8 May 2014 12:38
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 31 March 2014
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 31 March 2014. 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 31 March 2014 | At 31 December 2013 | |
Net assets attributable to Ordinary shareholders | £5,532,666
| £5,486,293
|
Ordinary Shares in issue | 11,311,329 | 11,311,329 |
Net asset value per Ordinary share | 48.91 pence | 48.50 pence |
Cumulative dividends paid | 22.5 pence | 22.5 pence |
PERFORMANCE
Net assets per Ordinary share increased by 0.84% during the quarter. This performance reflects the fact that more than 60% of the portfolio is in unquoted companies including loan stock valued at par and little change has been made to the unquoted valuations since 31 December 2013 as the year end valuations took into account the most recently available information up to the date of approving the accounts on 31 March 2014.
INVESTMENT ACTIVITY
During the quarter to 31 March 2013 the Company made available to Lime Technology a short term loan facility of £100,000 to move away from an invoice discounting facility where the terms and conditions were judged to onerous and expensive. The facility has been extended to end May 2014. The Company has also redeemed liquidity funds in preparation for the payment of the final dividend. There have been no other investment activities since the quarter end.
SHARE BUY-BACKS
During the quarter ended 31 March 2014 the company did not buy back any shares.
FINAL DIVIDEND
A final dividend of 2 pence per Ordinary Share was proposed on 31 March 2014 which, subject to shareholder approval will be payable on 6 June 2014 to shareholders who were on the register on 2 May 2013.
MATERIAL EVENTS
The Board is not aware of any significant event or transaction which has occurred between 31 March 2014 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:
Lesley Watkins at Neptune Calculus Income and Growth VCT plc: 020 7493 4940