Interim Management Statement (8933B)
February 25 2011 - 8:09AM
UK Regulatory
TIDMEDGC
RNS Number : 8933B
Edge Performance VCT PLC
25 February 2011
Edge Performance VCT plc ("Edge" or the "Company")
INTERIM MANAGEMENT STATEMENT
for the period from 1 September 2010 to 22 February 2011
In accordance with Rule 4.3 of the UK Listing Authority's
Disclosure and Transparency Rules, Edge presents an Interim
Management Statement for the period from 1 September 2010 to 22
February 2011.
"G" Share Offer
An offer for subscription of up to 10,000,000 "G" shares of 10p
each in the capital of the Company, with an over-allotment facility
of up to a further 20,000,000 G shares, at an issue price of 100p
each payable in full on subscription was launched on 20 October
2010.
On 2 February 2011, the Company announced that the board of
directors had exercised its discretion to increase the offer for
subscription from 10 million shares to 20 million shares in
accordance with the terms of the over-allotment facility.
As at 22 February 2011, a total of GBP8,374,700 had been
subscribed under the offer.
Dividends
On 12 November 2010, final dividends of 7.0p per C share, 7.0p
per D share and 7.0p per E share were paid to all C shareholders, D
shareholders and E shareholders respectively on the register as at
close of business on 29 October 2010. These dividends raised the
cumulative dividends to 21p, 14p and 7p per C, D and E share
respectively.
New Director Appointed
Kevin Falconer was appointed to the board of the Company as a
non-executive director with effect from 19 January 2011.
New Investments
During the period the fund increased its investment in Coolabi
plc by GBP369,312 increasing its ownership in the business to
16.7%. The shares were issued to the fund at 6p. The cost of the
Company's total investment in Coolabi plc was GBP619,312 and it was
carried at GBP557,412 in the management accounts as at 30 November
2010.
Share Buy-Backs
During the period, the Company bought back 200,000 F shares at a
price of 84p per share which represented an approximate discount of
10% to the most recently published net asset value as at the date
of the transaction.
Net Asset Values per Share
as at 30 November 2010
Net Asset
Value plus
Net Asset Dividends
Net Assets, Shares in Value per paid per
Share Class GBP Issue Share, p Share, p
------------- -------------- -------------- --------------- --------------
C 9,000,082 13,328,599 67.52 88.52
------------- -------------- -------------- --------------- --------------
D 15,042,655 19,228,838 78.23 92.23
------------- -------------- -------------- --------------- --------------
E 8,305,610 9,813,732 84.63 91.63
------------- -------------- -------------- --------------- --------------
F 27,546,472 29,411,437 93.66 93.66
------------- -------------- -------------- --------------- --------------
The initial net asset value per share for each class of share
was 94.5p (excluding the impact of any dilution attributable to the
issue of additional shares under early subscription incentive
schemes) and income tax relief of up to 30p per GBP1 invested was
available for each class of allotted shares.
The Company is not aware of any significant event or transaction
which has occurred between 1 September 2010 and 22 February 2011
which has had a material effect on the financial position of the
Company and has not been detailed above.
22 February 2011
For further information, please contact:
-- Robin Smeaton, City Partnership, Company Secretary 0131 243
7210
-- Alasdair George, Edge Investment Management, Investment
Manager 0207 317 1300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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