Mobeus I&g Regulatory News (MIX)

14 Nov 2011 09:45

Matrix Income & Growth VCT plc (the Company) INTERIM MANAGEMENT STATEMENT For the quarter ended 30 September 2011

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority, Matrix Income & Growth VCT plc presents an Interim Management Statement for the quarter ended 30 September 2011. The statement also includes relevant financial information between the end of the period and the date of this statement.

NET ASSET VALUE AND TOTAL RETURN PER SHARE

At 30 September At 30 June 2011 2011 Net assets attributable to shareholders £37,788,384 £39,494,397 Shares in issue 43,004,098 43,476,236 Net asset value per Ordinary Share 87.87 p 90.84 p Cumulative dividends paid 26.80 p 26.30 p Total net asset value return per share since 114.67 p 117.14 pinception % return on opening net asset value of 94.5 21.34% 23.96%pence per share

NEW INVESTMENTS and DIVESTMENTS

In July 2011, the Company completed an investment of £1,840,384 to support the MBO of Motorclean Group, the UK's leading provider of vehicle cleaning and valet services to the car dealership market.

£117,226 of a new loan stock funding round into Monsal Holdings Limited was drawn down in July and August 2011.

In October 2011, the VCT made an investment of £1,298,031 to provide mezzanine finance as part of a £7.8m transaction to support the acquisition of the international intellectual property and assets of Lowe Alpine Srl from administration in Italy by Equip Outdoor Technologies Limited, a company specialising in owning and distributing brands focused on the outdoor sector.

Earlier this month, the Company completed an investment of £762,336, alongside £1,000,000 from its acquisition vehicle, Vanir Consultants Limited, to support the MBO of EMaC Limited, thereby making a total investment of £1,762,336. EMaC is the UK's leading provider of outsourced Service Plans to franchised dealers in the automotive sector.

No divestments were made during the period.

SHARE BUY-BACKS

During the quarter ended 30 September 2011, the Company bought-back 643,195 of its own Ordinary Shares at an average price of 78.7 pence per share.

Following the end of the quarter the Company bought back a further 64,371 of its own Ordinary Shares at a price of 77.3 pence per share.

INTERIM DIVIDEND

The Company paid an interim income dividend of 0.5 pence per share on 15 September 2011 to Shareholders on the Register on 19 August 2011 bringing cumulative dividends paid per share to 26.8 pence.

LINKED MATRIX FUNDRAISING

The Company participated with Matrix Income & Growth 4 VCT plc and The Income & Growth VCT plc in a Matrix VCT linked fundraising ("the Offer") that closed on 30 June 2011. A total of £16.2 million was subscribed for under the Offer across the three VCTs of which £5.4 million was raised by the Company.

During the quarter ended 30 September 2011, the Company issued and allotted a total of 171,057 ordinary shares under the Offer at 95.3 pence per share, raising net proceeds of £154,321.

For further information, please contact:

Sarah Penfold, for Matrix Private Equity Partners LLP, Company Secretary: 020 3206 7000.