IBIS Media VCT 1 plc Portfolio Update (6490N)

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RNS Number : 6490N

IBIS Media VCT 1 plc

01 February 2016

IBIS Media VCT 1 plc (the "Company")

Portfolio Update

The Directors report that one of the Company's investments, Get Me Media Ltd, has entered liquidation.

The Company has written off its investment in Get Me Media, the cost of which to the Company was GBP881,442 and the impact of which is a reduction in the Company's net asset value by GBP1,161,518. This write down represents a decrease of approximately 20% in the Company's net asset value which was last reported as being 51.07p per share in the Half-Yearly Report for the six months ended 31 July 2015.

Trading at the Company's other investments remains in line with expectations.

The Company is scheduled to report a revised net asset value in the Company's Annual Report and Financial Statements for the year ended 31 January 2016 which will be announced in May 2016.

1 February 2016

For further information please contact:

Robin Smeaton, The City Partnership (UK) Limited, Company Secretary: 0131 243 7210

This information is provided by RNS

The company news service from the London Stock Exchange

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February 01, 2016 07:40 ET (12:40 GMT)