Results of AGM and IMS to 31

RNS Number : 5023L

Hygea VCT plc

07 May 2010

 



FOR IMMEDIATE RELEASE                                                7.00A.M 7 MAY 2010

HYGEA VCT PLC

RESULT OF AGM AND INTERIM MANAGEMENT STATEMENT

FOR THE QUARTER ENDED 31 MARCH 2010

Hygea Vct plc ('the Company') announces that at its annual general meeting held on 6^th May 2010 the following resolutions were passed. The proxy votes cast were as set out beside each resolution:-

                                                                             For              Against            Withheld

1. Adoption of the annual accounts.                   1,121,038                    0                      0

2. Adoption of Remuneration Report.                1,095,782          22,256               3,000

3. Approval of final dividend.                            1,121,038                    0                      0

4. Re-election of James Otter.                           1,106,038                    0             15,000

5. Re-appointment of auditors   .                       1,097,038           11,000             13,000

6. Remuneration of auditors.                             1,100,888           20,150                      0

7. Authority to allot 811,537 shares.                 1,090,038           28,000               3,000

8. Disapplication of s561.                                 1,040,843           61,195             19,000

The Company presents its interim management statement for the quarter ended 31 March 2010. This constitutes the Company's first interim management statement for the financial year ending 31 December 2010, 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 31 March 2010 were 80.3p and 8,115,376 respectively (31 December 2009: 91.2p and 8,115,376 respectively).  There were no shares held in Treasury at either date. No shares have been issued or repurchased during the period.

During the three months ended 31 March 2010 the Company made new investments in Quotient Diagnostics Limited (£200,000), Exosect Limited (£250,000), ReNeuron Group plc (£50,000) and Eykona Technologies Limited (£60,000) and further investments into Freehand Surgical Limited (£50,000), Glide Pharmaceutical Technologies Limited (£100,400), ImmunoBiology Limited (£218,000), Scancell plc (£300,000) and Hallmarq Veterinary Imaging Limited (£231,000).

The Directors have proposed a final dividend of 5.0p per ordinary share which was approved at the Annual General Meeting and is payable on 2 July 2010 to shareholders on the register on 4 June 2010.

Net asset value has reduced from 31 December 2009 predominantly due to the payment of the interim dividend of 10p per share on 5 March 2010. Net expenditure in the period and a reduction in the quoted value of Scancell plc shares to the price of the new issue of shares were responsible for the remainder of the reduction in net asset value per share. The Directors are pleased to confirm that, following the payment of the interim dividend and the investments referred to above, the Company has the required percentage of qualifying investments.

The Directors are not aware of any events which have taken place between 31 March 2010 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 - [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

7 May 2010.

 

END

 

 

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