3rd Quarter Results - Interim Management Statement

RNS Number : 8525J

Income & Growth VCT (The) PLC

14 September 2016

 

The Income & Growth VCT plc

(the "Company")

INTERIM MANAGEMENT STATEMENT

For the quarter ended 30 June 2016

The Income & Growth VCT plc presents an Interim Management Statement for the quarter ended 30 June 2016.  The statement also includes relevant financial information between the end of the period and the date of this statement.

NET ASSET VALUE AND TOTAL RETURN PER SHARE

	At 30 June 2016	At 31 March 2016
Net assets attributable to shareholders	£74,055,573	£74,311,427
Shares in issue	71,164,788	71,164,788
Net asset value (NAV) per share	104.06p	104.42p
Cumulative dividends paid to date per share	74.50p	74.50p
Total return per share since inception (NAV basis) since launch	178.56p	178.92p

DIVIDENDS

No dividends were paid during the quarter. However, following the quarter end, on 7 July 2016, the Company paid an interim dividend of 6.00 pence per share in respect of the current year ending 30 September 2016, bringing total cumulative dividends paid per share since the inception of the current share class to 80.50 pence.

ISSUE OF EQUITY

No new shares were allotted or issued during the quarter under review.  Following the quarter end, on 7 July 2016, the Company allotted 791,329 ordinary shares at price of 87.00 pence per share.  The shares were allotted further to the Company's Dividend Investment Scheme in respect of the dividend of 6.00 pence per share paid on 7 July 2016 referred to above.

SHARE BUY-BACKS

The Company did not buy back any of its own shares during the quarter.

INVESTMENT ACTIVITY

New Investments

On 15 June 2016, £0.65 million was invested into MPB Group, Europe's leading online marketplace (www.mpb.com) for used photo and video equipment.

Realisations

There were no realisations during the period but on 15 June 2016, £0.01 million was received as deferred proceeds from the sale of Westway Services (2014) limited, which had occurred in December 2015.

After the period end, £0.01 million was received from Newquay Helicopters (2013) Limited as a third interim distribution resulting from the members' voluntary liquidation of the Company.

Loan Stock Repayments

£0.08 million was received during the quarter to 30 June 2016 from Jablite Holdings Limited as a loan stock repayment (including the premium payable).

Please note that all of the information above is unaudited.

Other than as described above, there were no material events during the period and to the date of this announcement.

For further information, please contact:

Sarah Penfold, for Mobeus Equity Partners LLP, Company Secretary: 020 7024 7600

 

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