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British Smaller Cos VCT Reports Lower Net Asset Value In Quarter

Thu, 15th Aug 2019 15:55

(Alliance News) - British Smaller Cos VCT PLC on Thursday said it reviews acquisition options following a decline in net asset value in the quarter ended June 30.

The investment company reported NAV per share as at June 30 of 70.3 pence, lower than 74.3p posted at the end of March.

British Smaller Cos VCT made three new and one follow-on investments of GBP7.8 million in the three months to the end of June, and on June 12 paid an interim dividend of 4.0p per share.

The recent changes to HMRC's advance assurance process have helped to deliver an encouraging level of investment in the first quarter of the financial year, the company explained.

Looking ahead, British Smaller Cos VCT said the new investment pipeline remains strong with several attractive opportunities currently under review and options to realise the value of some of the more mature investments are being considered.

The stock was untraded on Thursday in London, last closing at 68.00p a share.

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