VEN.L Regulatory News (VEN)

16 Jan 2009 14:29



Ventus VCT plc

16 January 2009

VENTUS VCT PLC

Interim Management Statement

Ventus VCT plc (the 'Company') presents its second interim management statement for the financial year ending 28 February 2009, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.

The Company published its most recent Half-yearly Financial Report on 29 October 2008. This interim management statement summarises the information as at the date of the Half-yearly Financial Report and further developments up to the date of this statement.

Dividends

An interim dividend for the financial year ending 28 February 2009 of 1.50 pence per share was declared on 29 October 2008. This was paid on 14 January 2009 to all shareholders on the register as at the close of business on 12 December 2008. 

Net Asset Value

Net Asset Value ("NAV") as at 30 November 2008 totalled £17.1 million or 114.1 pence per share. Other than as a result of the payment of the interim dividend on 14 January 2009 there has been no significant change in NAV between 30 November 2008 and the date of this statement.

Investments

As at the date of this statement the Company holds investments valued at £15.1 million in a total of fifteen companies. £14.7 million of this has been structured so as to be classed as qualifying holdings for the purposes of VCT regulations. The Company therefore continues to operate in compliance with the HM Revenue & Customs requirement for at least 70% of its total investments to be maintained in qualifying holdings.

For further details of completed investments please see the Investment Manager's Report in the Company's Half-yearly Financial Report dated 29 October 2008.

Other than as described above, the Board is not aware of any material events during the period from 1 September 2008 to the date of this statement which would have had a material impact on the financial position of the Company.

"C" Share Issue 

The Company announced on 14 November 2008 that it is planning to raise up to £15 million of new capital under a "C" share offer expected to be launched by the end of 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 VCT plc and Ventus 2 VCT plc 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

16 January 2009