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NetScientific says it is well place to realise 'optimal shareholder value'

Published: 07:35 12 May 2022 BST

NetScientific PLC -
The group invests in the technology, life sciences and sustainability sectors

Netscientific PLC said it is in a “strong position, well placed to realise optimal shareholder value” after a year of significant change.

The group, which invests in the technology, life sciences and sustainability sectors, also said the business turnaround is largely complete.

This followed an oversubscribed share placing, which raised £7.7mln that has helped management accelerate its investment and growth.

It has expanded its portfolio to 22 companies from 17, and, crucially, has seen its total assets grow by 156% to £20.7mln in the 12 months ended 31 December 2021.

The loss in the period was £2.9mln, reflecting Netscientific’s increased investment in research and development activities.

"We are delighted with the company's performance during the period. The business has been transformed and we have a clear, planned route and growth strategy to optimise shareholder value from our investments," said chief executive Dr Ilian Iliev and chairman John Clarkson.

"We remain extremely excited by the growth trajectory of our current portfolio and look forward to adding to this further in due course.

“This will be supplemented by the creation of a hub in America, which we believe will further enable us to drive value, with our focus on identifying liquidity events and exits at the appropriate juncture."

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