8th Jul 2019 18:37
(Alliance News) - Foresight 4 VCT PLC on Monday said it saw an increase in its portfolio value over the past financial year.
The investment firm said its net asset value per share as at March 31 was 68.7 pence after the payment of dividend, down from 69.6p reported on the same date a year prior. Before the payment of dividend, NAV per share was 71.8p.
During the year to the end of March, Foresight 4 VCT made nine new and one follow-on investment, totalling GBP8.3 million. Meanwhile, GBP2.1 million was realised from sales and loan redemptions from two portfolio companies.
Foresight 4 VCT's portfolio has seen an uplift in valuation of GBP4.3 million over the year.
During the year, the company distributed 4.0p per share in dividends. It has also bought back 7.8 million shares at a price of 64.20p each under the tender offer on September 17 last year. A further 2.5 million shares were bought back during the year at an average price of 61.25p each.
Since the end of march, Foresight 4 VCT said it has completed two new investments, totalling GBP3.6 million.
"The board believes that the company now has the platform from which the manager can build on, improving performance, driving net asset value growth," said Chair Raymond Abbott.
"Facilitated by the liquidity provided by the issue of new shares, the company will be able to capitalise on the strong pipeline of attractive investment opportunities that the manager continues to see in smaller, growth businesses across the UK," added Abbott.
Foresight 4 VCT shares closed 1.7% lower in London on Monday at 59.00 pence each.
Related Shares:
Foresight Ent