16 Nov 2012 09:45
Neptune Calculus Income and Growth VCT plc - Interim Management Statement
Neptune Calculus Income and Growth VCT plc (the company)
INTERIM MANAGEMENT STATEMENT
For the quarter ended 30 September 2012
In accordance with rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority, Neptune Calculus Income and Growth VCT plc presents an Interim Management Statement for the quarter ended 30 September 2012. 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 2012 | At 30 June 2012 | |
Net assets attributable to Ordinary shareholders | £6,398,662 | £6,375,000 |
Ordinary Shares in issue | 11,351,880 | 11,351,880 |
Net asset value per Ordinary share | 56.37 pence | 56.16 pence |
Cumulative dividends paid | 18.5 pence | 18.5 pence |
An interim dividend of 1 penny per Ordinary Share was paid on 17 October 2012 to shareholders on the register on 21 September 2012, taking the cumulative dividends paid to date to 19.5 pence.
PERFORMANCE
Net assets per Ordinary share increased by 0.4% during the quarter. During this period the FTSE-All share increased by 3.7%. The quoted shares in the portfolio rose by 19% on a like for like basis principally due to a strong performance from Epistem Holdings plc. However this was offset by a write down of the carrying value of Lime Technology in the unquoted portfolio.
INVESTMENT ACTIVITY
The Company has made an investment of £250,000 in Secure Electrans Limited a payments and technology software company. This company has patented technology to address fraud related 'card not present' (i.e. internet) transactions. It has developed an end-to-end payments and security infrastructure which incorporates Chip & PIN for which it has received EMV (EuroPay, MasterCard, Visa), American Express and PCI (Payment Card Industry) PTS 3.1 global certification. Secure Electrans is one of only 10 companies globally to have achieved this certification and the only one within this sector. Out of the total investment of £250,000, £150,000 was made during the period and £100,000 shortly after the period end. These purchases have been funded by approximately £40,000 of sales of shares of smaller holdings in the quoted portfolio and the balance from sales of some of the Neptune Funds.
SHARE BUY-BACKS
During the quarter ended 30 September 2012 the company did not buy back any shares.
MATERIAL EVENTS
Other than described above, the Board is not aware of any significant event or transaction which has occurred between 30 September 2012 and the date of publication of this Interim Management Statement which would have a material impact on the financial position of the Company.
For further information please contact:
John Glencross of Neptune Calculus Income and Growth VCT plc: 020 7493 4940