Income & Growth VCT (The) PLC Interim Management Statement (2114E)
February 07 2018 - 8:36AM
UK Regulatory
TIDMIGV
RNS Number : 2114E
Income & Growth VCT (The) PLC
07 February 2018
The Income & Growth VCT plc
(the "Company")
INTERIM MANAGEMENT STATEMENT
For the quarter ended 31 December 2017
The Income & Growth VCT plc presents an Interim Management
Statement for the quarter ended 31 December 2017. The statement
also includes relevant financial information between the end of the
quarter and the date of this statement.
NET ASSET VALUE AND TOTAL RETURN PER SHARE
At 31 December At 30 September
2017 2017
Net assets attributable GBP77,386,512 GBP64,348,751
to shareholders
Shares in issue 94,040,850 79,204,702
Net asset value (NAV)
pence per share 82.29 81.24
Cumulative dividends
paid to date pence per
share since inception 102.50 102.50
Total return pence per
share since inception
(NAV basis) 184.79 183.74
(1) This figure is before deducting the final dividend of 3.00
pence per share for the year ended 30 September 2017 described
below. The payment of this dividend on 15 February 2018 will reduce
the net asset value per share to 79.29 pence and increase
cumulative dividends paid per share since inception of the current
share class to 105.50 pence.
DIVIDENDS
No dividends were paid during the quarter.
A final dividend of 3.00 pence per share for the year ended 30
September 2017 was approved by shareholders at the Annual General
Meeting of the Company held on 7 February 2018 ("the AGM"). This
dividend will be paid on 15 February 2018 to shareholders on the
share register on 12 January 2018.
SHARE BUY-BACKS
On 20 December 2017, the Company bought back 608,299 of its
ordinary shares at a price of 72.77 pence per share.
ISSUES OF EQUITY
In connection with the Company's current fundraising activity, a
total of 15,444,447 ordinary shares were issued during the quarter
at prices ranging between 81.21 and 87.36 pence per share.
INVESTMENT ACTIVITY
New Investments
On 21 November 2017, a further GBP0.09 million was invested in
BookingTek Limited
On 5 December 2017, a further GBP0.15 million was invested in
Mpb Group Limited.
On 18 January 2018, GBP0.45 million was invested into Proactive
Investors.
Realisations
On 5 December 2017, a further GBP0.12 million was received from
Alaric Systems Limited, an investment realised in a previous
year.
On 19 December 2017, the Company realised its investment in
Gro-Group Holdings Limited. GBP4.19 million has been received in
cash by the Company while up to a further GBP0.14 million in
deferred consideration is potentially payable over the next 12
months, of which GBP0.02 million was paid on 1 February 2018.
Excluding deferred consideration, this transaction delivered the
Company a realised gain over cost of GBP1.80 million, being 1.90
pence per share.
Loan Stock Repayments
On 1 and 2 November 2017 and 1 February 2018, TPSFF Holdings
Limited made loan stock repayments of GBP0.04 million, GBP0.05
million and GBP0.08 million respectively.
Please note that all of the information above is unaudited.
Other than as described above, there were no material events
during the quarter and to the date of this announcement.
For further information, please contact:
Robert King, for Mobeus Equity Partners LLP, Company Secretary:
020 7024 7600.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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February 07, 2018 08:36 ET (13:36 GMT)
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