Hygea VCT plc : Interim Management Statement

31 October 2014                                                              

HYGEA VCT PLC

INTERIM MANAGEMENT STATEMENT

Hygea vct plc ('the Company') presents its interim management statement for the period from 1 July 2014 to 31 October 2014. This constitutes the Company's second interim management statement for the financial year ending 31 December 2014, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3. This statement has been prepared solely to provide additional information in order to meet the requirements of the Disclosure and Transparency Rules and should not be relied on by shareholders, or any other party, for any other purpose.

The unaudited net asset value per ordinary share and the number of shares in issue at 30 September 2014 were 89.5p and 8,115,376 respectively (30 June 2014: 93.0p and 8,115,376 respectively). The total return (net asset value plus dividends) at 30 September 2014 was 113.75p (30 June 2014: 117.25p). The reduction in net asset value is principally due to the reduction in value of the AIM portfolio. The Company's holding in Scancell Holdings Plc has been valued at the bid price of 30p. Had the holding been valued at the closing bid price on 30 October 2014 of 37.5p the net asset value per share at 30 September 2014 would have been 99.3p. The recent increase in the Scancell share price has occurred since its AGM held on 14 October 2014 - the RIS and presentation relating to which can be found via the Scancell website www.scancell.co.uk.

There were no shares held in Treasury at either date and no shares have been issued or repurchased during the period.

At 30 September 2014, the Company's assets included its portfolio of unlisted assets and £4,895,128 in AIM traded shares valued at bid price. At that date the Company had an overdraft of £34,409. Since 30 September 2014, Axon Limited has not, to date, succeeded in the fund raising referred to in the 2014 interim results and the carrying value at 30 June 2014, which amounted to £28,000, has, therefore, been written off as at 30 September 2014. The Company has made no new investments during the period.

The Directors are not aware of any other events which have taken place between 30 September 2014 and the date of publication of this statement, which have had a material effect on the financial position of the Company.

Enquiries:
James Otter, Hygea vct plc on 01730 829877 or [e-mail]
Charles Breese, Hygea vct plc on 01280 703482 or [e-mail]
Roland Cornish, Beaumont Cornish Limited on 020 7628 3396

website: www.hygeavct.com

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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: Hygea VCT plc via Globenewswire

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