Interim Management Statement

RNS Number : 8579E

Maven Income and Growth VCT 3 PLC

15 April 2014

 

Maven Income and Growth VCT 3 PLC (the Company)

Interim Management Statement - quarter ended 28 February 2014

This Interim Management Statement, for the quarter ended 28 February 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 March 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  83.42p per share at 28 February 2014, compared to 83.00p per share at 30 November 2013;

·      NAV total return² of 119.87p at 28 February 2014, compared to 119.45p at 30 November 2013; and

·      Proposed final dividend of 3.25p per share in respect of the year ending 30 November 2013, to be paid on 30 May 2014.

¹The NAV is unaudited and reflects the closing bid price of quoted securities at 28 February 2014. Unlisted companies are normally valued on a six-monthly basis and the NAV incorporates the Directors' valuation of unlisted investments as at 30 November 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 28 February 2014, four new investments and one follow-on investment totalling a net amount of £1,772,110 were made in unlisted companies and a total of £1,998,349 was invested in UK Government Securities. In the same period, disposals from three AIM quoted investments generated aggregate proceeds of £223,327 against a cost of £164,236; a total of £953,005 of capital was returned from four unlisted companies and there was a deferred consideration from one unlisted company amounting to £26,860.

3.	Recent developments

Between 1 March 2014 and the date of this Statement, two new investments and three follow-on investments totalling £1,118,142 were made in unlisted companies and a disposal of an unlisted investment generated proceeds of £90,644 against a cost of £171,786. There was also a sale of UK Government Securities realising £999,126 against a cost of £999,174.

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 December 2013 to 28 February 2014, or in the period from 1 March 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

15 April 2014

 

END

 

 

IMSGMGMDLKNGDZG