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Interim Management Statement

13 Jun 2013 15:55

RNS Number : 0180H
Maven Income and Growth VCT 2 PLC
13 June 2013
 



Maven Income and Growth VCT 2 PLC (the Company)

 

Interim Management Statement - quarter ended 30 April 2013

 

This Interim Management Statement, for the quarter ended 30 April 2013, 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 2013 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 58.57p at 30 April 2013, compared to 58.60p at 31 January 2013;

·; NAV total return2 of 81.44p at 30 April 2013, compared to 81.47p at 31 January 2013; and

·; Final dividend of 1.75p per Ordinary Share approved for payment on 21 June 2013.

 

1The NAV is unaudited and reflects the closing bid price of quoted securities at 30 April 2013. Unlisted companies are normally valued on a six-monthly basis; the NAV incorporates the Directors' valuation of unlisted investments as at 31 January 2013, 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 2013, a total of £1,431,624 was invested in four unlisted businesses, including the provision of support to two existing portfolio companies, and a net amount of £499,053 was invested in UK government securities. During the same period the full or partial disposal of holdings in four unlisted or AIM quoted investments generated proceeds of £962,545 against a cost of £254,368.

 

3. Recent developments

Between 1 May 2013 and the date of this statement, a total of £497,205 of additional funding was provided to four private companies in the portfolio and investments totalling £1,095,000 were made in three new private companies. During the same period, proceeds of £599,827 were realised on the disposal of UK government securities and the partial disposal of two holdings in unlisted companies generated aggregate proceeds of £361,274 against a total cost of £136,365.

 

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 2013 to 30 April 2013, or in the period from 1 May 2013 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

 

13 June 2013

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