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Interim Management Statement

19 Nov 2013 15:12

RNS Number : 4364T
Neptune-Calculus Income &Growth VCT
19 November 2013
 



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 2013

 

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 2013. 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 2013

At 30 June 2013

Net assets attributable to Ordinary shareholders

£5,960,185

£6,270,000

Ordinary Shares in issue

11,311,329

11,311,329

Net asset value per Ordinary share

52.69 pence

55.43 pence

Cumulative dividends paid

21.5 pence

21.5 pence

 

An interim dividend of 1 penny per Ordinary Share was paid on 16 October 2013 to shareholders on the register on 20 September 2012, taking the cumulative dividends paid to date to 22.5 pence.

 

PERFORMANCE

Net assets per Ordinary share decreased by 4.9% during the quarter. The reduction is attributable to the investment in AIM quoted Epistem Holdings plc (Epistem) which, although still valued at 300% of original cost, saw a decline it its share price following the termination of a supply and distribution agreement with Becton Dickinson for its product "Genedrive". The Board remains positive on the longer term prospects for Epistem. The remainder of the quoted portfolio increased by 30% on a like for like basis compared with the FTSE-All share which increased by 4.7%. There was no significant movement in the unquoted portfolio or the Neptune Funds.

 

INVESTMENT ACTIVITY

 

During the period, the company sold its holding of Pressure Technologies Limited for approximately £340,000 and made a further £75,000 investment in Secure Electrans Limited loan stock a payments and technology software company. This company has patented technology to address fraud related 'card not present' (i.e. internet) transactions. Since the period end the Company has invested £100,000 in Dryden Human Capital Group Limited, an international recruitment firm which specialises in the actuarial, insurance, compliance and wealth management markets with a network of offices across Asia.

 

MATERIAL EVENTS

Other than described above, the Board is not aware of any significant event or transaction which has occurred between 30 September 2013 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

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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