28th Jun 2019 13:51
(Alliance News) - Puma VCT 13 PLC on Friday reported net asset value per share of 89.38 pence at the end of its first year in existence.
Puma 13, at February 28, had net assets of GBP13.9 million.
The venture capital trust said it completed a number of qualifying investments of over GBP4.5 million in the period, meaning Puma 13 now has a total of GBP7.9 million invested.
"The company began investing in the latter half of 2018 and has now deployed just under one third of available funds in qualifying investments," Puma 13 added.
The trust did not declare a dividend in the period.
In a statement, Puma 13 said: "The investment manager has a strong pipeline of companies which are suitable for investment. There are many suitable companies which are well-managed, in good market positions and which need our finance. We therefore believe the company is well positioned to assemble a portfolio to deliver attractive returns to shareholders in the medium to long term."
Puma 13 continued: "Over the course of the next year, the Company will build the qualifying portfolio to ensure the company remains on course to meets its HMRC qualifying target. We have strong deal-flow and are meeting many potential investee companies with several interesting opportunities to make further qualifying investments."
Shares in Puma 13 were untraded on Friday in London, last closing at 93.0 pence each.
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Puma Vct 13 Plc