Interim Management Statement

RNS Number : 7890Q

Maven Income and Growth VCT 3 PLC

17 October 2013

 

Maven Income and Growth VCT 3 PLC (the Company)

Interim Management Statement - quarter ended 31 August 2013

This Interim Management Statement, for the quarter ended 31 August 2013, 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 2013 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 80.95p per share at 31 August 2013, after payment of the interim dividend, compared to 82.60p per share at 31 May 2013;

·      NAV total return² of 117.40p at 31 August 2013, compared to 117.05p at 31 May 2013; and

·      Interim dividend of 2.00p per share in respect of the year ending 30 November 2013, paid on 30 August 2013.

¹The NAV is unaudited and reflects the closing bid price of quoted securities at 31 August 2013. Unlisted companies are normally valued on a six-monthly basis and the NAV incorporates the Directors' valuation of unlisted investments as at 31 May 2013, 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 2013, six new and four follow-on investments totalling a net amount of £3,635,284 were made in unlisted companies. In the same period, disposals from three unlisted company investments generated aggregate proceeds of £375,726 against a cost of £508,491; disposals of four AIM quoted investments generated aggregate proceeds of £173,247 against a cost of £269,513; and proceeds of £1,249,942 were realised from the sale of UK Government Securities.

3.	Recent developments

Between 1 September 2013 and the date of this Statement, two follow-on investments in unlisted companies totalling £86,952 were made and the disposal of an AIM quoted investment generated proceeds of £37,181 against a cost of £33,804. There was also a return of capital of £360,000 from an unlisted company investment.

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 2013 to 31 August 2013, or in the period from 1 September 2013 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

17 October 2013

 

END

 

 

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