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10 Aug 2010 14:44
The Income & Growth VCT plc ("the Company") INTERIM MANAGEMENT STATEMENT For the quarter ended 30 June 2010
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority, The Income & Growth VCT plc presents an Interim Management Statement for the quarter ended 30 June 2010. 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 2010 At 31 March 2010 Net assets attributable to £36,055,149 £35,730,150shareholders Shares in issue 37,453,635 37,929,970 Net asset value (NAV) per share * 96.27 p 94.20 p Cumulative dividends paid to date per 0.50 p 0.50 pshare Total return per share since inception 96.77 p 94.70 p(NAV basis)* -------------------------------------- * NAV per share includes negative (0.12) p (0.50) pcurrent year income of
NEW INVESTMENTS and DIVESTMENTS
The Company made no new investments or divestments during the quarter.
On 30 June 2010 the company received a loan stock repayment of £45,697 from DiGiCo Europe Limited plus a premium of £3,403.
After the quarter-end in July, the Company invested a further £1,717 into Monsal Holdings as part of a refinancing that introduced FourWinds Capital as a new investor. FourWinds has provided £4 million (of a total commitment of £14 million) to Monsal at a valuation significantly greater than our original cost and previous valuation. Monsal has also repaid £47,158 of the Company's loan stock as part of the investment round. This repayment, together with the small follow-on investment referred to above, brings the VCT's total investment in this company to £426,164.
This additional funding will be used to expand Monsal's core anaerobic digestion solutions business in the UK wastewater industry and provide infrastructure funding for bio-gas energy from waste projects.
SHARE BUY-BACKS
During the quarter the Company bought back a total of 476,335 of the Company's own shares at an average price of 72.61 pence per share. Following the end of the quarter the Fund bought back a further 196,029 shares at an average price of 76.39 pence per share.
For further information, please contact:
Sarah Penfold, for Matrix-Securities Limited, Company Secretary: 020 3206 7000
THE INCOME & GROWTH VCT PLC
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