Pantheon International eyes share division as stock price "a barrier"

(Alliance News) - Pantheon International PLC on Thursday said its annual net asset value grew and ...

Alliance News 5 August, 2021 | 9:36AM
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(Alliance News) - Pantheon International PLC on Thursday said its annual net asset value grew and the investor proposed a sub-division of its shares.

In the year ended May 31, Pantheon's net asset value per share rose 20% annually to 3,448.42 pence from 2,882.75p.

Shares in the company were 0.1% higher at 2,683.01p each in London on Thursday morning.

"This increase, which exceeded 30% before foreign exchange adjustments, demonstrates the resilience and growth orientation of our private equity investment portfolio. The valuation gains have included some very impressive results from specific company investments such as JFrog, an end-to-end software solutions provider, and Allegro, Poland's largest online marketplace, both of which had very successful IPO's during the period," Pantheon said.

Like previous years, the company declared no payout.

"The rollout of the vaccination programmes and the gradual lifting of lockdowns has brought considerable relief to many parts of the world. There are, however, some significant uncertainties ahead. These include the prospect of rising inflation, concerns about how governments will manage their massive fiscal imbalances, tensions between the global super-powers and continuing cyber-related terrorism," the company added.

Pantheon proposed a sub-division of its shares, noting that its higher stock price may deter investors. It said its share price has "grown strongly over recent years".

"Whilst this growth is clearly positive for shareholders, the directors recognise that the high share price might be a barrier to investment for certain investors including regular savers who may wish to invest smaller amounts and buy smaller quantities of shares," the company explained.

"Accordingly, in order to make PIP's shares more accessible to a range of investors with a view to improving the marketability of PIP's shares, the board proposes to split each share into 10."

In addition, Pantheon said Senior Independent Director Susannah Nicklin will leave the company at the en of this year's annual general meeting. Mary Ann Sieghart, who joined the company's board back in October 2019, will take over as senior independent director. Pantheon will begin the search for a new director in autumn.

By Eric Cunha; ericcunha@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Pantheon International Ord 323.00 GBX -0.92

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