26th Jul 2019 12:49
(Alliance News) - Maven Income & Growth VCT 3 PLC on Friday said its net asset value increased over the first half of its current financial year.
The investment company reported NAV per share as at May 31 of 61.97 pence, up from 67.01 reported on the same date a year prior, and up from 61.49p recorded on November 30.
During the period five new and nine follow-on investments were completed, Maven VCT 3 said.
There have also been two notable realisations, the company highlighted, with the sale of Just Trays and GEV completed in the second half. In light of this performance, Maven VCT 3 declared an interim dividend of 2.00 pence per share.
"It is encouraging to report that despite the ongoing political and economic uncertainty, Maven continues to see both a strong pipeline of new opportunities, and no discernible impact on the current portfolio holdings," the company said in its statement Friday.
Looking ahead, Maven said it is making good progress towards its objective of building a large and diverse portfolio of private and AIM quoted growth companies.
The company said its pipeline of opportunities currently in process is very healthy, indicating that the rate of new investment in the second half of the year will be strong.
The stock was trading 1.8% lower on Friday in London at 55.50p a share.
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