Interim Management Statement

RNS Number : 3543R

Hygea VCT plc

24 October 2013

 



24 October 2013                                                                    

HYGEA VCT PLC

INTERIM MANAGEMENT STATEMENT

Hygea vct plc ('the Company') presents its interim management statement for the period from 1 July 2013 to 24 October 2013. This constitutes the Company's second interim management statement for the financial year ending 31 December 2013, 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 2013 were 102.0p and 8,115,376 respectively (30 June 2013: 112.8p and 8,115,376 respectively).  The net asset value at 30 September 2013 is stated after accruing for the interim dividend of 3p per share payable on 25 October 2013. There were no shares held in Treasury at either date.

No shares have been issued or repurchased during the period.

At 30 September 2013, the Company's assets included its portfolio of unlisted assets along with £382,785 in cash and £6,179,935 in AIM traded shares valued at bid price. The Scancell plc ('Scancell') share price declined from 44.1p at 30 June 2013 to 39.0p at 30 September 2013. This has further fallen to 31.25p at 23 October 2013. As previously reported, 500,000 Scancell shares have been sold during the period realising net proceeds of £246,300 leaving the Company owning 13,349,730 shares.  In view of the significance of the Scancell holding within the portfolio,  readers' attention is drawn to the recording dated 4 October 2013 of Scancell's investor day accessible on www.scancell.co.uk.

During the three months ended 30 September 2013, the Company made a further investment of £100,008 into Eykona Technologies Limited and £200,000 into OR Productivity Limited.

The Directors are not aware of any other events which have taken place between 30 September 2013 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

 

END

 

 

IMSUSVSROUARUAA