Barclays 30 Share News (PU11)

(Alliance News) - Venture capital trust Puma VCT 11 PLC said Wednesday its funds remain fully deployed as it begins to consider the future for its assets as its initial life comes towards an end.

At the end of the six months ended August, net asset value per share fell 12% to 82.61 pence from 93.46p the year prior. Shares in Puma closed untraded at 83.00 pence in London on Wednesday.

Chair Harold Paisner said the funds of the firm were "substantially deployed" in investments.

When the firm was founded, it was established with a limited line. After five years, the firm agreed the board would propose a resolution to shareholders to undertake an "orderly liquidation" of its assets. Currently, the firm intends to propose this liquidation within the next year.

"As your company enters into the final year of its expected five-year life, we are focused on the monitoring of our existing investments and considering the options for exits," Paisner said. "We remain in close contact with the management teams of our portfolio companies which should in time offer the prospect of further growth in net assets per share."

Puma VCT 11 did not propose an interim dividend. For the full year, it continues to target a 5p per share distribution - unchanged on the year before.

By Ahren Lester; ahrenlester@alliancenews.com

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