14th May 2012 11:02
Matrix Income & Growth VCT plc (the Company) INTERIM MANAGEMENT STATEMENT For the quarter ended 31 March 2012
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UKListing Authority, Matrix Income & Growth VCT plc presents an InterimManagement Statement for the quarter ended 31 March 2012. The statement alsoincludes relevant financial information between the end of the period and thedate of this statement.
NET ASSET VALUE AND TOTAL RETURN PER SHARE
At 31 March 2012 At 31 December
2011
Net assets attributable to shareholders £41,915,672 £40,726,175 Shares in issue 43,444,512 42,606,052 Net asset value per Ordinary Share 96.48 p 95.59 p Cumulative dividends paid 26.80 p 26.80 p Total return (net asset value basis) 123.28 p 122.39 pper share since inception % return on opening net asset value 30.46 % 29.51 %per share of 94.5 pence
The net asset value per share has risen by 0.89 pence over the quarter. This is primarily due to a positive income return in the quarter.
CUMULATIVE DIVIDENDS
A final dividend of 6.25 pence per share comprising 1.25 pence from income and5.00 pence from capital in respect of the year ended 31 December 2011 wasapproved by shareholders at the Annual General Meeting of the Company held on10 May 2012. The dividend will be payable on 22 May 2012 to Shareholders whoare on the Register on 11 May 2012. This dividend, once paid, will increasecumulative dividends paid since inception to 33.05 pence per share.
NEW INVESTMENTS
The Company continued its Operating Partner programme, which resulted in further new investment in the quarter of £4 million, with a further £3 million invested after the quarter-end.
LOAN STOCK REPAYMENTS
In January, Fullfield Limited made a partial repayment of its loan stock of
£122,692 and Focus Pharma Holdings Limited repaid £269,708 of its loan stock, together with a premium of £121,045.
SHARE BUYBACKS
The Company bought back 925,000 of its own Ordinary Shares at an average priceof 82.78 pence during the quarter ended 31 March 2012. Since the end of theperiod, it has bought back a further 247,320 of its own shares at a price of85.84 pence.
MATRIX VCTs' LINKED OFFER FOR SUBSCRIPTION
During the quarter ended 31 March 2012, the Company issued and allotted a total of 1,763,460 ordinary shares at a price of £1.012 per share, raising net proceeds of £1,690,204 (after deducting initial costs).
Since the quarter end the Company has allotted a further 3,118,113 ordinary shares at a price of £1.012 per share, raising further net proceeds of £2,985,810 (after deducting initial costs).
Applications totalling £14.5 million have been received to date under the Offer of which £4.8 million has been received for Matrix Income & Growth VCT plc.
The Offer remains open until 30 June 2012.
For further information, please contact:
Sarah Penfold, for Matrix Private Equity Partners LLP, Company Secretary: 020 3206 7000.
XLONRelated Shares:
Mobeus I&g