Interim Management Statement
21 May 2010 - 7:09PM
UK Regulatory
TIDMCR5
RNS Number : 3314M
Core VCT V PLC
21 May 2010
Core VCT V plc
Interim Management Statement
For the quarter ended 31 March 2010
To the members of Core VCT V plc
This interim management statement has been produced solely to provide additional
information to shareholders as a body to meet the relevant requirements of the
UK Listing Authority's Disclosure and Transparency rules. It should not be
relied upon by any other party or for any other purpose.
This interim management statement relates to the period from 1 January 2010 to
31 March 2010 and up to the date of publication of this interim management
statement unless otherwise specified.
1 Net Asset Value
The net asset value (NAV) per Ordinary share was 81.88p at 31 March 2010 (82.51p
at 31 December 2009).
The NAV shown above is unaudited and reflects the closing bid prices of quoted
securities at 31 March 2010. Unlisted companies are normally valued on a
six-monthly basis and the NAVs include the Directors' valuation of unlisted
companies at 31 December 2009 adjusted for any material developments within the
portfolio since that date.
2 Investments and disposals
Significant investments having been made in the last quarter of 2009, no further
investments were made during the quarter ended 31 March 2010. During the same
period, disposals totalling GBP141,541 were made, realising net gains of
GBP3,605.
3 Share Capital
The Company has not issued or bought back any shares during the period under
review.
4 Outlook
The Manager continues to exercise caution in its choice of new investments and
aims to utilise the Company's strong liquidity to acquire additional investments
as acquisition terms become more attractive.
As is common in Venture Capital Trusts, there is little if any liquidity in the
Company's shares and, although the Company is able to buy back shares within
certain constraints, this is intended for use only in exceptional circumstances.
Those investors who seek to realise value by selling their shares in the
secondary market are likely to suffer a significant discount and potential loss
of value. Shareholders might therefore consider holding their shares with a view
to benefiting from future realisations.
The Board is not aware of any other events or transactions that have taken place
between 31 March 2010 and the date of publication of this statement and 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
21 May 2010
This information is provided by RNS
The company news service from the London Stock Exchange
END
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