Interim Management Statement (2423D)
March 18 2011 - 10:40AM
UK Regulatory
TIDMAVC
RNS Number : 2423D
Aberdeen Development Capital PLC
18 March 2011
Aberdeen Development Capital PLC ("the Company")
Interim Management Statement - Quarter ended 28 February
2011
This Interim Management Statement for the quarter ended 28
February 2011 is provided in accordance with Rule 4.3 of the
Disclosure and Transparency Rules of the UK Listing Authority and
also includes relevant information in respect of the period from 1
March 2011 to the date of issue. This Statement has been prepared
solely to provide additional information in order to meet the
relevant requirements of the UK Listing Authority's Disclosure and
Transparency Rules, and should not be relied on by Shareholders, or
any other party, for any other purpose.
1. Financial highlights
Net Asset Value* ("NAV") of 8.4p per Ordinary share at 28
February 2011; when compared to the NAV at 30 November 2010 of
7.3p, represents a increase of 15.1% over the three month period
and is mostly due to the receipt of interest from HMRC on VAT
reclaimed on historic investment management fees.
* The NAV is unaudited. Unlisted companies are valued on a six
monthly basis and the NAV incorporates the Directors' valuation of
unlisted investments as at 30 November 2010. The Company held no
quoted investments as at 28 February 2011.
2. Investments and disposals
During the quarter ended 28 February 2011, no new or follow-on
investments were made. No full exits were achieved, however,
GBP10,000 was received as part of a scheduled repayment of
institutional loan stock and a further GBP5,000 arising from
liquidation proceeds of a holding previously written off.
There were no other material transactions during the period
under review.
3. Recent Developments
Between 28 February 2011 and the date of this statement, no new
or follow-on investments have been made, nor have there been any
investment sales.
The Boards of subsidiary companies ADC Zeros 2010 PLC and ADC
Zeros 2012 PLC recently announced a return of capital of 10p per
share to holders of ZDP shares with a payment date of 11 March
2011, bringing the total returned to date to 98.6p per ZDP share
compared with an issue price of 100p per ZDP share. Further returns
of capital will be considered as liquidity allows.
Other than as described above, the Board is not aware of any
material events during the period from 1 December 2010 to 28
February 2011, or in the period from 1 March 2011 to the date of
this announcement, which would have had a material impact on the
financial position of the Company.
Issued on behalf of the Board
Aberdeen Asset Management PLC, Secretary
18 March 2011
This information is provided by RNS
The company news service from the London Stock Exchange
END
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