Interim Management Statement

RNS Number : 3122H

Close Technology & General VCT PLC

03 November 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 July 2008 to 3 November 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 30 September 2008 was 103.9 pence and 84.4 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 was paid on 3 October 2008.

Portfolio

In the period from 1 July 2008 to 3 November 2008 Close Technology & General VCT PLC has made material new investments as follows:

Ordinary share portfolio

Investment	Existing/New investee company	£'000s
Bravo Inns II Limited	New	155
Prime Care Holdings Limited	New	100
Xceleron Limited	Existing	98
Bravo Inns II Limited	New	60
Red-M Group Limited	Existing	30
GB Pub Company VCT Limited	Existing	18
Vibrant Energy Surveys Limited	Existing	15
Clear Pub Company VCT Limited	Existing	11
Rostima Limited	Existing	3

C share portfolio

Investment	Existing/New investee company	£'000s
Bravo Inns II Limited	New	1,085
Prime Care Holdings Limited	New	350
Xceleron Limited	Existing	118
Vibrant Energy Surveys Limited	Existing	69
Rostima Limited	Existing	36
Clear Pub Company VCT Limited	Existing	33

Top Ten Qualifying Holdings (merged portfolios) as at 30 September 2008

Holding	Carrying Value £'000s
Chichester Holdings Limited	2,229
Evolutions Television Limited	1,796
Kensington Health Clubs Limited	1,759
The Q Garden Company Limited	1,220
The Weybridge Club Limited	1,130
Bravo Inns Limited	1,040
Blackbay Limited	1,026
Peakdale Molecular Limited	1,018
Clear Pub Company VCT Limited	919
Dexela Limited	918

Material Events and Transactions

As mentioned above, a dividend of 4 pence per Ordinary share and 1.5p per C share was paid on 3 October 2008 to shareholders on the record as at 5 September 2008.

In the period from 1 July 2008 to 3 November 2008, your Company re-purchased 193,386 Ordinary shares at a price of 91.5 pence per share and 7,000 C shares at a price of 79 pence per share. 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 continues to offer a Dividend Reinvestment Scheme to existing shareholders. On 3rd October 2008 the Company allotted 27,103 ordinary shares of 50p each and 49,618 C ordinary shares of 50p each in the capital of the Company. The ordinary shares were issued at a price of 106.1p and the C shares were issued at a price of 87.9p. 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 July2008 and 3 November 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.

3 November 2008

For further information, please contact:

Patrick Reeve

Close Ventures Limited

Tel: [phone]

 

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