4th Oct 2021 14:18
Puma VCT 11 PLC - venture capital trust managed by Puma Investments - Calls October 27 general meeting of shareholders to approve the winding-up of the company. When it was formed in 2014, the VCT was expected to have a fixed-life of five years before all capital and income was transferred back to shareholders. "The board had delayed that process as a result of the Covid-19 pandemic but now believes that the time is now right to progress the liquidation of the company," it says.
Puma VCT 11 paid a special interim dividend of 9 pence in September. Net asset value at its financial year-end of February 28 was 93.09p when all dividends paid to that point are added back in. The company says its investment manager will realise value from its residual holdings to maximise final returns to shareholders, and this will be done within the three years required by VCT tax legislation.
Current stock price: 62.00p
By Tom Waite; [email protected]
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