Net Asset Value(s)

RNS Number : 7668F

Unicorn AIM VCT PLC

11 March 2020

 

Unicorn AIM VCT PLC ("the Company")

LEI: 21380057QDV7D34E9870

Net Asset Value

Unicorn AIM VCT PLC announces that the unaudited net asset value per Ordinary 1p share of the Company as at 29 February 2020 was:

At bid price (cum income)

Per Ordinary 1p share  165.7 pence

The Board wishes to report that the Net Asset Value of the Company, as at 29 February 2020, benefited from a further valuation increase of £6.0 million in respect of Interactive Investor in which the Company holds a significant equity stake and which announced an important acquisition during the month. This valuation increase was more than offset however, by a 5.5% decline in the value of the Company's quoted investments, which reflects the steep falls experienced by UK equity markets during February.

In recent days, the Coronavirus outbreak has continued to spread rapidly and is now having an increasingly detrimental impact on global stock markets. The Company's portfolio of quoted investments has not been immune from these declines, and the approximate value of this portfolio has declined by a further 5% since 1 March 2020. It is not possible to predict the scale or duration of the current unsettled market conditions with any accuracy.

In the interests of Shareholders, and in view of the current volatile market conditions, the Board has decided to suspend making market purchases of the Company's shares for the time being. It is anticipated that this suspension will be temporary in nature. The Board plans to reassess the situation at the end of March and will be announcing a valuation as at 20 March 2020 on which the first allotment under the current offer for subscription will be based.

Enquiries:

ISCA Administration Services Limited

01392 487056 

11 March 2020

 

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