Income & Growth VCT (The) PLC Interim Management Statement (2114E)

TIDMIGV

RNS Number : 2114E

Income & Growth VCT (The) PLC

07 February 2018

The Income & Growth VCT plc

(the "Company")

INTERIM MANAGEMENT STATEMENT

For the quarter ended 31 December 2017

The Income & Growth VCT plc presents an Interim Management Statement for the quarter ended 31 December 2017. The statement also includes relevant financial information between the end of the quarter and the date of this statement.

NET ASSET VALUE AND TOTAL RETURN PER SHARE

 
                                 At 31 December   At 30 September 
                                           2017              2017 
 Net assets attributable          GBP77,386,512     GBP64,348,751 
  to shareholders 
 Shares in issue                     94,040,850        79,204,702 
 Net asset value (NAV) 
  pence per share                         82.29             81.24 
 Cumulative dividends 
  paid to date pence per 
  share since inception                  102.50            102.50 
 Total return pence per 
  share since inception 
  (NAV basis)                            184.79            183.74 
 

(1) This figure is before deducting the final dividend of 3.00 pence per share for the year ended 30 September 2017 described below. The payment of this dividend on 15 February 2018 will reduce the net asset value per share to 79.29 pence and increase cumulative dividends paid per share since inception of the current share class to 105.50 pence.

DIVIDENDS

No dividends were paid during the quarter.

A final dividend of 3.00 pence per share for the year ended 30 September 2017 was approved by shareholders at the Annual General Meeting of the Company held on 7 February 2018 ("the AGM"). This dividend will be paid on 15 February 2018 to shareholders on the share register on 12 January 2018.

SHARE BUY-BACKS

On 20 December 2017, the Company bought back 608,299 of its ordinary shares at a price of 72.77 pence per share.

ISSUES OF EQUITY

In connection with the Company's current fundraising activity, a total of 15,444,447 ordinary shares were issued during the quarter at prices ranging between 81.21 and 87.36 pence per share.

INVESTMENT ACTIVITY

New Investments

On 21 November 2017, a further GBP0.09 million was invested in BookingTek Limited

On 5 December 2017, a further GBP0.15 million was invested in Mpb Group Limited.

On 18 January 2018, GBP0.45 million was invested into Proactive Investors.

Realisations

On 5 December 2017, a further GBP0.12 million was received from Alaric Systems Limited, an investment realised in a previous year.

On 19 December 2017, the Company realised its investment in Gro-Group Holdings Limited. GBP4.19 million has been received in cash by the Company while up to a further GBP0.14 million in deferred consideration is potentially payable over the next 12 months, of which GBP0.02 million was paid on 1 February 2018. Excluding deferred consideration, this transaction delivered the Company a realised gain over cost of GBP1.80 million, being 1.90 pence per share.

Loan Stock Repayments

On 1 and 2 November 2017 and 1 February 2018, TPSFF Holdings Limited made loan stock repayments of GBP0.04 million, GBP0.05 million and GBP0.08 million respectively.

Please note that all of the information above is unaudited.

Other than as described above, there were no material events during the quarter and to the date of this announcement.

For further information, please contact:

Robert King, for Mobeus Equity Partners LLP, Company Secretary: 020 7024 7600.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 07, 2018 08:36 ET (13:36 GMT)