Sign In
6 Jun 2011 07:00
Ventus VCT plc (the "Company")
06 June 2011
Revised Wind Yield Analyses and Adjustment to Net Asset Value (unaudited)
The Board and the investment manager of the Company, Climate Change Capital Limited ("CCC"), in accordance with their valuation policies, have had updated operational wind yield analyses commissioned for mature wind farms operated by four investee companies: Craig Wind Farm Limited, Fenpower Ltd, A7 Lochhead Limited, and Greendykeside Limited. This also impacts on Firefly Energy Limited because part of its valuation is dependent on the expected generation level at three of these companies. Revised valuations for the four companies with mature wind farms, as well as for Firefly Energy Limited, have been calculated in accordance with the new wind analyses, leading to a reduction in net asset value of £1,035,505, or 6.32 pence per share. These adjustments are as yet unaudited. These revised wind yield analyses primarily reflect a recent industry-wide change in methodology for analysing long-term wind yields in the UK. The revaluations do not impact the NAV of the Company's "C" Shares.
Further information about the updated wind yield analyses will be contained in the Company's Annual Report for the year ended 28 February 2011.
Investment Manager
CCC has informed the Board that its lead manager for the Company, Steve Read, has resigned his employment with CCC.
Enquiries should be directed to Robin Smeaton at The City Partnership (UK) Limited on 0131 243 7210.
Follow the stocks
