13th Jan 2010 16:30
Interim Management Statement
Maven Income and Growth VCT PLC (the Company) - quarter ended 30 November 2009
This Interim Management Statement, for the quarter ended 30 November 2009 is provided in accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority and also includes relevant information in respect of the period from 1 December 2009 to the date of issue. This Statement has been prepared solely to provide additional information in order to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules, and should not be relied on by Shareholders, or any other party, for any other purpose.
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1. |
Financial highlights |
Net Asset Value (NAV)* of 62.3p per share at 30 November 2009 compared to 60.8p per share at 31 August 2009; and
Interim dividend of 1.0p per share paid on 11 December 2009.
*The NAV is unaudited and reflects the closing bid price of quoted securities at 30 November 2009. Unlisted companies are normally valued on a six-monthly basis and the NAV incorporates the Directors' valuation of unlisted investments as at 31 August 2009, adjusted for subsequent events where appropriate.
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2. |
Investments and disposals |
During the quarter ended 30 November 2009, investments totalling £31,000 were made in one unlisted company and one AIM quoted company.
During the same period, a combination of partial and complete disposals of three unlisted investment and two AIM quoted investments generated aggregate proceeds of £2,193,000 against cost of £1,447,000.
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3. |
Recent developments |
Between 30 November 2009 and the date of this statement, an investment of £428,000 was made an unlisted
company. During the same post quarter-end period, disposals of 1 unlisted 3 AIM quoted investments generated aggregate proceeds of £119,000 against cost of £125,000 and £1,600,000 of UK treasury stock was redeemed at par.
With effect from 14 December 2009, and subsequent to the passing of a Special Resolution by Shareholders in a General Meeting held on 10 December 2009, the name of the Company was changed from Aberdeen Income and Growth VCT PLC to Maven Income and Growth VCT PLC.
Other than described above and changes in the value of investments quoted on regulated markets, the Board is not aware of any material events during the period from 1 September to 30 November 2009, or in the period from 1 December 2009 to the date of this announcement, which would have had a material impact on the financial position of the Company.
Issued on behalf of the Board
Maven Capital Partners UK LLP, Secretary
13 January 2010
Related Shares:
Maven Income 1