Maven Grwth 3 Regulatory News (MIG3)

17 Oct 2008 14:14



Aberdeen Growth Opportunities VCT PLC 

Interim Management Statement 

1. Net Asset Value

Ordinary share net asset value (NAV) of 90.65p at 31 August 2008 (97.8p at 31 May 2008)

C Ordinary share net asset value (NAV) of 97.6p at 31 August 2008 (99.2p at 31 May 2008)

The NAVs shown above are unaudited and reflect the closing bid prices of quoted securities at 31 August 2008. Unlisted companies are normally valued on a six-monthly basis and the NAVs include the Directors' valuations of unlisted investments as at 31 May 2008 adjusted for material developments within the portfolios since that date.  

2. Investments and disposals

For the Ordinary share portfolio, during the quarter ended 31 August 2008, investments totalling £498,000 were made in six unlisted or AIM/PLUS quoted companies. During the same period, a combination of partial and complete disposals of five unlisted or AIM quoted investments generated aggregate proceeds of £486,400 against cost of £309,138.

For the C share portfolio, during the quarter ended 31 August 2008, investments totalling £698,000 were made in four unlisted or AIM/PLUS quoted companies. During the same period, a combination of partial and complete disposals of four unlisted or AIM quoted investments generated aggregate proceeds of £620,246 against cost of £380,289.

There were no other material transactions during the period under review. 

3. Recent developments 

No further investments have been made since 31 August 2008.

Since that date, a partial disposal of one investment from the Ordinary share portfolio generated proceeds of £1,516,000 against cost of £884,000 and a partial disposal of one investment from the C share portfolio, generated proceeds of £2,329,000 against cost of £1,359,000.

Being invested mainly in unlisted companies, the portfolio is to some degree protected from the current volatility of stock markets. However, the recent, dramatic fall in the value of stocks quoted on AIM has reduced the NAV of the Ordinary Shares by 8p and that of the C Shares by 5p as at close of business on 16 October. The Board is not aware of any other events or transactions that have taken place between 31 August 2008 and the date of publication of this statement that have had a material impact on the financial position of the Company.

Issued on behalf of the Board

Aberdeen Asset Management PLC, Secretary

17 October 2008