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13 Jan 2010 16:30
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Interim Management Statement
Maven Income and Growth VCT PLC (the Company)Β - quarter ended 30Β NovemberΒ 2009
This Interim Management Statement, for the quarter endedΒ 30Β NovemberΒ 2009Β is provided in accordance with Rule 4.3 of the Disclosure and TransparencyΒ Rules of the UK Listing AuthorityΒ andΒ also includes relevant informationΒ in respect of the period from 1Β DecemberΒ 2009Β toΒ the date ofΒ issue.Β This Statement has been prepared solely to provide additional informationΒ in orderΒ to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules, and should not be relied on by Shareholders, or any other party, for any other purpose.
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1. |
Financial highlights |
Net Asset Value (NAV)*Β ofΒ 62.3pΒ per shareΒ atΒ 30 NovemberΒ 2009Β compared toΒ 60.8p per share atΒ 31 AugustΒ 2009; and
InterimΒ dividendΒ ofΒ 1.0p per shareΒ paidΒ onΒ 11Β DecemberΒ 2009.
*The NAVΒ is unaudited andΒ reflects theΒ closing bid price of quoted securities atΒ 30 NovemberΒ 2009. Unlisted companies areΒ normallyΒ valued on a six-monthly basis and the NAV incorporates the Directors'Β valuationΒ of unlistedΒ investmentsΒ asΒ atΒ 31 AugustΒ 2009, adjusted for subsequent events where appropriate.Β
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2. |
Investments and disposals |
During the quarter endedΒ 30 NovemberΒ 2009,Β investmentsΒ totallingΒ Β£31,000 were made in one unlisted company andΒ one AIMΒ quoted company.
DuringΒ theΒ same period, a combination of partial and complete disposals ofΒ threeΒ unlisted investment andΒ twoΒ AIM quoted investments generated aggregate proceeds of Β£2,193,000 against cost of Β£1,447,000.Β
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3. |
Recent developmentsΒ |
BetweenΒ 30 NovemberΒ 2009Β and the date of this statement, an investment of Β£428,000 was made an unlisted
company. DuringΒ the same post quarter-end period,Β disposalsΒ ofΒ 1Β unlistedΒ 3Β AIM quoted investments generatedΒ aggregateΒ proceeds of Β£119,000Β against cost of Β£125,000Β and Β£1,600,000 ofΒ UKΒ treasury stock was redeemed at par.
With effect from 14 December 2009, and subsequent to the passing of a Special Resolution by Shareholders in a General Meeting held on 10 December 2009, the name of the Company was changed from Aberdeen Income and Growth VCT PLC to Maven Income and Growth VCT PLC.
Other than described aboveΒ and changes inΒ theΒ value of investments quoted on regulated markets,Β theΒ Board is not aware of anyΒ material events during the period from 1Β SeptemberΒ toΒ 30Β NovemberΒ 2009,Β or in the period from 1Β DecemberΒ 2009Β to the date of this announcement, which would have had a material impact on the financial position of the Company.
Issued on behalf of the Board
Maven Capital PartnersΒ UKΒ LLP, Secretary
13Β January 2010
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