DJ Freetrade Exit and Share Repurchase Programme
Molten Ventures Plc (GROW; GRW)
Freetrade Exit and Share Repurchase Programme
16-Jan-2025 / 10:05 GMT/BST
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Molten Ventures plc
("Molten Ventures", "Molten", "the "Group" or the "Company")
Freetrade Exit and Share Repurchase Programme
Molten Ventures (LSE: GROW, Euronext Dublin: GRW), a leading venture capital firm investing in and developing
high-growth digital technology businesses, today announces that Freetrade, the fast-growing, commission free
self-directed investment platform, has agreed terms to be acquired by the FTSE 250 company IG Group (LSE: IGG) which
provides online trading platforms and educational resources around the globe.
Molten first invested in Freetrade in the Series A in 2019. This deal values Molten's stake 30% above the 30 September
2024 holding value of GBP17 million and will deliver a 1.6x multiple on invested capital. Completion is subject to
regulatory approvals, with proceeds currently expected in mid-2025.
Including the anticipated proceeds from this transaction, the Group's realisations during the current financial year
now stand at over GBP150 million, subject to regulatory approval, exceeding the original guidance given of GBP100 million.
These realisations have delivered on average a 2.5x multiple on invested capital providing further validation for
Molten's valuation process, investment approach and active portfolio management. Molten will continue to deploy
proceeds from realisations into exceptional primary and secondary investments.
In line with our previously stated intentions to allocate a minimum of 10% of realisation proceeds towards share
buybacks, Molten Ventures intends to commence a further GBP5 million share repurchase programme (the "Programme"). The
Company will continue to keep its capital allocation policy under review, balancing the pipeline of new investment
opportunities against the ability to drive returns to shareholders through the Programme whilst maintaining sufficient
reserves.
Ben Wilkinson, Chief Executive Officer of Molten Ventures, commented:
"As part of our approach to active portfolio management, we have worked closely with Freetrade over the years to
support their growth and success. This exit is a strong start to 2025 for Molten and our ability to back and scale
leading digital businesses. The additional capital resources will enable us to commence a further share repurchase
programme, recognising the prevailing discounted levels of our shares."
-ENDS-
Enquiries
Molten Ventures plc
+44 (0)20 7931 8800
Ben Wilkinson (Chief Executive Officer)
ir@molten.vc
Andrew Zimmermann (Interim Chief Financial Officer)
Deutsche Numis
Joint Financial Adviser and Corporate Broker
Simon Willis +44 (0)20 7260 1000
Jamie Loughborough
Iqra Amin
Goodbody Stockbrokers
Joint Financial Adviser and Corporate Broker,
Euronext Dublin Sponsor
+44 (0) 20 3841 6202
Don Harrington
Tom Nicholson
William Hall
Sodali
+44 (0)7970 246 725/
Public relations
+44 (0)771 324 6126
Elly Williamson
molten@sodali.com
Jane Glover About Molten Ventures
Molten Ventures is a leading venture capital firm in Europe, developing and investing in disruptive, high growth technology companies. We inject visionary companies with energy to help them transform and grow. This energy comes in many forms - capital, of course, but also knowledge, experience, and relationships. We believe it is our role to support the entrepreneurs who will invent the future, and that future is being built, today, in Europe.
As at 30 September 2024, Molten Ventures had a diverse portfolio with shareholdings in 100+ companies, 18 of which represent our Core Portfolio holdings and account for 61% of the Gross Portfolio Value. Our core companies include Revolut, Thought Machine, Coachhub, Form3, Aiven, Ledger and Aircall. We invest across four sectors: Enterprise Technology, Hardware and Deeptech, Consumer Technology, and Digital Health and Wellness, with highly experienced partners constantly looking for new opportunities in each. We look for high-growth companies operating in new markets, with aspirations for global expansion, strong IP, powerful technology, and strong management teams to deliver success. We also look for businesses with the potential to generate strong margins to ensure rapid, sustainable growth in substantial addressable markets.
Molten Ventures provides a unique opportunity for public market investors to access these fast-growing tech businesses, without having to commit to long term investments with limited liquidity. Since our IPO in June 2016, we have deployed over GBP1bn capital into fast growing tech companies and have realised over GBP600 million to 30 September 2024.
For more information, go to https://investors.moltenventures.com/investor-relations/plc
----------------------------------------------------------------------------------------------------------------------- Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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ISIN: GB00BY7QYJ50 Category Code: MSCU TIDM: GROW; GRW LEI Code: 213800IPCR3SAYJWSW10 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 371064 EQS News ID: 2069201 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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(END) Dow Jones Newswires
January 16, 2025 05:05 ET (10:05 GMT)
