Inc&gwth Vct Regulatory News (IGV)

12 Aug 2009 12:37

The Income & Growth VCT plc (the Company)

INTERIM MANAGEMENT STATEMENT For the quarter ended 30 June 2009

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 2009. 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

Ordinary Share Fund S Share Fund At 30 June At 31 March At 30 June At 31 March 2009 2009 2009 2009 Net assets attributable 25,993,224GBP27,068,820 11,058,357 11,122,800to shareholders Shares in issue 34,946,257 35,055,303 11,806,467 11,806,467 Net asset value (NAV) per 74.38 p 77.22 p 93.66 p 94.21 pshare * Cumulative dividends 20.45 p 20.45 p 0.00 p 0.00 ppaid to date per share Total return per share 94.83 p 97.67 93.66 p 94.21 psince inception (NAV basis)* ------------------------ * NAV per share includes 0.47 p 0.38 p 0.21 p 0.38 pcurrent year income of SHARE BUY-BACKS and ISSUES

During the quarter the Ordinary Share Fund bought back a total of 109,046 Ordinary Shares at an average price of 46.63 pence per share.

NEW INVESTMENTS

The Ordinary Share Fund and the S Share Fund invested 389,703 and 169,483respectively to support the MBO of Westway Cooling which was completed in June2009. Based in Greenford, Middlesex, Westway specialises in installing,servicing and maintaining high quality air-conditioning systems and associatedbuilding services plant in the refurbishment and maintenance market.

DIVESTMENTS

Just after the period end, at the beginning of July, the Ordinary Share Fundsold its investment in Tottel Publishing Limited, the specialist publisher oflegal and tax titles to Bloomsbury Group, earning a fourfold gain on theinitial investment of 514,800 and returning total proceeds of 2.05 million.The net asset value at 30 June 2009 includes the impact of this transaction.

The Fund's original investment of 514,800 had already been reduced to 325,182 in March of this year when Tottel repaid 50% of the Fund's loan stock.

DiGiCo Europe Limited also made a partial loan repayment to the Ordinary Share Fund of 142,804 at a premium of 10,634 in May 2009.

For further information, please contact:

Sarah Penfold, for Matrix-Securities Limited, Company Secretary: 020 3206 7000