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LONDON (Alliance News) - Maven Income & Growth VCT 4 PLC said Friday that its net asset value per share in the first half of 2018 declined by 25% after dividend payments.
For the six months to June 30, the venture capital trust posted NAV per share of 72.31 pence, down year-on-year from 96.35p. At the end of December, NAV stood at 85.97p. The company said the decrease in NAV was due to a dividend payment of 13.70p per share.
The company's net assets increased to GBP41.7 million from GBP31.5 million a year ago.
"Your company has achieved positive performance in the first half of the financial year," Maven Income & Growth VCT 4 said in the statement.
It added: "Performance across the portfolio as a whole was generally encouraging, with no discernible impact from the current political uncertainty, and a number of portfolio companies making good progress against the commercial milestones set at the time of the original investment."
Looking ahead, Maven VCT 4 said it expects to compete a "meaningful number of new investments" in the second half of 2018.
On Thursday, Maven VCT 4 said it was in discussions with Maven Income & Growth VCT 2 PLC regarding a potential merger with the aim of reducing costs.
Maven Income & Growth VCT 4 shares were untraded at 63p each on Friday.
