Interim Management Statement
11 December 2009 - 10:41PM
UK Regulatory
TIDMAGV
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 GBP152,000. In the same period, the disposal of three
unlisted holdingsand one AIM quoted investment generated aggregate proceeds of
GBP1,086,000 against a cost of GBP899,000. In addition, following the
striking-off of Dipford Group and Transrent Holdings by the Registrar of
Companies, aggregate losses of GBP1,064,000 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
GBP202,000 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 GBP818,000 against cost of
GBP464,000.
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
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