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16 May 2008 10:31
Close Technology & General VCT PLC Interim Management Statement
Introduction
I am pleased to present the Company's interim management statement for the period from 1 January 2008 to 16 May 2008 as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
Financial Position and Performance
The Ordinary shares and C shares approximate unaudited net asset value (NAV) as at 31 March 2008 was 110.53 pence and 90.76 pence per share respectively. This is after accounting for a dividend of 4 pence per share for Ordinary shares and 1.5p per share for C shares which is payable on 30 May 2008.
Portfolio
In the period from 1 January 2008 to 16 May 2008 Close Technology & General VCT PLC has made new investments as follows:
Ordinary share portfolio
|
Investment |
Existing/New investee company |
£'000s |
|
Opta Sportsdata Limited |
New |
110 |
|
Consolidated Communications Management Limited |
Existing |
33 |
|
Blackbay Limited |
Existing |
25 |
|
Rostima Limited |
Existing |
11 |
C share portfolio
|
Investment |
Existing/New investee company |
£'000s |
|
Opta Sportsdata Limited |
New |
515 |
|
Rostima Limited |
Existing |
128 |
|
Blackbay Group Limited |
Existing |
60 |
Top Ten Qualifying Holdings (as at 31 Mar 2008)
|
Holding |
Carrying Value £'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 Events and Transactions
As mentioned above, a dividend of 4 pence per Ordinary share and 1.5p per C share is payable on 30 May 2008 to shareholders on the record as at 2 May 2008.
In the period from 1 January 2008 to 16 May 2008, your Company re-purchased 172,000 Ordinary shares at a price of 99.5 pence per share 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.
There have been no further significant events or transactions that the Board are aware of which would have a material impact on the financial position of the Company between the 1 January 2008 and 16 May 2008.
Information regarding historic and current financial performance and other useful shareholder information can be found on the Funds website under www.closeventures.co.uk/Our Funds/Close Technology & General VCT PLC.
16 May 2008
For further information, please contact:
Patrick Reeve
Close Ventures Limited
Tel: 020 7422 7830
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