IONA Environmental VCT PLC Interim Management Statement (0273A)

TIDMION1

RNS Number : 0273A

IONA Environmental VCT PLC

13 February 2014

Iona Environmental VCT Plc ("the Company")

Interim Management Statement

13 February 2014

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 October 2013 to 13 February 2014.

Unaudited Net Asset Value Per Share

As at 31 December 2013, the unaudited net asset value was 86.00p per Ordinary Share, 1.8p per A Share and 84.4p per B Share compared with 85.5p per Ordinary Share, 1.8p per A Share and 84.9p per B Share as at 30 September 2013.

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

The Board is encouraged by the Company's progress as two of the Company's AD projects commenced commissioning in the period. Both Stanley Renewable and Howla Hay Farm have been built on time and budget and should shortly start exporting electricity to the grid. Both projects have been pre-accredited under the Government's Feed in Tariff scheme for renewable energy. As reported in the Half Yearly Report the investment in R3 was revalued downwards. This investment remains problematic and continues to receive close attention from the Investment Manager.

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.

Share Capital and Buybacks

On 29 January 2014, the High Court approved the cancellation of the Company's Share Premium Account which will enable the Company to pay dividends.

No shares have been bought back during the period. As at 11 February 2014, 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 October 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

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