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(OCL) Oakley Capital Investments Share Chat

Discussion in 'General Share (OCL)' started by Mongoose82, Jun 10, 2016.

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  1. Mongoose82

    Mongoose82 A Legendary Member

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    Liberum's note out this morning:

    https://www.research-tree.com/company/BMG670131058

    "Oakley's largest underlying portfolio company, Time Out Group, yesterday announced the successful completion of its IPO. £90m has been raised for Time Out Group and the IPO price implies a market cap of £195m. £92m is attributable to Oakley Capital Investments (the listed fund) which represents 24% of NAV. We calculate the transaction will add £3m (1.7p per share) to Oakley's NAV which represents a 0.9% uplift."
     
  2. SophieR

    SophieR Member

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    Also invested in Time Out are Woodford and Invesco (Woodford's formal employer) :

    After Admission (IPO):

    TO (Bermuda) Limited 28.6%
    Oakley Capital Investments Limited 24.2%
    Woodford Investment Management LLP 15.4%
    Invesco Asset Management Limited 11.8%
    Insight Investment Management (Global) Limited 6.7%
    TONY (Bermuda) Limited 6.3%

    Time Out IPO on 14 June @ issue Price of 150 (a good one to pick up few shares).

    Regards
    SR
     
  3. bentley15

    bentley15 Demi God of BlueShare

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    Thanks to you both SophieR and Mongoose ! this is now on my radar screen.

    It is clear that on Tuesday ( in my understanding ) next shares will/or maybe on sale on the Aim market - give a day or so after that. Mmm OK so is this particular thread to be named (OCL) Oakley Capital Investments OR Time Out when it is given it's identification tag ?? e.g. (TOG). Has it already got a three letter name already or must we wait ? Sophie how do you describe what (OCL) or (WTG) is ? one word - insignia ?

    Thanks both Bentley
     
    SophieR likes this.
  4. Groucho

    Groucho Member

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    13DF269E-A9BB-4F17-B465-458EF284044C.jpeg
     
    Last edited: Mar 11, 2021
  5. Groucho

    Groucho Member

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  6. Groucho

    Groucho Member

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    23 February 2021

    Oakley Capital Investments Limited


    Notice of Results and Investor Presentation


    Oakley Capital Investments Limited1, a listed investment company that provides access to market leading private equity returns by investing in the funds managed by Oakley Capital2, will announce its results for the year ended 31 December 2020 on Thursday 11 March 2021.

    A live presentation of the results, delivered by Oakley Capital Partner Steven Tredget, will be broadcast online on Tuesday 16 March 2021 at 12:00pm GMT.

    The interactive event, including Q&A, will be available free via the Investor Meet Company platform. Register to join the event at:

    https://www.investormeetcompany.com/oakley-capital-investments-limited/register-investor
     
  7. Groucho

    Groucho Member

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    11 March 2021


    Oakley Capital Investments Limited


    Final Results for the Year Ended 31 December 2020


    Oakley Capital Investments Limited1 (the "Company" or "OCI"), a listed investment vehicle providing consistent long-term returns in excess of the FTSE All-Share Index by investing in the funds managed by Oakley Capital2("Oakley"), today announces its final results for the year ended 31 December 2020.

    The Oakley Funds3 are private equity portfolios that invest primarily in digitally-focused businesses across Western Europe in three core sectors: Technology, Consumer and Education. Value creation is achieved through market growth, consolidation and performance improvement.

