Interim Management Statement

RNS Number : 1465P

Maven Income and Growth VCT 5 PLC

19 October 2012

 



Interim Management Statement

Maven Income and Growth VCT 5 PLC (the Company) - quarter ended 31 August 2012

This Interim Management Statement, for the quarter ended 31 August 2012, is provided in accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority and also includes relevant information in respect of the period from 1 September 2012 to the date of issue. This Statement has been prepared solely to provide additional information in order to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules, and should not be relied on by Shareholders, or any other party, for any other purpose.

1.	Financial highlights

·      Net asset value (NAV)¹ of 32.62p per share at 31 August 2012, after payment of the interim dividend, compared to 31.46p per share at 31 May 2012;

·      NAV total return² of 56.12p at 31 August 2012, compared to 54.46p at 31 May 2012; and

·      Interim dividend of 0.5p per share in respect of the year ending 30 November 2012 paid on 31 August 2012.

¹The NAV is unaudited and reflects the closing bid price of quoted securities at 31 August 2012. Unlisted companies are normally valued on a six-monthly basis and the NAV incorporates the Directors' valuation of unlisted investments as at 31 May 2012, adjusted for subsequent events where appropriate.

²NAV total return is the sum of NAV per share and dividends paid per share since launch.

2.	Investments and disposals

During the quarter ended 31 August 2012, a total of £434,079 was invested in three unlisted companies. In the same period, the full or partial disposals of two AIM quoted investments generated aggregate proceeds of £117,262 against a total cost of £53,140 and the disposal of the unlisted holding in Infrared Integrated Systems realised proceeds of £1,238,385 against cost of £499,995. In addition, a net amount of £714,495 was invested in short-dated UK treasury bills.

3.	Recent developments

Between 1 September 2012 and the date of this Statement, the full or partial disposals of seven AIM quoted investments generated proceeds of £690,148 against a cost of £397,078 and proceeds of £499,639 were realised from the disposal of short-dated UK treasury bills.

As announced on 16 October 2012, valid applications in respect of the Enhanced Buyback Scheme have been accepted in full, with there having been no scaling back of applications. The Company purchased 6,461,699 Ordinary Shares at a price of 33.1p share and allotted 6,253,670 Ordinary Shares at 34.2p per share, and as a result, now has 59,069,108 Ordinary Shares in issue.

Other than as described above, and changes in the value of investments quoted on regulated markets, the Board is not aware of any material events during the period from 1 June 2012 to 31 August 2012, or in the period from 1 September 2012 to the date of this announcement, which would have had a material impact on the financial position of the Company.

Issued on behalf of the Board

Maven Capital Partners UK LLP

Secretary

19 October 2012

 

END

 

 

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