Interim Management Statement

RNS Number : 0054G

Maven Income and Growth VCT 3 PLC

05 May 2011

 



Maven Income and Growth VCT 3 PLC

Interim Management Statement

1.         Net Asset Value

The Ordinary share NAV Total Return was 103.4p and the NAV was 80.94p as at 28 February 2011 (100.4p and 77.95p at 30 November 2010).

The NAV shown above is unaudited and reflects the closing bid prices of quoted securities at 28 February 2011. Unlisted companies are normally valued on a six-monthly basis and the NAVs include the Directors' valuations of unlisted investments as at 30 November 2010 adjusted for material developments within the portfolios since that date.  

2.         Investments and disposals

During the quarter ended 28 February 2011, three new and four follow-on investments totalling £1,203,000 were made in seven unquoted companies. During the same period, a combination of partial and complete disposals of four investments generated aggregate proceeds of £161,962 compared with cost of £168,213.

There were no other material transactions during the period under review. 

3.         Recent developments

Since 28 February 2011, one further new investment and three follow-on investments have been made, totalling £585,000. Further disposals realised a total of £290,507 compared with cost of £232,924.

As previously announced, 1,512,311 Ordinary shares have been allotted at 79.8p per share in respect of subscriptions under the Maven Income and Growth Linked Offer.

The Board is not aware of any other events or transactions that have taken place between 28 February 2011 and the date of publication of this statement and 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

5 May 2011

 

END

 

 

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