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14 Sep 2016 13:47
The Income & Growth VCT plc
(the "Company")
INTERIM MANAGEMENT STATEMENT
For the quarter ended 30 June 2016
The Income & Growth VCT plc presents an Interim Management Statement for the quarter ended 30 June 2016. The statement also includes relevant financial information between the end of the period and the date of this statement.
NET ASSET VALUE AND TOTAL RETURN PER SHARE
| At 30 June 2016 | At 31 March 2016
|
Net assets attributable to shareholders
| £74,055,573 | £74,311,427
|
Shares in issue | 71,164,788 | 71,164,788 |
Net asset value (NAV) per share
| 104.06p | 104.42p |
Cumulative dividends paid to date per share | 74.50p | 74.50p |
Total return per share since inception (NAV basis) since launch | 178.56p | 178.92p |
DIVIDENDS
No dividends were paid during the quarter. However, following the quarter end, on 7 July 2016, the Company paid an interim dividend of 6.00 pence per share in respect of the current year ending 30 September 2016, bringing total cumulative dividends paid per share since the inception of the current share class to 80.50 pence.
ISSUE OF EQUITY
No new shares were allotted or issued during the quarter under review. Following the quarter end, on 7 July 2016, the Company allotted 791,329 ordinary shares at price of 87.00 pence per share. The shares were allotted further to the Company's Dividend Investment Scheme in respect of the dividend of 6.00 pence per share paid on 7 July 2016 referred to above.
SHARE BUY-BACKS
The Company did not buy back any of its own shares during the quarter.
INVESTMENT ACTIVITY
New Investments
On 15 June 2016, £0.65 million was invested into MPB Group, Europe's leading online marketplace (www.mpb.com) for used photo and video equipment.
Realisations
There were no realisations during the period but on 15 June 2016, £0.01 million was received as deferred proceeds from the sale of Westway Services (2014) limited, which had occurred in December 2015.
After the period end, £0.01 million was received from Newquay Helicopters (2013) Limited as a third interim distribution resulting from the members' voluntary liquidation of the Company.
Loan Stock Repayments
£0.08 million was received during the quarter to 30 June 2016 from Jablite Holdings Limited as a loan stock repayment (including the premium payable).
Please note that all of the information above is unaudited.
Other than as described above, there were no material events during the period and to the date of this announcement.
For further information, please contact:
Sarah Penfold, for Mobeus Equity Partners LLP, Company Secretary: 020 7024 7600
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