19th Dec 2019 16:26
(Alliance News) - Artemis VCT PLC said Thursday reported a steep drop in net asset value following a difficult year.
The investment company said its net asset value per share was 41.48 pence at September 30, down from 64.40 pence at September 30 a year ago.
Artemis's special dividend per share was 8.00 pence, down from 17.00 pence in comparable period a year ago.
The company said the year have been challenging and returns have not been as strong as the company might have wished.
Fiona Wollocombe, chair, said:"The new venture capital trusts regulations have resulted in a significant reduction in suitable deal flow for the company.
"This situation therefore limits opportunities to continue to develop and refresh the portfolio on an ongoing basis. Our current working assumption is that there are unlikely to be any new investments made by the company," Wollocombe said.
Artemis VCT shares were untraded on Thursday in London, last quoted at 36.16 pence.
By Loreta Juodagalvyte; [email protected]
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