IONA Environmental VCT PLC Interim Management Statement (8949J)

TIDMION1

RNS Number : 8949J

IONA Environmental VCT PLC

13 August 2012

Iona Environmental VCT Plc ("the Company")

Interim Management Statement

13 August 2012

This is an Interim Management Statement issued by the Company in accordance with the FSA's disclosure and transparency rule 4.3. This statement relates to the period from 1 April 2012 to 13 August 2012.

Unaudited Net Asset Value Per Share

The net assets of the Company have changed slightly during the period. As at 30 June 2012, the unaudited net asset value was 84.0p per Ordinary Share, 1.7p per A Share and 90.5p per B Share compared with 87.7p per Ordinary Share and 1.8p per A Share at 30th September 2011 (B Shares were allotted only from April to June 2012).

David Eades, Iona Environmental VCT Plc's Chairman, said:

The fund remains well positioned to take advantage of a growing market opportunity in waste to energy infrastructure investments. This market is being driven by the Government's target to generate 15% of the UK's energy requirement from renewable sources by 2020 and landfill diversion targets supported by the landfill escalator tax.

Issue of a Prospectus and Circular

On 4 July 2011 the Company published a prospectus in relation to offers for subscription of a new class of B Shares. The Company has raised GBP804,000 in total under the B Share prospectus, which closed on 30 June 2012.

Investments

In the period the Company invested a further GBP244,000 in Rosewood Energy Ltd and Biogen UK Ltd as part of its commitment to invest up to GBP720,000 to support the expansion of an existing biogas facility in Northamptonshire.

Iona Capital and BiogenGreenfinch also completed an investment in the North West Wales AD hub and were recently awarded preferred bidder status on the North East Wales hub which is due to be built in the next twelve months. These contracts have long term supply agreements for domestic food waste.

Share Buybacks

No shares have been bought back during the period. As at 13 August 2012, the number of Ordinary Shares in issue was 5,345,499, the number of A Shares in issue was 8,018,246 and the number of B Shares in issue was 835,360.

Ends

For information please contact:

   Iona Capital 0207 629 9166   [e-mail] 

This statement aims to give an indication of material events and transactions that have taken place during the period from 1 April 2012 to the date of publication of this statement and their impact on the financial position of Iona 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 differences 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

IMSBDGDIIGBBGDX