Ventus 2 VCT PLC Interim Management Statement (8309V)
January 17 2013 - 11:20AM
UK Regulatory
TIDMVEN2
RNS Number : 8309V
Ventus 2 VCT PLC
17 January 2013
VENTUS 2 VCT PLC
Interim Management Statement - 17 January 2013
Ventus 2 VCT plc (the "Company") presents its final interim
management statement for the financial year ending 28 February
2013, as required by the UK Listing Authority's Disclosure and
Transparency Rule 4.3.
The Company published its half-yearly financial report for the
six months ended 31 August 2012 on 30 October 2012. This interim
management statement summarises the information as at the date of
that report together with any further developments up to the date
of this statement.
Net Asset Value, Dividends and Investments - Ordinary Shares
The Net Asset Value ("NAV") of the ordinary share fund as at 31
August 2012 stood at GBP17,292,000 or 70.8p per ordinary share. The
ordinary share fund held investments in 16 companies with a total
value of GBP14,205,000.
As reported on 28 November 2012, the Company's ordinary share
fund sold its investment in Craig Wind Farm Limited ("CWFL") to
Partnerships for Renewables Limited ("PfR"). PfR is a renewable
energy developer focusing primarily on public sector land. CWFL
owns and operates a 10 megawatt wind farm in Dumfries and Galloway,
Scotland. The Company made its investment in CWFL in 2006.
PfR acquired the Company's 12.5% equity holding in CWFL, as well
as the Company's outstanding loan to CWFL. The sale to PfR resulted
in an increase in the unaudited NAV of the Company's ordinary share
fund, compared to the unaudited NAV as at 31 August 2012, of
GBP434,000.
Since 31 August 2012 the Company's ordinary share fund has
advanced funds of GBP1,800,000 to Eye Wind Power Limited, in which
the Company and Ventus VCT plc each have a 50% shareholding. Eye
Wind Power Limited holds a site in Suffolk with planning consent
for a two-turbine wind farm which it intends to construct and
operate.
As at the date of this statement, the Company holds ordinary
share investments in 15 companies with a total investment value of
GBP14,733,000.
The interim dividend for the financial year ending 28 February
2013 of 1.75p per ordinary share was paid on 16 January 2013 to all
ordinary shareholders on the register as at the close of business
on 14 December 2012.
Following payment of the interim dividend, the unaudited NAV of
the Company's ordinary share fund is 71.1p per ordinary share.
Net Asset Value, Dividends and Investments - C Shares
The NAV of the C share fund as at 31 August 2012 stood at
GBP11,834,000 or 104.5p per C share. The C share fund held
investments in eight companies with a total value of
GBP8,483,000.
The C share fund has extended the maturity date of the loan of
GBP410,000 advanced to EcoGen Limited. This loan had been due to be
repaid to the Company on 31 December 2012.
Allt Dearg Wind Farmers LLP has achieved full electrical
connection and completed all major elements of the construction of
a 10.2 megawatt wind farm near Lochgilphead in Scotland ahead of
schedule. The wind farm is connected to the grid and is producing
electricity on a test basis. The Company's C share fund holds an
investment of GBP1,000,000 in Allt Dearg Wind Farmers LLP through
AD Wind Farmers Limited.
As at the date of this statement, the Company's C share fund
holds investments in eight companies with a total value of
GBP8,483,000.
The interim dividend for the financial year ending 28 February
2013 of 1.20p per C share was paid on 16 January 2013 to all C
shareholders on the register as at the close of business on 14
December 2012.
Following payment of the interim dividend, the NAV of the
Company's C share fund is 103.1p per C share.
For further details of the Company's portfolio of ordinary and C
share investments please see the half-yearly financial report for
the six months ended 31 August 2012 which is available through the
Company's website (www.ventusvct.com).
Issued on behalf of the Board
The City Partnership (UK) Limited
Company Secretary
17 January 2013
This information is provided by RNS
The company news service from the London Stock Exchange
END
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