    Portfolio strength delivers sustainable growth


    FINANCIAL HIGHLIGHTS

    ● Net Asset Value ("NAV") per share of 403 pence and NAV of £728 million

    ● Total NAV return of 18%

    ● The Company invested £152 million and received proceeds of £341 million

    ● Year-end cash of £223 million

    ● Outstanding commitments to the Oakley Funds of £534 million, including the Origin Fund commitment

    ● Total Origin Fund commitment of £116 million

    ● Buy-back and cancellation of 18 million shares

    ● Full-year dividend of 2.25 pence per share, to be paid on 15 April 2021 to shareholders on the register on or before 26 March 2021


    PORTFOLIO HIGHLIGHTS

    ● 10 of 17 portfolio companies met or exceeded their pre-COVID budgets

    ● 70% of portfolio companies deliver their products or services digitally

    ● Average portfolio company year-on-year EBITDA growth of 20%

    ● Average portfolio company valuation multiple (EV/EBITDA) of 11.8x and average net debt to EBITDA ratio of 3.9x

    ● The key drivers of NAV movement in the period were Career Partner Group (+34 pence), Inspired (+10 pence), Casa (+10 pence) and Time Out (-30 pence)


    PROCEEDS

    ● OCI's share of proceeds from exits and refinancings was £341 million during the period

    ● Realisations included Fund III's exits of WebPros and Casa, as well as the partial realisation of atHome, along with Fund II's exit of Inspired, and the realisation of OCI's direct holding in Inspired

    ● Refinancings included Career Partner Group, Wishcard Technologies Group and Facile

    ● Direct debt repayment of Time Out loans and fund facilities


    INVESTMENTS

    ● OCI made a total look-through investment of £152 million during the period

    ● Activity included the acquisitions of WebPros (Fund IV), Globe-Trotter (Fund III), 7NXT (Origin Fund) and WindStar Medical (Fund IV)

    ● OCI also continued its ongoing share buy-back programme, completing the buy-back and cancellation of 18 million shares at an average price of 230 pence per share, enhancing NAV per share by 12.6 pence


    CASH & COMMITMENTS

    ● OCI had no leverage and had cash on the balance sheet of £223 million at 31 December 2020, representing 31% of NAV

    ● Outstanding commitments to the Oakley Funds of £534 million (73% of NAV), including OCI's commitment to the newly launched Origin Fund


    OUTLOOK

    ● Activity levels have remained high so far in 2021 with the completion of two new investments (idealista & Dexters), the agreed sale of Daisy's Digital Wholesale Solutions division and a further refinancing of Career Partner Group

    ● Strength of the tech-focused portfolio continues, as digital tools become increasingly popular B2C and B2B solutions

    ● A current strong pipeline of investment prospects demonstrates the repeatability of Oakley's unique sourcing model, which allows Oakley to continue to uncover attractive, often proprietary opportunities

    ● OCI's high cash levels will allow it to meet its commitments to theOakley Funds as they deploy capital during a period of significant opportunity


    The Annual Report and Accounts are available on the Company's website:
    https://oakleycapitalinvestments.com/investor-centre/publications/


    A summary of 2020, including a video overview of the performance in the year, is also available here:
    https://oakleycapitalinvestments.com/2020-annual-report/


    Caroline Foulger, Chair of Oakley Capital Investments Limited, commented:

    "In a year of significant disruption, it is testament to the strength of OCI's proposition that, despite unprecedented global events, its value has grown materially over the last year. This strength has been underpinned by the quality of the portfolio companies whose earnings grew at an average 20%; the support and leadership that Oakley Capital and investee company management have shown throughout the pandemic; and the value-enhancing measures taken in the year.

    It has been positive to see OCI continuing to facilitate private investor access to the strong returns that are possible from investing in high-quality private companies such as those in the Oakley portfolio."


    Peter Dubens, Managing Partner of Oakley Capital Limited, commented:

    "2020 posed unforeseen challenges for all our investee companies, however our focus on businesses that provide technology-led solutions served us well, with the majority of the portfolio performing as expected over the year.

    As we evaluate an increasing pool of opportunities, the most important feature is the entrepreneurs or management teams behind them. Since Oakley's inception the common thread of investment success has been the individuals that we have backed, in some cases on numerous occasions. We are grateful for their skill in navigating through the pandemic and for the education and inspiration they continue to provide."
     
  8. Groucho

    Groucho Member

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    28 July 2021

    Oakley Capital Investments Limited


    Trading Update for the Six Months ended 30 June 2021


    Portfolio strength drives 11% NAV uplift


    Oakley Capital Investments Limited1 ("OCI" or the "Company"), a listed investment company providing investors access to the Oakley Funds2, today announces a trading update for the six months ended 30 June 2021.


