Molten Ventures is a London-based venture capital (VC) firm that invests in the European technology sector. It has a portfolio of c 70 investee companies and includes a range of funds (seed, EIS and VCT) within the group, as well as its flagship balance sheet VC fund.
For the purposes of the Takeover Code, Edison is deemed to be connected with Molten Ventures as a provider of paid-for research. Under Rule 20.1 Edison must not include any profit forecast, quantified financial benefits statement, asset valuation or estimate of other figures key to the offer, except to the extent that such forecasts, statements, valuations or estimates have been published prior to the offer period (as defined in the Takeover Code) by an offeror or the offeree company (as appropriate) in accordance with the requirements of the Code. Consequently we have removed our estimates until the offer period ends.
Financials |
Flash note
Investment Companies |
Review
Investment Companies |
edison tv
Financials |
Flash note
Ben Wilkinson
CFO
Martin Davis
CEO
Forecast net debt (£m)
N/A
Forecast gearing ratio (%)
N/A
% | 1M | 3M | 12M |
---|---|---|---|
Actual | (7.3) | (18.3) | (16.3) |
Relative | (10.2) | (20.4) | (21.8) |
52 week high/low | 311.8p/208.8p |
Molten Ventures’ November all-share offer for Forward Partners (FP) offered FP shareholders one Molten share for every nine FP shares. Based on Molten’s closing price on 24 November 2023, this would translate into 31.1p per FP share, a 6.6% premium to the three-month volume-weighted average price. The deal was approved by FP’s general meeting on 17 January 2024. Molten recently completed a £55m institutional placing, accompanied by a £2.4m retail offering via PrimaryBid and an offer of up to 1,401,843 shares made available to FP shareholders unable to participate in the placing.
Y/E Mar | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (fd) (p) | P/E (x) | P/CF (x) |
---|---|---|---|---|---|---|
2022A | 351.2 | N/A | 331.1 | 201.7 | 1.2 | 1.1 |
2023A | (217.4) | N/A | (242.3) | (156.2) | N/A | N/A |
2024E | N/A | N/A | N/A | N/A | N/A | N/A |
2025E | N/A | N/A | N/A | N/A | N/A | N/A |