Interim Management Statement

RNS Number : 4190B

Close Enterprise VCT PLC

15 August 2008

 



Interim Management Statement

Introduction

I present herewith the interim management statement for the period from 1 April to 15 August 2008.

Performance and dividends

The Company's approximate unaudited net asset value (NAV) as at 30 June 2008 was £28.5 million or 94.0 pence per share. This is before accounting for the first dividend for the year to 31 March 2008 of 0.4 pence per share (to be paid on 15 August 2008 to shareholders on the register at 18 July 2008). This dividend will be paid to shareholders who subscribed in the 2006/2007 offer only.  The net asset value has remained broadly unchanged compared to the net asset value at 31 March 2008 of £18.6 million or 94.0 pence per share.

Significant events

The Further Offer for subscription closed on 4 April 2008 and an additional 10,567,738 shares were issued at a price of 100p per share.

The following investments have been made during the period from 1 April 2008 to 15 August 2008:

Name	£000's
Vibrant Energy Surveys Limited (new investment)	378	Energy performance certificate provider
Dexela Limited (new investment)	430	Medical imaging technology for early detection of breast cancer
4% Treasury stock 2009	11,950	Treasury gilt
Bank of Nova Scotia Floating rate note (22/09/2010)	2,186	Floating interest rate note held with Bank of Nova Scotia
Barclays Bank Floating rate note (02/07/2010)	2,277	Floating interest rate note held with Barclays Bank
Bank of Scotland Floating rate note (17/12/2009)	447	Floating interest rate note held with Bank of Scotland
Nationwide Floating rate note (07/06/2010)	367	Floating interest rate note held with Nationwide Building Society

Top ten holdings (as at 30 June 2008)

Investee Company	Carrying/fair value £000's
4% Treasury stock 2009	11,913
Barclays Bank Floating rate note (02/07/2010)	2,265
Bank of Nova Scotia Floating rate note (22/09/2010)	2,187
Nationwide Floating rate note (07/06/2010)	1,468
Bravo Inns Limited	551
Bank of Scotland Floating rate note (17/12/2009)	447
Oxsensis Limited	380
Vibrant Energy Limited	378
Nationwide Floating rate note (07/06/2010)	367
Mi-Pay Limited	340

Information regarding historic and current financial performance and other useful shareholder information can be found on the Fund's website under www.closeventures.co.uk /Our Funds/Close Enterprise VCT PLC.

Maxwell Packe, Chairman

15 August 2008

For further information please contact:

Patrick Reeve, Close Ventures Limited - tel: [phone] 

 

END

 

 

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