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Oakley Capital Investments Ltd on Wednesday reported ‘broadly flat’ valuations and appointed two new members to its board, including a new chair designate.
OCI provides exposure to the education, technology, consumer and business service sectors by investing in the funds of Oakley Capital Ltd.
Pembroke, Bermuda-domiciled OCI said net asset value per share was 730 pence at the end of September, up 5.3% from 693p a year earlier. Total NAV stood at £1.25 billion compared to £1.22 billion on-year.
For the three months that ended September 30, total return per share declined 1.5%.
OCI said that ten valuations rose, ten declined and fifteen did not materially change from the companies in its main buyout funds.
During the period, OCI reported look-through investments totalling £56 million.
The firm added: ‘Whilst retaining a cautious view on valuation multiples, trading performance continued to be robust in the quarter, demonstrating the portfolio’s ability to deliver sustainable earnings growth through a variety of market and macroeconomic environments.’
OCI also announced Wednesday the appointment of Christopher Samuel and Kiernan Bell as independent non-executive directors, effective November 17.
Christopher Samuel will become chair of the board in March 2026 after a planned transition period.
Both appointments are subject to shareholder approval at the company’s 2026 annual general meeting.
Scottish Mortgage Investment Trust PLC noted the appointment of Samuel, who is a non-executive chairman at the company, to OCI’s board.
Steve Pearce, interim chair of OCI, said: ‘We welcome Christopher and Kiernan to our board. Christopher brings deep industry expertise and a thoughtful, strategic approach to leadership, which will be a great asset to OCI.
‘The transition period ahead of him becoming chair in March will allow for a smooth handover and full engagement with stakeholders as we plan for OCI’s next phase of growth. Kiernan also brings considerable expertise; her extensive board experience and legal insight will further enhance the strength and depth of the board,’ Pearce added.
Samuel said: ‘While the recent move to the Main Market and inclusion in the FTSE 250 reflect a clear strategic ambition to broaden investor access and enhance market visibility, the board remains rightly focused on addressing the long-term discount to NAV at which the shares trade. I look forward to working with the board as we explore various strategies to improve OCI’s rating, and drive shareholder returns.’
Shares in OCI rose 0.5% to 562.83 pence on Wednesday morning in London.
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