19 Nov 2013 15:12
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