16 May 2013 12:43
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 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 31 March 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 31 March 2013 | At 31 December 2012 | |
Net assets attributable to Ordinary shareholders | £6,450,784 | £6,435,159 |
Ordinary Shares in issue | 11,351,880 | 11,351,880 |
Net asset value per Ordinary share | 56.83 pence | 56.69 pence |
Cumulative dividends paid | 19.5 pence | 19.5 pence |
PERFORMANCE
Net assets per Ordinary share increased by 0.24% during the quarter. This performance reflects the fact that more than 50% 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 2012 as the year end valuations took into account the most recently available information up to the date of approving the accounts on 27 March 2013.
INVESTMENT ACTIVITY
During the quarter to 31 March 2013 the Company realised £75,000 when Terrain Energy Limited redeemed a tranche of its loan stock held by the Company. Subsequent to the quarter end, a £17,000 top up investment was made in Secure Electrans Limited loan stock and the company realised approximately £4000 from the sale of small holdings of quoted investments
SHARE BUY-BACKS
During the quarter ended 31 March 2013 the company did not buy back any shares.
FINAL DIVIDEND
A final dividend of 2 pence per Ordinary Share was proposed on 27 March 2013 which, subject to shareholder approval will be payable on 7 June 2013 to shareholders who were on the register on 3 May 2013.
MATERIAL EVENTS
The AGM at which resolutions inter alia to approve the continuation of the Company as a Venture Capital Trust and to enable the Enhanced share buyback to take place will be held on 30 May 2013. Over 99 per cent of the proxies received to date have been in favour of continuation and the enhanced share buyback. Other than described above, the Board is not aware of any significant event or transaction which has occurred between 31 March 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:
Lesley Watkins at Neptune Calculus Income and Growth VCT plc: 020 7493 4940