Income & Growth VCT (The) PLC Interim Management Statement - 1st Quarter (2822P)

TIDMIGV

RNS Number : 2822P

Income & Growth VCT (The) PLC

06 February 2019

The Income & Growth VCT plc

(the "Company")

INTERIM MANAGEMENT STATEMENT

For the quarter ended 31 December 2018

The Income & Growth VCT plc presents an Interim Management Statement for the quarter ended 31 December 2018. 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 
                                                      2018              2018 
 Net assets attributable to shareholders     GBP82,775,487     GBP82,583,714 
 Shares in issue                               105,088,384       105,438,384 
 Net asset value (NAV) per share                  78.77(1)             78.32 
 Cumulative dividends paid to 
  date per share since inception                    108.00            108.00 
 Total return per share since 
  inception (NAV basis)                             186.77            186.32 
 

(1) This figure is before deducting the final dividend of 3.50 pence per share for the year ended 30 September 2018 described below. The payment of this dividend on 15 February 2019 will reduce the net asset value per share to 75.27 pence and increase cumulative dividends paid per share since inception of the current share class to 111.50 pence.

DIVIDENDS

No dividends were paid during the quarter.

A final dividend of 3.50 pence per share for the year ended 30 September 2018 was approved by shareholders at the Annual General Meeting of the Company held on 6 February 2019 ("the AGM"). This dividend will be paid on 15 February 2019 to shareholders on the share register on 11 January 2019.

SHARE BUY-BACKS

On 14 December 2018, the Company bought back 215,000 of its ordinary shares at a price of 68.50 pence per share. On 19 December 2018, the Company bought back a further 135,000 of its ordinary shares at a price of 70.50 pence per share.

All shares bought back by the Company were subsequently cancelled.

INVESTMENT ACTIVITY

New investment

On 28 November 2018, the Company made a new investment of GBP0.47 million into Kudos Innovations Limited (trading as Grow Kudos), a platform for the dissemination of academic research.

Follow-on investments

On 9 October 2018, a follow-on investment of GBP0.93 million was made into Pattern Analytics (trading as Biosite).

On 10 October 2018, a follow-on investment of GBP0.45 million was made into Proactive Group Holdings Inc.

On 19 October 2018 and 19 December 2018, follow-on investments totalling GBP0.15 million were made into MPB Group Limited.

Repurchase of preference shares by investee company

On 31 October 2018, The Plastic Surgeon Holdings Limited carried out a repurchase of preference shares in which GBP0.05 million of proceeds were received by the Company. After the quarter end, on 31 January 2019 a further GBP0.05 million of preference shares were repurchased by the company.

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.

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END

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(END) Dow Jones Newswires

February 06, 2019 08:54 ET (13:54 GMT)