Interim Management Statement

 

TIDMAEV1 
 
RNS Number : 1244P 
Acuity Environmental VCT PLC 
09 July 2010 
 

                  Acuity Environmental VCT Plc ("the Company") 
                          Interim Management Statement 
                       For the quarter ended 30 June 2010 
 
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK 
Listing Authority, Acuity Environmental VCT presents its first Interim 
Management Statement for the quarter ended 30 June 2010. The statement also 
includes relevant financial information between the end of the period and the 
date of this statement. 
 
Unaudited Net Asset Value Per Ordinary Share and A Share as at 30 June 2010 
 
The unaudited net asset value at 30 June 2010 was 93.3 per Ordinary Share. This 
compares to the initial NAV per Ordinary Share of 94.5p on subscription before 
the impact of issuing early subscription shares and bonus shares issued to 
shareholders due to IFAs' waiving commission. The Company has issued 125,677 
early subscription and bonus Ordinary Shares, representing 2.4% of total shares 
currently issued. 
 
The decrease of 1.3% is due primarily to the issue of the early subscription 
Ordinary Shares and to operating costs incurred by the Company. These costs do 
not include Board and Investment Management costs. On 6 April 2010, the Company 
announced that the Board and Investment Manager had agreed to waive all the 
respective director, investment management and administration fees due from the 
Company until such time as total funds raised by the Company exceed GBP8 
million. 
 
The unaudited Net Asset Value per A Share at 30 June 2010 remained unchanged at 
0.1p per A Share. 
 
At 30 June 2010, the Company had raised GBP5.0 million under the Prospectus 
dated 19 November 2009 before an initial capital raising fee of 5.5% of the 
gross proceeds subscribed. 
 
Investments and Realisations 
 
As at 30 June 2010, no investment had been made by the Company. 
 
During the three months to 30 June 2010, the Company had made no realisations. 
 
Since the quarter end to the date of publication of this statement the Company 
has made no further investments or realisations. 
 
Investment Pipeline 
 
Working with operating and financial partners, the Investment Manager has 
continued to identify potential investments with the value of such projects 
increasing to over approximately GBP100 million. The Board has noted with 
enthusiasm the Coalition Government's endorsement of anaerobic digestion in its 
Agreement dated 11 May 2010 in which it stated that the parties agree to 
implement "measures to promote a huge increase in energy from waste through 
anaerobic digestion". 
 
Other than described above, the Board is not aware of any events during the 
period from 1 April 2010 to the date of this statement which would have had a 
material impact on the financial position of the Company. 
 
At the date of this statement, the number of shares in issue was 5,177,727 
Ordinary Shares and 6,527,727 A shares. 
 
Ends 
For information please contact: 
 
Nick Ross, Director, 
Acuity Environmental VCT Plc 
020 7306 3901 
 
This statement aims to give an indication of material events and transactions 
that have taken place during the period from 1 April 2010 to the date of 
publication of this statement and their impact of the financial position of 
Acuity Environmental VCT Plc. These indications reflect the Board's current 
view. They are subject to a number of risks and uncertainties and could change. 
Factors which could cause or contribute to such difficulties include, but are 
not limited to, general economic and market conditions and specific factors 
affecting the financial prospects or performance of individual investments 
within the Company's portfolio. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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