Hygea VCT plc : Results of AGM and Interim Mana...

                                                                                            10 May 2012

HYGEA VCT PLC

RESULT OF AGM
INTERIM MANAGEMENT STATEMENT

Hygea vct plc ('the Company') announces that at the Company's AGM held yesterday all resolutions were passed.

In addition, the Company presents its interim management statement for period from 1 January 2012 to 9 May 2012. This constitutes the Company's first interim management statement for the financial year ending 31 December 2012, 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 31 March 2012 were 73.9p and 8,115,376 respectively (31 December 2011: 70.6p and 8,115,376 respectively).  There were no shares held in Treasury at either date.

No shares have been issued or repurchased during the period.

At 31 March 2012, the Company's assets included its portfolio of unlisted assets along with £269,613 in cash and £2,564,224 in AIM traded shares valued at bid price.

During the three months ended 31 March 2012, the Company made no further investments.

The increase in net asset value during the period arose primarily from the increase in the value of the AIM portfolio where the bid price of Scancell, the largest AIM investment, rose from 6.0p to 11.37p valuing this holding at £1,687,277. The overall value of the unquoted portfolio has been reduced by £600,000 to reflect the financing challenges faced by unquoted companies generally in the current economic climate. As disclosed in the annual accounts, the Company may be entitled to further receipts from the DxS earnout of up to £300,000.

The Directors are not aware of any other events which have taken place between 31 March 2012 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 - [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

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Source: Hygea VCT plc via Thomson Reuters ONE

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