Interim Management Statement

RNS Number : 6331U

Close Technology & General VCT PLC

16 May 2008

 



Close Technology & General VCT PLC Interim Management Statement

Introduction

I am pleased to present the Company's interim management statement for the period from 1 January 2008 to 16 May 2008 as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.

Financial Position and Performance 

The Ordinary shares and C shares approximate unaudited net asset value (NAV) as at 31 March 2008 was 110.53 pence and 90.76 pence per share respectively. This is after accounting for a dividend of 4 pence per share for Ordinary shares and 1.5p per share for C shares which is payable on 30 May 2008.

Portfolio

In the period from 1 January 2008 to 16 May 2008 Close Technology & General VCT PLC has made new investments as follows:

Ordinary share portfolio

Investment	Existing/New investee company	£'000s
Opta Sportsdata Limited	New	110
Consolidated Communications Management Limited	Existing	33
Blackbay Limited	Existing	25
Rostima Limited	Existing	11

C share portfolio

Investment	Existing/New investee company	£'000s
Opta Sportsdata Limited	New	515
Rostima Limited	Existing	128
Blackbay Group Limited	Existing	60

Top Ten Qualifying Holdings (as at 31 Mar 2008)

Holding	Carrying Value £'000s
Chichester Holdings Limited	2,254
Kensington Health Club Limited	2,013
Evolutions Television Limited	1,734
Xceleron Limited	1,389
Grosvenor Health Limited	1,351
The Q Garden Company Limited	1,190
The Weybridge Club Limited	1,143
Blackbay Limited	1,072
Churchill Taverns VCT Limited	989
Oxsensis Limited	830

Material Events and Transactions

As mentioned above, a dividend of 4 pence per Ordinary share and 1.5p per C share is payable on 30 May 2008 to shareholders on the record as at 2 May 2008.

In the period from 1 January 2008 to 16 May 2008, your Company re-purchased 172,000 Ordinary shares at a price of 99.5 pence per share and 14,796 C shares at a price of 85 pence per share.  The Ordinary shares purchased represent 0.35% of the total number of voting rights in the Company before the transaction and the C shares purchased represent 0.03% of the total number of voting rights in the Company before the transaction.  These shares will be held in treasury.  Buy-backs of treasury shares during the period were transacted through Winterflood Securities Limited, a subsidiary of Close Brothers Group plc, the ultimate parent company of the Manager.

The Company has offered a Dividend Reinvestment Scheme to existing shareholders on the register at 2 May 2008. Details of this Scheme can be found at www.closeventures.co.uk/Our Funds/Close Technology & General VCT PLC. 

There have been no further significant events or transactions that the Board are aware of which would have a material impact on the financial position of the Company between the 1 January 2008 and 16 May 2008. 

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

16 May 2008

For further information, please contact:

Patrick Reeve

Close Ventures Limited

Tel: [phone]

 

END

 

 

IMSGUUBPAUPRUBQ