28 Nov 2012 16:12
RNS ANNOUNCEMENT
Ventus VCT plc
28 November 2012
Disposal of investment in Craig Wind Farm Limited
The Directors of Ventus VCT plc ("the Company") are pleased to announce that the Company has sold its investment in Craig Wind Farm Limited ("CWFL") to Partnerships for Renewables Limited ("PfR"). PfR is a renewable energy developer focusing primarily on public sector land. CWFL owns and operates a 10 megawatt wind farm in Dumfries and Galloway, Scotland. The Company made its investment in CWFL in 2006.
PfR has acquired the Company's 37.5% equity holding in CWFL, as well as the Company's outstanding loan to CWFL. The sale to PfR has resulted in an increase in the unaudited net asset value ("NAV") of the Company's ordinary share fund, compared to the unaudited NAV as at 31 August 2012, of £1,302,000. The new unaudited NAV of the Company's ordinary share fund is now 121.9 pence per ordinary share, an uplift of 8.0 pence per ordinary share from the unaudited NAV as at 31 August 2012.
The sale of CWFL does not impact the NAV of the Company's "C" share fund.
Temporis Capital LLP, the investment manager of the Company, acted as advisor to CWFL in the sale transaction.
For further information please contact Doreen Nic of The City Partnership (UK) Limited on 0131 243 7210.