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16 May 2008 10:31
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Close Technology & General VCTΒ PLC Interim Management Statement
Introduction
I am pleasedΒ to presentΒ theΒ Company'sΒ interim management statement forΒ the period from 1Β January 2008Β toΒ 16Β MayΒ 2008Β as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
FinancialΒ Position andΒ PerformanceΒ
TheΒ Ordinary shares and C sharesΒ approximate unaudited net asset value (NAV) asΒ atΒ 31Β March 2008Β wasΒ 110.53 penceΒ andΒ 90.76Β pence per shareΒ respectively. This is after accounting for a dividend ofΒ 4Β pence per shareΒ for Ordinary shares and 1.5p per share for C shares which is payableΒ onΒ 30 MayΒ 2008.
Portfolio
In the period from 1Β January 2008Β toΒ 16Β May 2008Β CloseΒ Technology & General VCTΒ PLCΒ hasΒ madeΒ newΒ investmentsΒ as follows:
Ordinary share portfolio
|
Investment |
Existing/NewΒ investee company |
Β£'000s |
|
Opta Sportsdata Limited |
New |
110 |
|
Consolidated Communications Management Limited |
Existing |
33 |
|
BlackbayΒ Limited |
Existing |
25 |
|
Rostima Limited |
Existing |
11 |
C share portfolio
|
Investment |
Existing/New investee company |
Β£'000s |
|
Opta Sportsdata Limited |
New |
515 |
|
Rostima Limited |
Existing |
128 |
|
Blackbay Group Limited |
Existing |
60 |
Top Ten Qualifying Holdings (as at 31Β Mar 2008)
|
Holding |
Carrying Value Β£'000s |
|
Chichester Holdings Limited |
2,254 |
|
Kensington Health Club Limited |
2,013 |
|
Evolutions Television Limited |
1,734 |
|
Xceleron Limited |
1,389 |
|
Grosvenor Health Limited |
1,351 |
|
The Q Garden Company Limited |
1,190 |
|
The Weybridge Club Limited |
1,143 |
|
Blackbay Limited |
1,072 |
|
Churchill Taverns VCT Limited |
989 |
|
Oxsensis Limited |
830 |
Material EventsΒ and Transactions
As mentionedΒ above, a dividend of 4Β pence perΒ OrdinaryΒ shareΒ and 1.5p per C share is payable on 30 May 2008Β to shareholders on the record as at 2 May 2008.
In the period fromΒ 1 January 2008Β toΒ 16Β MayΒ 2008, your CompanyΒ re-purchasedΒ 172,000Β Ordinary shares at a price of 99.5 pence per shareΒ and 14,796 C shares at a price of 85 pence per share. The Ordinary shares purchased represent 0.35% of the total number of voting rights in the Company before the transaction and the C shares purchased represent 0.03% of the total number of voting rights in the Company before the transaction. These shares will be held in treasury. Buy-backs of treasury shares during the period were transacted through Winterflood Securities Limited, a subsidiary of Close Brothers Group plc, the ultimate parent company of the Manager.
The Company has offered a Dividend Reinvestment Scheme to existing shareholders on the register at 2 May 2008. Details of this Scheme can be found at www.closeventures.co.uk/Our Funds/Close Technology & General VCT PLC.Β
There have been no furtherΒ significantΒ events or transactions that the Board are aware ofΒ which would have a material impact on the financial position of the CompanyΒ between theΒ 1Β January 2008 andΒ 16Β May 2008.Β
Information regarding historic and current financial performance and other useful shareholder information can be found on the Funds website underΒ www.closeventures.co.uk/OurΒ Funds/CloseΒ Technology & General VCTΒ PLC.
16Β MayΒ 2008
For further information, please contact:
Patrick Reeve
Close Ventures Limited
Tel: 020 7422 7830
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