Interim Management Statement

RNS Number : 6331U
Close Technology & General VCT PLC
16 May 2008
 



Close Technology & General VCT PLC Interim Management Statement


Introduction

I am pleased to present the Company's interim management statement for the period from 1 January 2008 to 16 May 2008 as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.


Financial Position and Performance 

The Ordinary shares and C shares approximate unaudited net asset value (NAV) as at 31 March 2008 was 110.53 pence and 90.76 pence per share respectively. This is after accounting for a dividend of 4 pence per share for Ordinary shares and 1.5p per share for C shares which is payable on 30 May 2008.


Portfolio

In the period from 1 January 2008 to 16 May 2008 Close Technology & General VCT PLC has made new investments as follows:


Ordinary share portfolio


Investment

Existing/New investee company

£'000s

Opta Sportsdata Limited

New

110

Consolidated Communications Management Limited

Existing

33

Blackbay Limited

Existing

25

Rostima Limited

Existing

11


C share portfolio


Investment

Existing/New investee company

£'000s

Opta Sportsdata Limited

New

515

Rostima Limited

Existing

128

Blackbay Group Limited

Existing

60



Top Ten Qualifying Holdings (as at 31 Mar 2008)

Holding

Carrying Value £'000s

Chichester Holdings Limited

2,254

Kensington Health Club Limited

2,013

Evolutions Television Limited

1,734

Xceleron Limited

1,389

Grosvenor Health Limited

1,351

The Q Garden Company Limited

1,190

The Weybridge Club Limited

1,143

Blackbay Limited

1,072

Churchill Taverns VCT Limited

989

Oxsensis Limited

830



Material Events and Transactions

As mentioned above, a dividend of 4 pence per Ordinary share and 1.5p per C share is payable on 30 May 2008 to shareholders on the record as at 2 May 2008.


In the period from 1 January 2008 to 16 May 2008, your Company re-purchase172,000 Ordinary shares at a price of 99.5 pence per share and 14,796 C shares at a price of 85 pence per share.  The Ordinary shares purchased represent 0.35% of the total number of voting rights in the Company before the transaction and the C shares purchased represent 0.03% of the total number of voting rights in the Company before the transaction.  These shares will be held in treasury.  Buy-backs of treasury shares during the period were transacted through Winterflood Securities Limited, a subsidiary of Close Brothers Group plc, the ultimate parent company of the Manager.


The Company has offered a Dividend Reinvestment Scheme to existing shareholders on the register at 2 May 2008. Details of this Scheme can be found at www.closeventures.co.uk/Our Funds/Close Technology & General VCT PLC. 


There have been no further significant events or transactions that the Board are aware of which would have a material impact on the financial position of the Company between the January 2008 and 16 May 2008. 


Information regarding historic and current financial performance and other useful shareholder information can be found on the Funds website under www.closeventures.co.uk/Our Funds/Close Technology & General VCT PLC.


16 May 2008

For further information, please contact:

Patrick Reeve

Close Ventures Limited

Tel: 020 7422 7830

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