24th Jul 2019 19:02
(Alliance News) - Draper Esprit VCT PLC on Wednesday said its net asset value dipped slightly in its most recent financial year following the payment of dividends.
As at March 31, the end of the venture capital trust's year, NAV per share stood at 56.7 pence, just below its 57.5p figure the year before.
Draper Esprit VCT is proposing a final 1.5 pence per share dividend, maintaining the total for the year at 3.0p per share. Including dividends paid, NAV was up 3.8%.
The trust is planning an offer for subscription to raise around GBP20 million in the early autumn. The offer is intended to "provide investors with exposure to the potential rewards of investing in young technology businesses, with all the tax benefits from the VCT wrapper".
Shares in Draper Esprit VCT closed flat at 55.00 pence on Wednesday.
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