Sign In
Last checked at 
15 May 2008 07:00
ο»Ώ
FOR IMMEDIATE RELEASEΒ 15 MAY 2008
HYGEA VCT PLC
INTERIM MANAGEMENT STATEMENTΒ
HygeaΒ VCTΒ plcΒ ("Hygea" or the "Company")Β presents its interim management statement forΒ the period from 1 January 2008 to 14 May 2008 (the "Period").Β This constitutes the Company's first interim management statement for the financial year ending 31 December 2008, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.Β This statement has been prepared solely to provide additional information in order to meet the requirements of the Disclosure and Transparency Rules and should not be relied on by shareholders, or any other party, for any other purpose.
The unaudited net asset value per ordinary share and the number of shares in issue at 31 March 2008 were 60.3p andΒ 7,530,191 respectivelyΒ (31 December 2007: 61.2p and 7,530,191 respectively).
On 2 April 2008 and 30 April 2008, a total of 150,000 new ordinary shares have been allotted at a price of 50p pursuant to the 10% top-up offer announced on 19 March 2008.
During the three months ended 31 March 2008 the company subscribed for further shares in Prosurgics LimitedΒ (a leading image-guided surgical robotics company)Β at a total cost of Β£100,000Β and in Hallmarq Veterinary Imaging Limited (which develops low cost magnetic resonance imaging systems for equine vets) at a total cost of Β£100,000Β and has made no disposals.
The Directors note thatΒ the net asset value has fallenΒ in the three months ended 31 March 2008 largely due to the declineΒ in the value of the, albeit reduced, AIM portfolio as well as operating expenses in the period. The Directors remain confidentΒ that the portfolio will deliverΒ value to shareholders over the three to five year period referred to in the annual reportΒ based on positive operating developments within the portfolio.
The Directors are not aware of any events which have taken place between 31 March 2008 and the date of publication of this statement, which have had a material effect on the financial position of the company.
Enquiries:Β
James Otter,Β Chairman,Β HygeaΒ VCTΒ plc -Β james.otter@ellipson.co.ukΒ
Neil Osmond,Β Company Secretary,Β Hygea VCT plc onΒ 020 7866 5420
website:Β www.hygeavct.com
Roland Cornish/Felicity Geidt, Beaumont Cornish LimitedΒ - 0207 628 3396
Follow the stocks
