|Group — equity investments||2016|
|Cost and net book value at 1 May||6,266||4,068|
|Net book value at 30 April||8,250||6,266|
On 22 February 2016, Consort Medical subscribed to an equity financing completed by Precision Ocular Limited, a retinal therapeutics company. The financing will raise a total of £13.5m, of which Consort's investment is expected to be a total of £3.3m. The first tranche completed during the year was £2.0m, giving the Group a 12.2% shareholding as at 30 April 2016.
The Group has accounted for Precision Ocular as an equity investment.
In January 2015 and April 2015, the Group invested a further £0.9m and £1.3m respectively in Atlas Genetics Limited, a UK-based privately owned healthcare technology company with an ultra-rapid point of care ("POC") diagnostics platform. Bespak undertakes design for manufacture work to prepare disposable test cards that are a core component of the Atlas system and has also been awarded long-term manufacturing rights for the card.
|Cost and net book value at 1 May||303,506||82,091|
|Net book value at 30 April||303,506||303,506|
|Other equity investments|
|Investment in Atlas Genetics Limited||6,266||6,266|
|Investment in Precision Ocular Limited||1,984||–|
|Net book value at 30 April||311,756||309,772|
In November 2014, the Company acquired an investment of £112.8m in relation to the acquisition of Aesica by the Group. Following the reorganisation of the Group as a result of the acquisition, the Company acquired an investment in Bespak Holdings Limited of £108.6m.
|Long-term loans to Group undertakings|
|At 1 May||162,329||48,665|
|Net movement in the year||36,891||113,777|
|Effects of exchange rate changes||–||(113)|
|Net book value at 30 April||199,220||162,329|
Interest is charged on long-term loans to subsidiaries at rates linked to LIBOR.
A list of all of the Company's subsidiaries is included in note 31.