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9 Nov 2012 17:01
Interim Management Statement
Maven Income and Growth VCT 4 PLC
Interim Management Statement
1. Net Asset Value
·; Ordinary share NAV Total Return of 121.97p per share and NAV of 97.42p at 30 September 2012.
·; S Ordinary share NAV Total Return of 120.67p per share and NAV of 109.07p at 30 September 2012.
The NAVs shown above are unaudited and reflect the closing bid prices of quoted securities at 30 September 2012. Unlisted companies are normally valued on a six-monthly basis and the NAVs include the Directors' valuations of unlisted investments as at 30 June 2012 adjusted for material developments within the portfolios since that date.
2. Investments and disposals
During the quarter ended 30 September 2012, the Ordinary share portfolio invested £191,000 in private equity investments. During the same period, disposals generated aggregate gains on disposal of £209,181 from investments with a cost of £287,213.
The S share portfolio invested £122,000 in private equity investments during the same period, and aggregate gains on disposal of £356,180 from investments with a cost of £299,496.
There were no other material transactions during the period under review.
3. Potential merger
On 31 October 2012 the Board announced that the Company had recently entered discussions with Ortus VCT to merge the two companies. Any merger would be completed pursuant to a s.110 scheme of reconstruction under the Insolvency Act 1986 by transferring the assets and liabilities of Ortus VCT PLC to the Company in consideration for new shares in the Company. A merger on this basis will be outside the provisions of The City Code on Takeovers and Mergers.
The Board is not aware of any other events or transactions that have taken place between 30 June 2012 and the date of publication of this statement which would have had a material impact on the financial position of the Company.
Issued on behalf of the Board
Maven Capital Partners UK LLP, Secretary
9 November 2012
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