16 May 2008 10:31
Close Technology & General VCT PLC Interim Management Statement
Introduction
I am pleased to present the Company's interim management statement for the period from 1 January 2008 to 16 May 2008 as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
Financial Position and Performance
The Ordinary shares and C shares approximate unaudited net asset value (NAV) as at 31 March 2008 was 110.53 pence and 90.76 pence per share respectively. This is after accounting for a dividend of 4 pence per share for Ordinary shares and 1.5p per share for C shares which is payable on 30 May 2008.
Portfolio
In the period from 1 January 2008 to 16 May 2008 Close Technology & General VCT PLC has made new investments as follows:
Ordinary share portfolio
| Investment | Existing/New investee company | £'000s |
| Opta Sportsdata Limited | New | 110 |
| Consolidated Communications Management Limited | Existing | 33 |
| Blackbay Limited | Existing | 25 |
| Rostima Limited | Existing | 11 |
C share portfolio
| Investment | Existing/New investee company | £'000s |
| Opta Sportsdata Limited | New | 515 |
| Rostima Limited | Existing | 128 |
| Blackbay Group Limited | Existing | 60 |
Top Ten Qualifying Holdings (as at 31 Mar 2008)
| Holding | Carrying Value £'000s |
| Chichester Holdings Limited | 2,254 |
| Kensington Health Club Limited | 2,013 |
| Evolutions Television Limited | 1,734 |
| Xceleron Limited | 1,389 |
| Grosvenor Health Limited | 1,351 |
| The Q Garden Company Limited | 1,190 |
| The Weybridge Club Limited | 1,143 |
| Blackbay Limited | 1,072 |
| Churchill Taverns VCT Limited | 989 |
| Oxsensis Limited | 830 |
Material Events and Transactions
As mentioned above, a dividend of 4 pence per Ordinary share and 1.5p per C share is payable on 30 May 2008 to shareholders on the record as at 2 May 2008.
In the period from 1 January 2008 to 16 May 2008, your Company re-purchased 172,000 Ordinary shares at a price of 99.5 pence per share and 14,796 C shares at a price of 85 pence per share. The Ordinary shares purchased represent 0.35% of the total number of voting rights in the Company before the transaction and the C shares purchased represent 0.03% of the total number of voting rights in the Company before the transaction. These shares will be held in treasury. Buy-backs of treasury shares during the period were transacted through Winterflood Securities Limited, a subsidiary of Close Brothers Group plc, the ultimate parent company of the Manager.
The Company has offered a Dividend Reinvestment Scheme to existing shareholders on the register at 2 May 2008. Details of this Scheme can be found at www.closeventures.co.uk/Our Funds/Close Technology & General VCT PLC.
There have been no further significant events or transactions that the Board are aware of which would have a material impact on the financial position of the Company between the 1 January 2008 and 16 May 2008.
Information regarding historic and current financial performance and other useful shareholder information can be found on the Funds website under www.closeventures.co.uk/Our Funds/Close Technology & General VCT PLC.
16 May 2008
For further information, please contact:
Patrick Reeve
Close Ventures Limited
Tel: 020 7422 7830
Albion. Tch Vct (AATG)