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Interim Management Statement

19 Jun 2014 16:17

RNS Number : 0842K
Maven Income and Growth VCT 2 PLC
19 June 2014
 

Maven Income and Growth VCT 2 PLC (the Company)

 

This Interim Management Statement, for the quarter ended 30 April 2014, is provided in accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority and also includes relevant information in respect of the period from 1 May 2014 to the date of issue. This Statement has been prepared solely to provide information in order 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.

 

1. Financial highlights

· Net asset value (NAV)1 per Ordinary Share of 60.05p at 30 April 2014, compared to 60.70p at 31 January 2014;

· NAV total return2 of 86.52p at 30 April 2014, compared to 87.17p at 31 January 2014; and

· Final dividend of 2.00p per Ordinary Share approved for payment on 20 June 2014.

 

1The NAV is unaudited and reflects the closing bid price of quoted securities at 30 April 2014. Unlisted companies are normally valued on a six-monthly basis; the NAV incorporates the Directors' valuation of unlisted investments as at 31 January 2014, adjusted for subsequent events where appropriate.

2NAV total return is the sum of NAV and dividends paid per Ordinary Share since launch.

 

2. Investments and disposals

During the quarter ended 30 April 2014, a total of £1,771,723 was invested in eight unlisted businesses and £999,174 was invested in UK government securities. During the same period the full or partial disposal of holdings in three unlisted or AIM quoted investments generated proceeds of £963,222 against a cost of £1,372,412.

 

3. Recent developments

Between 1 May 2014 and the date of this statement, a total of £130,327 of additional funding was provided to two private companies in the portfolio and a net amount of £498,928 was invested in UK government securities. During the same period, the full or partial disposal of four holdings in unlisted companies generated aggregate proceed of £317,392 against a total cost of £274,497. In addition, proceeds and a gain of £19,136 was realised following the partial sale of two quoted investments.

 

Other than as described above and the impact of movements related to the prices of shares in quoted securities, the Board is not aware of any material events during the period from 1 February 2014 to 30 April 2014, or in the period from 1 May 2014 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 Partners UK LLP

Secretary

 

19 June 2014

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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