22nd Mar 2019 11:33
LONDON (Alliance News) - British Smaller Cos VCT PLC on Friday reported 3.2% growth in net asset value per share in the third quarter following the sale of three assets.
The investment company said NAV per share increased to 81.1 pence at the end of December 2018 from 78.6p reported at September 30. The growth was driven principally by the realisation of three investments: in GTK Holdco Ltd, Mangar Health Ltd and Gill Marine Holdings Ltd.
As at the end of the year the aggregate unrealised portfolio valuation stood at GBP54.4 million.
British Smaller Cos shares were untraded on Friday, last closing at 68.50p each.
For the three months to the end of 2018, the company declared a special dividend of 7.0p per ordinary share.
During the period the company also repurchased 521,135 shares at 75.17p each, totalling GBP400,000. These shares are held in treasury.
"The board believes that, whilst there may be some direct impact from the UK's withdrawal from the EU on the portfolio, the investee businesses are seeking to take steps to manage this impact; although the portfolio is not immune from the impact that any economic downturn may cause," the company said in the statement Friday.
Related Shares:
Br.smaller Cos.