Ventus 2 VCT PLC Interim Management Statement (7252V)
December 17 2013 - 4:37AM
UK Regulatory
TIDMVEN2
RNS Number : 7252V
Ventus 2 VCT PLC
17 December 2013
VENTUS 2 VCT PLC
Interim Management Statement - 16 December 2013
Ventus 2 VCT plc (the "Company") presents its final interim
management statement for the financial year ending 28 February
2014, 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 month period ended 31 August 2013 on 29 October 2013. 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 2013 stood at GBP17,460,000or 71.5p per ordinary share.
There has been no significant change in the NAV of the ordinary
share fund between 31 August 2013 and the date of this
statement.
The board has declared an interim dividend for the financial
year ending 28 February 2014 of 1.75p per ordinary share. The
interim dividend is to be paid on 15 January 2014 to all ordinary
shareholders on the register as at the close of business on 13
December 2013.
As at the date of this statement, the Company holds ordinary
share investments in 16 companies with a total investment value of
GBP15.8 million.
Net Asset Value, Dividends and Investments - C Shares
The NAV of the C share fund as at 31 August 2013 stood at
GBP12,123,000 or 107.0p per C share. There has been no significant
change in the NAV of the C share fund between 31 August 2013 and
the date of this statement.
The board has declared an interim dividend for the financial
year ending 28 February 2014 of 2.50p per C share. The interim
dividend is to be paid on 15 January 2014 to all ordinary
shareholders on the register as at the close of business on 13
December 2013.
As at the date of this statement, the Company's C share fund
holds investments in 9 companies with a total value of GBP10.7
million.
Details of investments
For further details of the Company's portfolio of ordinary and C
share investments please see the half-yearly financial report for
the six month period ended 31 August 2013 which is available
through the Company's website (www.ventusvct.com).
UK Government National Infrastructure Plan
On 4 December 2013, the Government published its National
Infrastructure Plan, which included final prices for the new
support mechanism for renewable energy technologies. The new
mechanism is available to projects commissioning from 2015 onwards
and, post 2017, will be the long-term replacement for the current
Renewable Obligation Certificate ("ROC") regime. The final prices
for onshore wind under the new regime were approximately 5% lower
than the draft prices published in June 2013.
The new support mechanism has no impact on the current ROC
regime. The ROC regime remains open to projects commissioning prior
to April 2017 for an operating period of 20 years. The Ventus
Funds' existing wind investments, as well as the wind projects
identified for the D share portfolio, are structured to fit into
the ROC regime. The announcement therefore has no impact on the
existing or planned investments of the Ventus Funds.
D Share offer
On 20 November 2013 the Company, together with Ventus VCT plc,
announced the launch of a joint offer for subscription for D Shares
to raise up to GBP20m in aggregate. The offer is now open and will
close on 4 April 2014 for the 2013/2014 tax year and on 30 May 2014
for the 2014/2015 tax year, or earlier if it is fully subscribed or
later at the discretion of the Boards.
The prospectus is available from:
-- The City Partnership (UK) Limited, Thistle House, 21 Thistle
Street, Edinburgh, EH2 1DF
-- RAM Capital Partners LLP, 10 Furnival Street, London, EC4A
1HY
-- The Companies' website at www.ventusvct.com
Issued on behalf of the Board
The City Partnership (UK) Limited
Company Secretary
17 December 2013
This information is provided by RNS
The company news service from the London Stock Exchange
END
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