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Interim Management Statement

15 Aug 2013 16:08

THE INCOME & GROWTH VCT PLC - Interim Management Statement

THE INCOME & GROWTH VCT PLC - Interim Management Statement

PR Newswire

London, August 15

The Income & Growth VCT plc ("the Company") INTERIM MANAGEMENT STATEMENT For the quarter ended 30 June 2013 In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UKListing Authority, The Income & Growth VCT plc presents an Interim ManagementStatement for the quarter ended 30 June 2013. The statement also includesrelevant financial information between the end of the period and the date ofthis statement. NET ASSET VALUE AND TOTAL RETURN PER SHARE At 30 June 2013 At 31 March 2013 Net assets attributable to shareholders £58,475,235 £56,682,008 Shares in issue 52,921,145 50,149,478 Net asset value (NAV) per share 110.50p 113.03p Cumulative dividends paid to date per share 40.50p 34.50p Total return per share since inception (NAV basis) 151.00p 147.50p INVESTMENTS The Company made a further investment into ATG Media Holding Limited (ATGMedia) of £1 million in April 2013 to support the acquisition of the US companyBidspotter Inc. by ATG Media. The funds for this investment were provided bythe acquisition vehicle Peddars Management Limited. Following the period-end, in July 2013, the Company completed a further newinvestment of £2.29 million (including £1 million provided by the Acquisitionvehicle Madacombe Trading Limited) to support the MBO of Veritek GlobalLimited, a Europe-wide provider of installation, maintenance and supportservices for blue-chip owners of printing equipment. DIVESTMENTS The Company received partial repayments during the quarter ended 30 June 2013totalling £826,193 as follows: Date Investee company Partial loan stock repayment received (including premiums paid) April 2013 DiGiCo Global Limited £ 55,237 May 2013 Westway Services Holdings (2010) Limited £ 99,680 May 2013 Newquay Helicopters (2013) Limited £646,218 (formerly British International Holdings Limited) June 2013 Tessella Holdings Limited £ 25,058 Following the period-end in July 2013, the Company received partial loan stockrepayments totalling £262,715 comprising £14,149 from Monsal Holdings Limitedand £248,566 from DiGiCo Global Limited. SHARE BUY-BACKS During the quarter the VCT bought back a total of 199,464 of the Company's ownshares at an average price of 97.2 pence per share. MOBEUS VCTs' LINKED OFFER FOR SUBSCRIPTION During the quarter ended 30 June 2013, the Company issued and allotted a totalof 3,224,887 ordinary shares in the Company at an average price of 112.68 penceper share, raising net proceeds of £3.5 million (after deducting initialcosts). Applications totalling £24.85 million were received under the Linked Offerwhich closed on 30 April 2013 of which £8.28 million was received for TheIncome & Growth VCT plc. DIVIDEND INVESTMENT SCHEME Following the period-end in July 2013, the Company issued and allotted afurther 392,188 ordinary shares in the Company at a price of 96.0 pence pershare in respect of the dividend of 6 pence per share paid on 27 June 2013. ENHANCED BUYBACK (EBF) On 4 April 2013, the Company purchased 4,694,852 of its own ordinary shares ata price of 108.8 pence per share and allotted 4,548,282 new ordinary shares inthe Company at 112.3 pence per share pursuant to the EBF in respect ofapplications for the 2012/2013 tax year. On 8 April 2013, the Company purchased 3,434,836 of its own ordinary shares ata price of 108.8 pence per share and allotted 3,327,650 new ordinary shares inthe Company at 112.3 pence per share pursuant to the EBF in respect ofapplications for the 2013/2014 tax year. INTERIM DIVIDEND An interim dividend of 6 pence per share was paid to shareholders on 27 June2013 bringing cumulative dividends paid per share to 40.50 pence for thoseshareholders who invested in 2007/08 (52.77 pence per share, for thoseshareholders who invested in 2000/01). For further information, please contact:

Sarah Penfold, for Mobeus Equity Partners LLP, Company Secretary: 020 7024 7616

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