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27 Feb 2024 09:30
The Income & Growth VCT plc
("the Company")
LEI: 213800FPC15FNM74YD92
INTERIM MANAGEMENT STATEMENT
For the quarter ended 31 December 2023
The Income & Growth VCT plc presents an Interim Management Statement for the quarter ended
31 December 2023. 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 31 December 2023 (unaudited) | At 30 September 2023 audited) |
Net assets attributable to shareholders | £115,851,751 | £122,777,786 |
Shares in issue | 157,531,576 | 154,766,933 |
Net asset value (NAV) per share | 73.54p | 79.33p |
Cumulative dividends paid | 159.50p | 152.50p |
Cumulative Total return (net asset value basis) per share since inception | 233.04p | 231.83p |
The NAV per share has decreased by 5.79 pence in the quarter (a decrease of 7.3% upon the opening NAV per share).
INVESTMENT ACTIVITY DURING THE PERIOD
New Investments during the period
On 15 December 2023, a new equity investment of £1.50 million was made into Ozone Financial Technology Limited, an open banking software developer.
On 21 December 2023, a new equity investment of £0.77 million was made into Huddl Mobility Limited (trading as CitySwift), a passenger transport data and scheduling software provider.
On 22 December 2023, a new equity investment of £0.53 million was made into Azarc.io Inc, a cross-border customs automation software provider.
Further Investments during the period
On 20 November 2023, a follow on loan investment of £0.23 million was made into Rota Geek Limited, a provider of cloud-based staff scheduling solutions.
On 11 December 2023, a follow on equity investment of £0.17 million was made into Focal Point Positioning Limited, a provider of GPS enhancement software.
DIVIDEND PAID DURING THE PERIOD
On 8 November 2023, an interim dividend of 7.00 pence per share in respect of the year ending
30 September 2023 was paid to all Shareholders whose names were on the register on
13 October 2023.
INVESTMENT ACTIVITY AFTER THE PERIOD END
Follow-on investment after the period end
On 10 January 2024, a follow on equity investment of £0.64 million was made into My TutorWeb Limited (trading as MyTutor), a digital marketplace for online tutoring.
Realisation after the period end
The Company is pleased to announce the sale of Masters Removers Group (2019) Limited ("MRG") to Elanders AB and alongside this, the sale of its shares in MRG's domestic removals business to management. There is no material difference in proceeds receivable compared to the value at which the Company holds its investment in MRG. Further details will be announced via a separate RNS in due course.
Share Buyback after the period end
On 19 January 2024, the Company purchased 1,237,907 of its own ordinary shares at a price of
68.71 pence per share.
All shares bought back by the Company were subsequently cancelled.
Please note that all of the above information 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:
Gresham House Asset Management Limited
Company Secretary
020 7382 0999
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