IONA Environmental VCT PLC Interim Management Statement (7131L)

TIDMION1

RNS Number : 7131L

IONA Environmental VCT PLC

14 August 2013

Iona Environmental VCT Plc ("the Company")

Interim Management Statement

14 August 2013

This is an Interim Management Statement issued by the Company in accordance with the FCA's disclosure and transparency rule 4.3. This statement relates to the period from 1 April 2013 to 14 August 2013.

Unaudited Net Asset Value Per Share

As at 30 June 2013, the unaudited net asset value was 84.7p per Ordinary Share, 1.8p per A Share and 86.2p per B Share compared with 83.7p per Ordinary Share, 1.7p per A Share and 87.0p as at 31 March 2013.

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

The Board is encouraged by the Company's progress and expects to initiate dividend payments once the underlying projects come to fruition later in the year. The anaerobic digestion market continues to offer good long term returns to investors, aided by the UK Government's long term financial support for the sector.

Investments

During the period the Company invested a total of GBP75,000 alongside other investors in R3 Products Limited (R3) to provide additional working capital. R3 also received a WRAP loan for an additional GBP238,000.

R3's 'R-Pave' recycled grid protection system now has over three months' forward orders and the additional investment will enable an increase in the production capacity.

Both the Stanley Renewables Ltd and JFS Howla Hay Biogas Ltd projects are on track to complete construction by October this year.

Share Buybacks

No shares have been bought back during the period. As at 14 August 2013, 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 Ltd 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 2013 to the date of publication of this statement and their effect 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

IMSBXGDISSBBGXS