    Highlights for the period

    ● Net Asset Value ("NAV") per share of 445 pence

    ● Total NAV return per share of 11% since 31 December 2020

    ● The Company invested £95 million and its share of proceeds was £51 million

    ● Cash of £172 million at 30 June 2021

    ● Outstanding Oakley Fund commitments of £438 million


    NAV growth

    The Company's unaudited NAV at 30 June 2021 was £804 million, which represents a NAV per share of 445 pence, based on portfolio company valuations at the half-year. The total NAV per share return including dividends is 11% (+45 pence) since 31 December 2020 and 26% (+94 pence) since 30 June 2020.

    Portfolio company performance

    During the period, the Oakley Funds sustained their pattern of solid performance and EBITDA growth. While the impact of the COVID pandemic continues, the portfolio has continued to benefit from an investment focus on technology-enabled businesses. Of the current portfolio, 14 companies accounting for 52% of NAV* grew their revenues at or above expectations in the period. Four companies accounting for 14% of NAV* have seen a modest COVID impact on financial performance. Meanwhile, three companies accounting for 29% of NAV* continue to be significantly impacted by ongoing, Europe-wide COVID-related restrictions.

    * Percentages shown are OCI's look-through exposure to the portfolio companies via the Funds and direct investments.

    Proceeds

    The Company's share of proceeds from divestments, refinancings and repayment of loans amounted to £51 million, consisting of the refinancing of IU Group, the repayment of the Daisy loan and the exit of Fund II's stake in the Digital Wholesale Solutions division of portfolio company Daisy Group.

    Investments

    In the trading period, the Investment Adviser3 continued to originate proprietary opportunities for the Oakley Funds within its focus sectors, namely Technology, Consumer and Education. During the period, OCI made a total look-through investment of £95 million which, aside from some minor follow-on investments, was attributable to the acquisition of four new platform investments: idealista (Fund IV), Dexters (Fund IV), ICP Education (Fund IV) and ECOMMERCE ONE (Origin Fund).

    Cash & commitments

    ● Balance sheet - OCI has no leverage and had cash on the balance sheet of £172 million at 30 June 2021, comprising 21% of NAV

    ● Recent commitments - OCI's total commitment to the Oakley Capital Origin Fund, which closed in January 2021, was €129 (£111) million

    ● Total outstanding commitments - outstanding Oakley Fund commitments are £438 million


    Post-balance sheet events

    ● Exit and follow-on investment - Fund III sold its stake in ACE Education ("ACE") to Groupe Amaury with its share of proceeds being £16 million. As part of the transaction, the Origin Fund invested in ACE alongside Groupe Amaury. OCI's indirect contribution via the Origin Fund was £10 million


    The Company expects to report its unaudited interim results for 2021 on Thursday 9 September 2021.

    A live presentation of the trading update, delivered by Oakley Capital Partner Steven Tredget, will be broadcast online on Thursday 29 July 2021 at 12:00pm BST.

    The interactive event will be available free via the Investor Meet Company platform. Register to join the event at:https://www.investormeetcompany.com/oakley-capital-investments-limited/register-investor
     
  9. Groucho

    Groucho Member

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    29 July 2021

    Oakley Capital Investments Limited


    Share Buy-Back Programme


    Oakley Capital Investments Limited1(the "Company") announces that the Board has authorised a buy-back programme of up to 2.0 million ordinary shares of £0.01 each in the capital of the Company ("Ordinary Shares").

    Shareholders should be aware that a repurchase of Ordinary Shares on any trading day may represent a significant proportion of the daily trading volume in the Ordinary Shares and could exceed 25 per cent of the average daily trading volume of the preceding 20 business days.

    The Company has 180,559,936Ordinary Shares in issue and admitted to trading on the Specialist Fund Segment of the London Stock Exchange with no Ordinary Shares held in treasury. Ordinary Shares purchased by the Company will be cancelled.
     
