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Rensburg AIM VCTPlc (RSB)

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Thursday 17 January, 2013

Rensburg AIM VCTPlc

Interim Management Statement

RNS Number : 8080V
Rensburg AIM VCT Plc
17 January 2013
 

RENSBURG AIM VCT PLC

 

Interim Management Statement and Special Dividend

 

Introduction

 

Rensburg Aim VCT plc ('the Company'), the venture capital trust that specialises in investing in companies whose shares are traded on the Alternative Investment Market of the London Stock Exchange ('AIM'), today announces its interim management statement in respect of the period from 1 September 2012 to 16 January 2013 ('the Period').

 

The unaudited net asset value ('NAV') per ordinary share as at 31 December 2012 was 44.65 pence per share (unaudited 31 August 2012 NAV: 42.30 pence per share).  During December 2012 the Company paid an interim dividend of 1.50 pence per share.  After adjusting for dividends paid, the NAV increased by 9.1% between 1 September 2012 and 31 December 2012.  Our performance benchmarks, the Total Return FTSE AIM All-Share and Total Return FTSE 100 indices increased by 4.2% and 4.1% respectively between 1 September 2012 and 31 December 2012.

 

Qualifying Investments

 

During the period, the Company realised proceeds of £764,000 from qualifying investments resulting in a gain of £169,000 over historic cost. It did not make any new qualifying investments. The Company has also committed to sell its holding in Tikit Group plc for proceeds of £915,000 which will realise a gain over historic cost of £610,000.

 

Special Dividend

 

In light of the above qualifying investment realisations, the Company intends to pay a special dividend of 2.00 pence per share. The dividend payment will be payable on 26 February 2013 to shareholders on the register at 8 February 2013.

 

Including the current proposed special dividend, the Company will have distributed a total of 54.25 pence per share since it was established.

 

Share capital and share buy-backs

 

The number of ordinary shares in issue at 16 January 2013 was 39,655,771 (31 August 2012: 39,755,771). No shares were issued and 100,000 shares were bought back for cancellation during the period for a consideration of £40,000.

 

Share price

 

On 16 January 2013 the Company's closing middle share price was 41.0 pence per share (31 August 2012: 37.5 pence). At 31 December 2012 the discount between the then closing middle share price of 40.0 pence and NAV per share was 10% (31 August 2012: 11% discount to the NAV per share at that date).

 

Information

 

Publicly available information including our annual and half-yearly financial statements, latest NAV, share price and dividend history is available on our website at www.rensburgaimvct.co.uk.

 

Richard Battersby

Chairman

 

For further information please contact:

 

Barry Anysz

Director

0113 245 4488


This information is provided by RNS
The company news service from the London Stock Exchange
 
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