Interim Management Statement

RNS Number : 8996T

Maven Income and Growth VCT 5 PLC

09 October 2014

 



Maven Income and Growth VCT 5 PLC (the Company)

Interim Management Statement - quarter ended 31 August 2014

This Interim Management Statement, for the quarter ended 31 August 2014, 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 2014 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 40.18p per share at 31 August 2014, after payment of the interim dividend, compared to 42.18p per share at 31 May 2014;

·      NAV total return² of 67.63p at 31 August 2014, compared to 68.83p at 31 May 2014; and

·      Interim dividend of 0.80p per share in respect of the year ending 30 November 2014, paid on 29 August 2014.

¹The NAV is unaudited and reflects the closing bid price of quoted securities at 31 August 2014. Unlisted companies are normally valued on a six-monthly basis and the NAV incorporates the Directors' valuation of unlisted investments as at 31 May 2014, 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 2014, a net amount of £1,559,085 was invested in five unlisted companies and £442,984 was invested in one listed company. In the same period, proceeds of £2,000,000 were realised from the sale of short-dated UK treasury bills; and the realisation of four holdings in unlisted companies generated aggregate proceeds of £697,505 against a cost of £505,291. In addition, the full or partial sale of five AIM quoted investments generated aggregate proceeds of £717,027 against a total cost of £461,986.

3.	Recent developments

Between 1 September 2014 and the date of this Statement, £529,368 was invested in two unlisted companies and a net amount of £1,991,863 was invested in short-dated UK treasury bills. The full or partial disposals of two AIM quoted investments generated proceeds of £505,468 against a cost of £132,024.

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 2014 to 31 August 2014, or in the period from 1 September 2014 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

9 October 2014

 

END

 

 

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