  10. Groucho

    Groucho Member

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    14 September 2021


    Oakley Capital Investments Limited

    Oakley Capital Investments Limited1 ("OCI") is pleased to announce that Oakley Capital Origin Fund2 ("Origin Fund") has reached an agreement to acquire Seedtag, a leader in contextual advertising in EMEA and Latin America.

    OCI's indirect contribution via the Origin Fund will be £7 million.

    Note that the above figure only relates to OCI's share of Origin Fund's overall investment in Seedtag.

    OCI's liquid resources available for future deployment (including this transaction) are estimated to be £152 million.

    Further details on the transaction can be found in the below announcement from Oakley Capital3.


    Oakley Capital invests in contextual advertising leader Seedtag

    Seedtag is a leader in the $4.5bn contextual advertising market which is expected to experience double-digit growth to 2025

    Seedtag combines best-in-class technology and strong partnerships with leading brands and premium publishers

    Funding will support expansion into the US and investments in technology and product

    Oakley Capital is pleased to announce that Oakley Capital Origin Fund ("Origin Fund") is investing $35 million to acquire a minority stake in Seedtag, a leader in contextual advertising in EMEA and Latin America.

    Founded in Madrid in 2014, Seedtag helps brands and agencies to deliver digital advertising that is directly relevant to the content that readers are consuming. Oakley's investment will support the Company's expansion into the US and fund further investment in its contextual AI technology at a time of profound change for the advertising industry.

    Over the coming years, the increasing importance of consumer privacy and GDPR rules is expected to drive a shift away from third-party cookies, and advertisers will no longer be able to reach target audiences by leveraging user browsing history. As a result, brands and agencies are searching for reliable alternatives that help them to understand consumer interests while targeting priority audiences.

    Seedtag's proprietary software does not rely on the use of cookies and so is best positioned to provide a deep understanding of consumer interests, build a contextual strategy that is based on data and gather a range of insights that can help brands to market themselves more effectively. The Company's machine learning engine was developed in-house and can analyse 10,000 articles a minute, providing human-like understanding of text and images.

    Seedtag has expanded rapidly across Europe and Latin America thanks to its best-in-class technology, differentiated product offering, and strong relationships, with revenues forecast to increase 60% this year to $80m. The Company's clients include blue chip brands such as Universal and Adidas, as well as agencies such as WPP and Havas. Seedtag also partners with premium publishers including the FT, The Guardian, and Sky that reach a combined audience of over 500 million unique users.

    The partnership developed out of a long-standing relationship between Oakley partners and Seedtag's founders, who were attracted to Oakley's deep media expertise and strong track record in growing digital businesses organically, via M&A and across international markets.

    Origin's investment in Seedtag continues Oakley's successful track record in backing digital businesses in the B2B space. Earlier this year, Origin invested in ECOMMERCE ONE, a leading provider of ecommerce software in the DACH region. Other similar investments by Oakley include leading global web hosting software provider WebPros, and ERP software providers Ekon and PRIMAVERA (both combined to create Grupo Primavera).


    Peter Dubens, Managing Partner of Oakley Capital, commented:

    "Oakley's investment in Seedtag demonstrates our continuing ability to source proprietary deals from across our network and in attractive sectors. An increasing focus on consumer privacy and brand safety is driving growth in contextual advertising, and we believe Seedtag is well-placed to harness this exciting opportunity thanks to a combination of best-in-class technology, strong commercial relationships and an impressive management team."


    Albert Nieto, co-CEO of Seedtag, commented:

    "Oakley's investment and expertise will support our strategy to develop Seedtag into a worldwide leader in contextual advertising. We look forward to offering US brands, agencies and publishers our contextual solutions as we expand into new markets."


    Jorge Poyatos, co-CEO of Seedtag, commented:

    "Oakley's deep expertise and strong track record in growth, technology and media make them the best partner to support the development and rollout of Seedtag's AI technology on a global scale. Together we are fully committed to offering best-in-class advertising solutions in a privacy-first world."
     

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