Guinness Asset Management and Enterprise Investment Partners – Manager updates 25 July 2016

Date26 Jul 2016

Next company exit for any Kuber clients will be end of 2017
AIM 2015-2016 EIS5 certs are anticipated to be available end of August/beginning of September 2016
H14 EIS3 certs are due to arrive with Kuber this week
Next BPR draw-down will be September 2016

Imbiba
- Share issue due next week
- Followed by regular draw-downs on an approx 6-weekly basis
- Imbiba opportunities are all focused in London presently but there is potential to expand this
- Currently there are two underlying companies – Ruth & Robinson and Caspar & Cole. Both of these must invest into approx. 6-10 opportunities so despite small-ish sounding portfolio of 2 companies it actually has the potential for up to 12-20 investee positions
- Ruth & Robinson and Caspar & Cole both due to open first sites in Hackney and Soho respectively in Autumn 2016
- Both have already started trading so certs should be used before end of 2016/tax year end
- There will be opportunities to top up these investments at a share premium likely before TYE.
Titan
- Sidcup site (Kent, near Bromley) focus of current fundraising
- Draw-down likely to occur within next few weeks
- Profitability occurs when 45% capacity of storage site reached – aimed at between 12-18 months. Prime occupancy is 80% – probably achieved within 2-2 ½ years