LONDON (Alliance News) - Baronsmead VCT PLC Friday said its net asset value per share increased 9.4% to 84.66 pence in the first-half, before deducting for dividends, driven by an increase in the valuation of the quoted portfolio.
In a statement, Baronsmead VCT said its net asset value total return to shareholders for every 100.0 pence invested at launch now stands at 341.8 pence. It paid a 6.0 pence dividend for the six months ended March 31.
Meanwhile, Baronsmead VCT 2 said its net asset value per share increased 9.5% to 110.19 pence over the same six month period, before deducting for dividends, also driven by its quoted portfolio. It paid an 8.0 pence interim dividend.
Baronsmead VCT 3 PLC said its net asset value per share increased by 4.5% before payment of its 8.0 pence interim dividend over the three months ended March 31.
Baronsmead VCT 4 PLC said its net asset value per share before the payment of its 6.0 pence interim dividend increased by 3.4% over the three months ended March 31.
Baronsmead VCT 5 PLC said its net asset value per share before the payment of its interim dividend increased by 5.3% over the three months ended March 31.
Meanwhile, the Octopus Apollo VCT PLC, managed by Octopus Investments Ltd, said its net asset value fell to 86.8 pence a share from 89.3 pence over the year ended January 31. After adding back the 5.0 pence of dividends paid in the year the total return rose by 2.3%, to 109.3 pence, from 106.8 pence.
The merger of the Octopus Apollo VCTs in 2012 was designed to deliver cost savings and strategic benefits to all shareholders. It was anticipated that the costs of the merger, GBP320,000, would be recovered within sixteen months.
Chairman Murray Steele said that merger-related cost savings of GBP329,000 were made during the year ended January 31.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Octopus Ap (OAP3)
Baronsmead Vt (BVT)
Baronsmead 2vt (BMD)