TIDMADVT
RNS Number : 2332H
Advancedadvt Limited
05 April 2022
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS NOT
FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA,
CANADA, THE REPUBLIC OF SOUTH AFRICA, JAPAN, ANY MEMBER STATE OF
THE EUROPEAN ECONOMIC AREA OR ANY JURISDICTION IN WHICH IT WOULD BE
UNLAWFUL TO DO SO.
NOTHING IN THIS ANNOUNCEMENT OR THE PROSPECTUS CONSTITUTES AN
OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITIES
IN ANY TERRITORY.
AdvancedAdvT Limited
("AdvancedAdvT" or the "Company")
Lifting of Share Suspension, Strategic Overview, Net Asset Value
and Net Cash Position
Lifting of Share Suspension
Following the publication of the Prospectus on 31 March 2022,
the Company is pleased to announce that the suspension of the
Company's ordinary shares will be lifted and trading will
recommence at 8.00 a.m. today.
Strategic Overview
The Company was formed to seek and identify situations where a
merger of management expertise, improving operating performance,
freeing up cashflow for investment and implementation of focused
investment and M&A strategy can unlock growth in their core
markets and often into new territories and adjacent sectors.
The Company's objective is to generate attractive long term
returns for shareholders and to enhance value by supporting
sustainable growth, acquisitions and performance improvements
within the acquired companies.
Over the last 25 years companies across all sectors have
increasingly adopted new digital technologies to optimise business
processes and operations. Implementing these new technologies has
become central to driving cost efficiencies and gaining a
competitive advantage in a digital world, where sectors and
businesses with the highest level of digitalisation display the
largest productivity growth.
Despite the opportunities presented by digitalisation,
pre-Covid-19 adoption of new technologies by businesses and
consumers was in part restricted by the reticence of companies to
invest in digital strategies and adopt new systems and
technologies.
The global restrictions caused by Covid-19 have helped to break
down these barriers and forced businesses to become more agile
which has considerably accelerated digitalisation. Despite
businesses cutting costs because of the Covid-19 pandemic, spending
on digital transformation has increased as organisations rapidly
adapt their business models. A McKinsey study([1]) found that the
pandemic had sped up the adoption of digital technologies by
several years, and that most companies will need to build new
digital businesses to stay economically viable.
We therefore believe there is significant opportunity to invest
in companies that are positioned to take advantage of the
structural change arising from an unprecedented acceleration of
digitalisation brought about by the current macroeconomic
environment, affecting the way people live, work and consume, and
the way businesses operate, engage and sell to customers.
Net Asset Value and Net Cash Position
AdvancedAdvT announces that as at 31 March 2022, the unaudited
net asset value ("NAV") per ordinary share was 94 pence([2]) .
The above NAV calculation is based on the Company's issued share
capital of 133,200,000 ordinary shares of no par value each.
The Company announces that as at 31 March 2022, it had an
unaudited net cash balance of GBP105.1m.
The LEI of the Company is 254900WYO35S1T334A28.
Footnotes:
[1]
https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/the-new-digital-edge-rethinking-strategy-for-the-postpandemic-era
[2] As at the close of business on 31 March 2022, AdvancedAdvT's
holding of ordinary shares in M&C Saatchi was valued at
GBP21.3m, using a 10 day volume weighted average price to 31 March
2022 of 177.8 pence per M&C Saatchi share.
As at the 31 March 2022, the total value of trade and other
receivable balances held by the Company are immaterial, and the
total value of the Company's trade and other payables balances are
GBP0.3m.
Enquiries:
Company Secretary
Antoinette Vanderpuije 020 7004 2743
Meare Consulting (Financial PR to the Company)
Adrian Duffield 07990 858548
Further information on the Company can be found on its website
at www.advancedadvt.com. Neither the content of the Company's
website, nor the content on any website accessible from hyperlinks
on its website or any other website, is incorporated into, or forms
part of, this announcement nor, unless previously published by
means of a regulatory 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.
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END
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April 05, 2022 02:00 ET (06:00 GMT)
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