11th Dec 2009 11:41
RNS Number : 9870D
Aberdeen Growth VCT1 PLC
11 December 2009
Aberdeen Growth VCT I PLC (the Company)
Interim Management Statement - Quarter ended 31 October 2009
This Interim Management Statement, for the quarter ended 31 October 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 November 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.
1. Financial highlights
·; Net Asset Value (NAV)1 of 54.3p at 31 October 2009; compared to 52.7p at 31
July 2009 and representing an increase of 3.0% over the period.
·; Interim dividend of 1p per share, in respect of the year ending 31 January 2010, paid on 13 November 2009.
1The NAV is unaudited and reflects the closing bid price of quoted securities at 31 October 2009. Unlisted companies are normally valued on a six-monthly basis; the NAV incorporates the Directors' valuation of unlisted investments as at 31 July 2009, adjusted for subsequent events where appropriate.
2. Investments and disposals
Three unlisted investments were completed during the quarter ended 31 October 2009 at a total cost of £152,000. In the same period, the disposal of three unlisted holdingsand one AIM quoted investment generated aggregate proceeds of £1,086,000 against a cost of £899,000. In addition, following the striking-off of Dipford Group and Transrent Holdings by the Registrar of Companies, aggregate losses of £1,064,000 which had already been fully provided for were realised, with there being no resulting impact on the Company's Net Asset Value.
3. Recent developments
Between 31 October 2009 and the date of this statement, investments totalling £202,000 were made in one unlisted and two AIM quoted companies.
During the same post quarter-end period, disposals of four unlisted and one AIM quoted investments generated aggregate proceeds of £818,000 against cost of £464,000.
4. Change of Company Name
At a General Meeting of the Company held on 9 December 2009, Shareholders approved a change in the name of the Company to Maven Income and Growth VCT 2 PLC with this change to become effective once receipt of the Resolution has been confirmed by Companies House.
Other than described above and the impact of movements related to the prices of shares in quoted securities, the Board is not aware of any material events during the period from 1 August 2009 to 31 October 2009, or in the period from 1 November 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
11 December 2009
This information is provided by RNS
The company news service from the London Stock Exchange
END
IMSGUGCWPUPBGGG
Related Shares:
Maven Income and Growth VCT 2
