18th Jul 2008 13:03
VENTUS VCT PLC
Interim Management Statement -18 July 2008
Ventus VCT plc (the "Company") presents its first interim management statement for the financial year ending 28 February 2009, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
The Company published its Annual Report and Financial Statements on 2 June 2008 covering the third full year of investment activity. This interim management statement summarises the information as at the date of the Annual Report and Financial Statements and further developments up to the date of this statement.
Dividends
The final dividend for the year ended 29 February 2008 of 2.00 pence per share was approved at the Annual General Meeting on 4 July 2008. The final dividend was paid on 14 July 2008 to all shareholders on the register as at the close of business on 13 June 2008 and resulted in a total annual dividend of 3.50 pence per share.
Net Asset Value
Net Asset Value ("NAV") as at 29 February 2008 totalled £13.9 million or 93.0 pence per share. Other than as a result of the payment of the final dividend on 14 July 2008 there has been no significant change in NAV between 29 February 2008 and the date of this statement.
Investments
As at the date of this statement, the Company holds qualifying investments of £11.8 million and has contractually committed to invest a further £0.6 million in qualifying investments. The Company currently also has £0.3 million of non-qualifying investments and commitments.
The Company currently holds investments in a total of fifteen companies representing total funds invested and committed of £12.7 million.
As at 1 March 2008 the Company had invested over 70% of its investments in qualifying holdings in order for the Company to comply with HM Revenue & Customs' VCT regulations. The Company continues to meet this ongoing requirement as at the date of this statement.
For further details of the Company's investments please see the Investment Manager's Report in the Annual Report and Financial Statements for the year ended 29 February 2008.
Other than described above, the Board is not aware of any events during the period from 1 March 2008 to the date of this statement which would have had a material impact on the financial position of the Company.
Issued on behalf of the Board
Capita Company Secretarial Services Ltd,
Company Secretary
18 July 2008
Related Shares:
VEN.L