Interim Management Statement

RNS Number : 5879B

Maven Income and Growth VCT 5 PLC

18 April 2012

 



Interim Management Statement

Maven Income and Growth VCT 5 PLC (the Company) - quarter ended 29 February 2012

This Interim Management Statement, for the quarter ended 29 February 2012, is provided in accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority and also includes relevant information in respect of the period from 1 March 2012 to the date of issue. This Statement has been prepared solely to provide additional information in order to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules, and should not be relied on by Shareholders, or any other party, for any other purpose.

1.	Financial highlights

·      Net Asset Value (NAV)¹ of 32.7p per share at 29 February 2012, compared to 30.24p per share at 30 November 2011;

·      NAV total return² of 54.7p at 29 February 2012, compared to 52.24p at 30 November 2011; and

·      Final dividend of 1.0p per share in respect of the year ended 30 November 2011 to be paid on 27 April 2012.

¹The NAV is unaudited and reflects the closing bid price of quoted securities at 29 February 2012. Unlisted companies are normally valued on a six-monthly basis and the NAV incorporates the Directors' valuation of unlisted investments as at 30 November 2011, adjusted for subsequent events where appropriate.

²NAV total return is the sum of NAV per share and dividends paid per share since launch.

2.	Investments and disposals

During the quarter ended 29 February 2012, £249,000 was invested in one private company and £799,000 of available cash was invested in short-dated UK government securities.

3.	Recent developments

Between 1 March 2012 and the date of this Statement a total of £562,000 was invested in two private companies; £44,000 of loan stock was repaid at par by an unlisted company; and the disposal of shares in nine AIM quoted companies realised aggregate proceeds of £883,000 against cost of £874,000. In addition, the sale of short-dated UK government securities increased the Company's cash balance by £197,000.

            The Directors confirm their intention to propose an enhanced share buy-back scheme, with details to be provided in a Circular to be sent to Shareholders as soon as practicable.

Other than as described above and changes in the value of investments quoted on regulated markets, the Board is not aware of any events during the period from 1 December 2011 to 29 February 2012, or in the period from 1 March 2012 to the date of this announcement, which would have had a material impact on the financial position of the Company.

Issued on behalf of the Board

Maven Capital Partners UK LLP

Secretary

18 April 2012

 

END

 

 

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