10th Jul 2019 18:15
(Alliance News) - Seneca Growth Capital VCT PLC said Wednesday its net asset value per share nearly halved in the first half of 2019, mainly due to a reduction in value of several investments within its portfolio.
As a June 30, net asset value per ordinary share was 33.6 pence, down from 62.3p the same date the year before and from 65.1p at the end of 2018.
For its B shares, net asset value was 99.5p at the end of June, slightly up from 99.1p as at December 31.
Seneca Growth's net asset value total return for the six month period, cumulative of dividends, was 85.85p, down from 86.55p the year before.
Portfolio-wise, cancer specialist Scancell Holdings PLC, which makes up on third of the ordinary share pool portfolio value saw a declining to a bid price of 6.5p at the end of June, almost halved from 12.5p the same date the year before.
There was also a drop in the bid price of Omega Diagnostics Group PLC.
Meanwhile, in the B Share portfolio, five new investments were made in the period, and there was a rise in the share price of SkinBioTherapeutics PLC over the period.
Looking ahead, Seneca Growth Capital said it remains optimistic on the continued development of the B share portfolio.
Shares in Seneca Growth Capital VCT closed 13% lower at 20.00 pence on Wednesday.