Interim Management Statement
for the three months ended
Performance
| Unaudited | Unaudited | Unaudited 31 May 2019 | Audited 28 February 2019 |
Pence | Pence | Pence | Pence | |
Net Asset Value per share (“NAV”) | 73.6 | 76.4 | 81.2 | 82.2 |
Dividends paid to date* | 68.25 | 66.25 | 63.75 | 63.75 |
NAV plus dividends paid to date | 141.85 | 142.65 | 144.95 | 145.95 |
*Dividends paid represent dividends paid since the consolidation of 5p Ordinary Shares into 10p Ordinary Shares in
Dividends paid or declared
On
Investment portfolio summary at
Portfolio summary
Valuation | |
Venture capital investments | £’000 |
5,172 | |
4,197 | |
4,194 | |
3,986 | |
3,500 | |
3,467 | |
3,373 | |
3,354 | |
3,342 | |
3,248 | |
Other investments | 30,306 |
68,139 | |
Cash at bank | 43,569 |
Other net current assets | (956) |
Net Assets | 110,752 |
Quoted investments are valued at the closing bid price at
Investment activity during the three month period ended
Investment additions
There were no investment additions in the period.
Investment disposals
| Cost | Market value at | Disposal proceeds | Gain against cost | Realised gain in period |
£’000 | £’000 | £’000 | £’000 | £’000 | |
Think Limited* | - | - | 1,359 | 1,359 | 1,359 |
Rapid Charge Grid Limited** | 1,050 | 1,050 | 1,050 | - | - |
Monmouth Holdings Limited** | 1,000 | 1,000 | 1,000 | - | - |
- | - | 211 | 211 | 211 | |
2,050 | 2,050 | 3,620 | 1,570 | 1,570 |
* Disposal proceeds represent contingent proceeds.
** Loan note disposal.
*** Disposal proceeds represent contingent proceeds, including consideration in the form of shares in Netcall plc.
Investment activity from
£’000 | ||
Our | 1,200 | |
384 | ||
1,584 |
Investment disposals from
| Cost | Market value at | Disposal proceeds | Gain against cost | Realised gain in period |
£’000 | £’000 | £’000 | £’000 | £’000 | |
Monmouth Holdings Limited* | 100 | 100 | 100 | - | - |
100 | 100 | 100 | - | - |
* Loan note disposal.
Changes to share capital | Ordinary Shares of 10p each |
As at | 151,054,397 |
Shares bought back during the 3 months to | (578,698) |
Shares issued during the 3 months to | - |
As at | 150,475,699 |
In the period from
In addition, 678,894 Ordinary Shares were issued under the Company’s Dividend Reinvestment Scheme in relation to the dividend paid on
Material events
Other than the matters described above, there were no material events during the period from
Further information
Further information regarding the Company, can be found on
Company Secretary
Telephone 020 7845 7820
-End
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