Net Asset Value(s)
April 07 2011 - 6:08AM
UK Regulatory
TIDMHGT
HgCapital Trust plc
All information is at 31 March 2011 and unaudited.
Performance at month end with net income reinvested
One month Three One Three Five Ten years
months year years years
Net asset value 1.6% 2.7% 24.3% 23.0% 92.7% 228.2%
(diluted)
Net asset value 1.4% 2.3% 20.7% 19.4% 87.1% 218.7%
(basic)
Share price 10.4% 6.9% 26.5% 37.5% 79.9% 282.5%
FTSE All-Share (0.8%) 1.0% 8.7% 17.0% 20.0% 44.2%
Index
Sources: HgCapital, Factset
At month end
Net asset value:*
Basic 1,149.6p
Diluted 1,116.3p
Share price ordinary shares: 1,075.0p
Ordinary share price discount to NAV 6.5%
(basic):
Ordinary share price discount to NAV 3.7%
(diluted):
Share price subscription shares: 122.8p
Total net assets: GBP357.6m
Net yield:** 2.6%
Gearing: Nil%
Ordinary shares in issue: 31,103,915
Subscription shares in issue: 6,220,783
* includes 3 months net revenue of 8.93p
** based on a dividend of 28.0p announced on 18 March 2011
Following the sale of SLV (expected to be completed in June 2011), the NAV is
estimated to be GBP367.6 million (1,181.9 pence per share basic; 1,143.2 pence
per share diluted). The ordinary share price is trading at a 9.0% discount to
the adjusted NAV of 1,181.9 pence per share; 6.0% discount to the adjusted
diluted NAV of 1,143.2 pence per share.
The NAV is recalculated monthly with respect to cash, cash equivalents and
quoted investments in the portfolio.
Unquoted investments were last revalued at 31 December 2010.
Sector Total Assets
%
Technology & Media 29.0
Industrials 11.7
Services 10.0
Healthcare 9.5
Consumer & Leisure 4.2
Renewable Energy 4.3
Other 6.9
Cash and other liquid assets* 24.4
100.0
* Cash and other liquid assets are stated before the sale of SLV scheduled to
complete in June 2011. After completion, cash and other liquid assets is
estimated to be 30.5% (28.2% after the proposed dividend to be paid in May
2011) of total adjusted net assets.
Ten Largest Investments
Company Total Assets Sector
%
TeamSystem 7.3 Technology & Media
VISMA 6.6 Technology & Media
Stepstone Solutions 5.5 Technology & Media
Frosunda 4.5 Healthcare
SLV Electronic 4.2 Industrials
SHL 4.1 Services
Mondo Minerals Co-op 3.8 Industrials
Achilles 3.6 Technology & Media
HG Renewable Energy (Fund 1) 3.6 Renewable Energy
Midas EqityCo 3.4 Healthcare
46.6
07 April 2011
END
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