Interim Management Statement

RNS Number : 8076V

Maven Income & Growth VCT PLC

17 January 2013

 



Interim Management Statement

Maven Income and Growth VCT PLC (the Company) - quarter ended 30 November 2012

This Interim Management Statement, for the quarter ended 30 November 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 December 2012 to the date of this announcement. 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 70.0p per share at 30 November 2012, compared to 69.5p per share at 31 August 2012;

·      NAV total return² of 117.6p per share at 30 November 2012, compared to 117.1p per share at 31 August 2012;

·      183,000 Ordinary Shares bought back for cancellation during the quarter; and

·      Interim dividend of 2.0p per share in respect of the year ending 28 February 2013, paid on 7 December 2012.

¹The NAV is unaudited, includes the value of the interim dividend in respect of the year ending 28 February 2013 and reflects the closing bid price of quoted securities as at 30 November 2012. Unlisted companies are normally valued on a six-monthly basis and the NAV incorporates the Directors' valuation of unlisted investments as at 31 August 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 30 November 2012, a total of £87,330 was invested in two unlisted companies. Aggregate proceeds of £1,756,262 were received from the disposal of holdings in six unlisted companies, against a total cost of £1,143,008. 

3.	Recent developments

Between 1 December 2012 and the date of this Statement, investments totalling £2,054,621 were made in six unlisted companies; £3,497,644 was invested in UK government securities; £113,521 of loan notes were repaid by an unlisted company; £64,756 of deferred consideration was received from the previous disposal of an unlisted holding; proceeds of £4,068 were received from the disposal of two AIM holdings against cost of £7,077; and the sale of UK government securities generated proceeds of £4,351,000 against cost of £4,344,841.

Other than as described above and any changes in the value of investments quoted on regulated markets, the Board is not aware of any material events during the period from 1 September 2012 to 30 November 2012, or in the period from 1 December 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

17 January 2013

 

END

 

 

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