‘and was the strongest contributor again in Q1.’ Richard Pindar, chief executive officer of Literacy’s investment manager, says: ‘Cash inflows were again substantial, as the portfolio was rebalanced with capital recycled from more mature assets into new investment opportunities or used to pay down the fund’s drawings under its revolving credit facility. We expect cash inflows to remain strong in the remainder of 2024, whilst we are also seeing many attractive opportunities to redeploy capital into newer investments.’

Current stock price: 524.00 pence per share, up 3.8% on Monday afternoon in London

12-month change: up 18%

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