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16 Jan 2009 14:29
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Ventus VCT plc
16Β January 2009
VENTUS VCT PLC
Interim Management Statement
Ventus VCT plc (the 'Company') presents itsΒ secondΒ interim management statement for the financial year ending 28Β February 2009, as requiredΒ by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
The Company published itsΒ most recentΒ Half-yearlyΒ FinancialΒ Report on 29Β OctoberΒ 2008.Β This interim management statement summarises theΒ information as at the date of theΒ Half-yearlyΒ FinancialΒ Report and further developments up toΒ the date of this statement.
Dividends
An interim dividendΒ for the financial year ending 28Β February 2009 of 1.50 pence per share was declared on 29 October 2008.Β This was paid on 14 January 2009Β to all shareholders on the register as at the close of business on 12 December 2008.Β
Net Asset Value
Net Asset Value ("NAV") as at 30 NovemberΒ 2008 totalled Β£17.1Β million or 114.1Β pence per share. Other than as a result of the payment of theΒ interimΒ dividend on 14 January 2009 there has been no significant change in NAV betweenΒ 30Β NovemberΒ 2008 and the date of this statement.
Investments
As at the date of this statement the Company holds investmentsΒ valued at Β£15.1Β million in aΒ total ofΒ fifteenΒ companies.Β Β£14.7Β million of this has been structured so as to beΒ classedΒ as qualifying holdings forΒ the purposes of VCT regulations. The CompanyΒ therefore continues toΒ operateΒ in compliance withΒ theΒ HM Revenue & CustomsΒ requirement for at leastΒ 70%Β ofΒ itsΒ total investmentsΒ to beΒ maintained in qualifying holdings.
For further detailsΒ of completed investmentsΒ please see the Investment Manager's Report in the Company'sΒ Half-yearlyΒ FinancialΒ ReportΒ dated 29 October 2008.
Other thanΒ asΒ described above, the Board is not aware of any material eventsΒ duringΒ the period from 1Β SeptemberΒ 2008Β to the date of this statement which would have hadΒ aΒ material impact on the financial position of the Company.
"C"Β Share IssueΒ
The Company announced onΒ 14Β NovemberΒ 2008Β that it isΒ planning to raise up to Β£15 million of new capital under a "C" share offer expected to be launchedΒ by the end ofΒ January 2009. The "C" share offer will be issued jointly with Ventus 2 VCT plc. The full terms of the offer will be set out in a detailed prospectus to be approved by the UK Listing Authority. The offer of "C" shares will be subject to the approval of Ventus VCTΒ plcΒ and Ventus 2 VCTΒ plcΒ shareholders, who will receive a circular explaining the details of the offer in due course.
Issued on behalf of the Board
Capita Company Secretarial Services Ltd,
Company Secretary
16Β January 2009
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