Elderstreet VCT plc : Dividend Declaration

Elderstreet VCT plc
26 June 2014
Dividend Declaration

The Board of Elderstreet VCT plc is delighted to announce that, following the successful sale of Wessex Advanced Switching Products ("WASP"), the Company will pay an additional dividend ("Special Dividend") of 15 pence per share, representing just over £4.5 million pounds. The Special Dividend will be paid on 19 September 2014, to Shareholders on the register at 29 August 2014, and will be in addition to the final dividend of 2 pence per share which will be paid to Shareholders on the 30 June 2014 in relation to the year ending 31 December 2013.

In conjunction with the Special Dividend, the Company will also offer a dividend re-investment option for those Shareholders who wish to receive further shares in the VCT instead of a cash payment. A circular will be sent to all Shareholders in the next three to four weeks with details of the dividend re-investment and the options available.  

The WASP investment was made in 1999. Since then the WASP has grown and broadened its revenue base in the aviation and military sectors. The WASP exit represents a substantial increase over cost and equates to an IRR of over 30%. Your Board is confident that the Company continues to hold a good quality portfolio that has the potential to deliver further value for Shareholders over the coming years.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Elderstreet VCT plc via Globenewswire

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