Impact of COVID-19 Epidemic and National Shutdown

RNS Number : 8992H

Puma VCT 13 PLC

27 March 2020

 

27 March 2020

 Puma VCT 13 plc ("the Company")

Impact of Covid-19 Epidemic and National Shutdown

The Company's Investment Manager has been maintaining close contact with investee companies within the portfolio and offering support and assistance to them in their responses to the national emergency.  These companies have taken measures to preserve their stability.  All are affected but are not to our knowledge in serious difficulties.  They expect to recover when the economy re-opens.

The Company's portfolio of listed equities has suffered from recent stock market falls and is currently showing losses from the portfolio valuation as at 31 January 2020 which was the last date for which a net asset value per share of the Company was published.  If sustained the losses arising from holdings of listed equities would reduce the net asset value of the Company by between 4 and 5 per cent.  Given the high volatility experienced in markets, this impact is likely to vary considerably from day to day.  It is too early to attempt to quantify the impact of the current economic situation on the valuation of holdings of private companies in the qualifying portfolio.

 

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