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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Darwen | LSE:DHP | London | Ordinary Share | GB00B2PGSY66 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 25.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9152N Downing Healthcare Protectd.VCT PLC 22 June 2005 Downing Healthcare Protected VCT plc 22 June 2005 Downing Healthcare Protected VCT plc announces that it is sending a letter to all Shareholders updating them on the Company's recent activities. The letter is reproduced below: Dear Shareholder June 2005 - Shareholder Update and Capital Dividend I am writing to update you on activities at Downing Healthcare Protected VCT plc ("Downing Healthcare") over recent months. During March and April, your Company took advantage of the continuing strong market for care homes and the Investment Manager disposed of two investments, which are summarised below: Value at Profit 30 June 2004 Net Sales against Investment Cost Proceeds cost #'000 #'000 #'000 #'000 Evedale Care Home Limited 1,375 1,150 1,857 482 Downing (Barwell) Limited 580 575 718 138 Realised Gains 620 As a result of these disposals, your Company announces a Net Asset Value per share ("NAV") at 30 April 2005 of 104.9p, an increase of 6% since 31 December 2004. The realised gains on these two investments has enabled the Board to declare a capital dividend of 4p per share, to be paid on 15 July 2005 to shareholders on the register at 1 July 2005. Following the payment of this dividend the Company's NAV will fall, but original shareholders will have received total dividends of 30.7p per share, bringing the total return (NAV plus cumulative dividends) to 131.6p per share. With the disposal of the above investments and new investments being made in " asset-backed" areas outside the healthcare sector, the Company's decision to broaden its investment scope is now evident within the portfolio. The Board is, therefore, now proposing to change the name of the Company to avoid confusion from the continued use of the word "Healthcare". A circular is enclosed with this letter, giving further details of the proposed change. The Company has seen strong improvements in its performance over the last two years, mainly based on the increasing valuations of its investments. It has been very reassuring for the Board that the Investment Manager has been able turn previously unrealised gains into cash with the disposals set out above. Of the Company's original investments, the main "underachieving" investments have now been sold. The current focus of the Investment Manager is to reinvest some of the funds now available as the Company enters a new phase of its life. I look forward to updating Shareholders in my statement in the Annual Report for the year ended 30 June 2005, which will be published later in the year. Yours faithfully Chris Kay Chairman This information is provided by RNS The company news service from the London Stock Exchange END MSCKGGZVKZLGKZM
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