(Alliance News) - Calculus VCT PLC said Friday its interim net asset value dropped due to the write down of some investments and the low return earned on cash.
As at August 31, the venture capital trust reported a net asset value of 72.20 pence per share, down from 81.10p the same date the year before, and from 75.84p at the end of February.
During the period, Calculus was forced to write down its investment in Terrain Energy by GBP265,000, due to disappointing results from the Brockham well test.
In addition, Solab's equity was written down in full, losing GBP180,000 in net asset value as the company was placed into administration in June.
Difficult trading conditions in Pico's, also known as Benito's Hat led to its value being written down by Calculus.
During the period, Calculus made six investments within its qualifying portfolio, worth GBP1.4 million in total.
Shares in Calculus VCT closed untraded on Friday, last quoted at 70.00 pence on Friday.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Calculus Vct (CLC)