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19 Oct 2012 14:15
Maven Income and Growth VCT 3 PLC
Interim Management Statement
1. Net Asset Value
The NAV was 81.24p and the Ordinary share NAV Total Return was 112.69p at 31 August 2012 (82.6p and 112.05p at 31 May 2012). The NAV Total Return is calculated as the NAV plus dividends paid.
The NAV shown above is unaudited and reflects the closing bid prices of quoted securities at 31 August 2012. Unlisted companies are normally valued on a six-monthly basis and the NAVs include the Directors' valuations of unlisted investments as at 31 May 2012 adjusted for material developments within the portfolios since that date.
2. Investments and disposals
During the quarter ended 31 August 2012, two new and three follow-on investments totalling £854,000 were made in unquoted companies. During the same period disposals generated aggregate proceeds of £3,038,435 compared with cost of £1,794,633.
There were no other material transactions during the period under review.
3. Recent developments
The Board is not aware of any other events or transactions that have taken place between 31 August 2012 and the date of publication of this statement and which would have had a material impact on the financial position of the Company, other than the decision taken by shareholders at the General Meeting held on 16 October 2012 to implement the Enhanced Buyback Scheme set out in the circular to shareholders dated 21 September 2012. Shareholders are reminded that the deadline for applications is 29 October 2012.
Issued on behalf of the Board
Maven Capital Partners UK LLP, Secretary
19 Oct 2012
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