18 Aug 2008 12:23
Close Brothers Venture Capital Trust PLC Interim Management Statement
Introduction
I am pleased to present your Company's interim management statement for the period from 1 April 2008 to 18 August 2008 as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
Financial Position and Performance
The Company's approximate unaudited net asset value (NAV) as at 30 June 2008 was 105.47 pence per share. This is after accounting for a dividend of 5 pence per share which was paid on 15 August 2008.
Portfolio
In the period from 1 April 2008 to 18 August 2008 Close Brothers Venture Capital Trust PLC have made seven investments, three existing investments totalling £21,919 and four investments noted below, one being a new investment.
| Investment | Existing/New investee company | £'000s |
| Sky Hotel Heathrow Limited | Existing | 1,000 |
| The Place Sandwich VCT Limited | Existing | 390 |
| Droxford Hospital Limited | New | 313 |
| The Crown Hotel Harrogate Limited | Existing | 200 |
Top Ten Qualifying Holdings (as at 30 June 2008)
| Holding | Carrying Value £'000s |
| Kew Green VCT (Stansted) Limited | 8,841 |
| G&K Smart Developments VCT Limited | 3,000 |
| The Crown Hotel Harrogate Limited | 2,565 |
| Sky Hotel Heathrow Limited | 2,000 |
| Prime VCT Limited | 1,900 |
| The Bear Hungerford Limited | 1,837 |
| City Screen (Cambridge) Limited | 1,678 |
| Chase Midland VCT Limited | 1,562 |
| The Weybridge Club Limited | 1,413 |
| The Place Sandwich VCT Limited | 1,334 |
Material Events and Transactions
As mentioned above, a dividend of 5 pence per share was paid on 15 August 2008.
In the period from 1 April 2008 to 18 August 2008, your Company re-purchased 277,781 Ordinary shares at a price of 89 pence per share. This represents 0.78% 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.
On 15 August 2008 and under the terms of the Dividend Reinvestment Scheme, your Company allotted 49,832 ordinary shares of 50p each in the capital of the Company. In accordance with the Circular dated 10 July 2008, the shares were issued at a price of 104.9p.
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 April 2008 to 18 August 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 Brothers Venture Capital Trust PLC.
18 August 2008
For further information, please contact:
Patrick Reeve
Close Ventures Limited
Tel: 020 7422 7830
Albion Venture (AAVC)