Interim Management Statement
16 January 2009 - 4:40AM
UK Regulatory
TIDMPND
Pennine Downing AIM VCT 2 plc
Interim Management Statement
for the three months ended 30 November 2008
In accordance with Rule 4.3 of the Disclosure and Transparency Rules
of the UK Listing Authority, Pennine Downing AIM VCT 2 plc presents
an Interim Management Statement for the three month period ended 30
November 2008. The statement also includes relevant financial
information between the end of the period and the date of this
statement. All of the information included in this announcement is
unaudited.
Dividends paid or declared in the period
No dividends were paid or declared in the period.
Performance
Following a review by the Board of the valuation of the unquoted
investments, the Board announces that the Company's updated unaudited
Net Asset Value per share at 30 November 2008 stood at 29.2 p per
share and at 31 December 2008 also stood at 29.2p per share.
The recent performance summary of the Company is summarised as
follows:
30 31 28
November August February
2008 2008 2008
Pence Pence Pence
Net Asset Value ("NAV") 29.2 42.4 55.0
Cumulative Dividends 27.0 27.0 23.5
Total Return * 56.2 69.4 78.5
* NAV plus cumulative dividends paid since launch
Unaudited investment portfolio summary at 30 November 2008
Twenty largest investments by value
Valuation
movement since
Cost Valuation 31 August 2008
GBP'000 GBP'000 GBP'000
Synergy Health plc ** 622 553 (516)
Nu Nu plc * 469 431 (87)
Cadbury House Limited * 461 461 -
Spice plc ** 398 380 (110)
SPC International Limited * 361 361 -
Aero Inventory plc 860 323 (293)
Elektron plc 459 321 (140)
Hoole Hall Spa and Leisure Club 300 300
Limited * -
Glisten plc 246 268 (264)
The Thames Club Limited * 250 250 -
Clerkenwell Ventures Group plc 276 226 (17)
RFTRAQ Limited * 401 225 -
Supporta plc 406 186 (62)
Ludorum plc 164 160 -
Sanastro plc * 314 106 (34)
Huveaux plc 300 127 (7)
Preston North End plc 141 109 (16)
Forward Media Limited * 281 20 (84)
Interserve plc ** 213 98 (101)
AT Communications plc 392 95 (169)
Other investments 6,548 1,304 (928)
Total 13,862 6,304 (2,844)
All investments are quoted on AIM unless otherwise stated.
* Unquoted
** Listed on London Stock Exchange Main Market
Investment additions during the 3 months ended 30 November 2008
Cost
GBP,000
Sundry additions 1
There have been no additions between 1 December 2008 and the date of
this announcement.
Investment disposals during the 3 months ended 30 November 2008
Market value Gain/(loss) Total
at 1 March Disposal in period realised
Cost 2008 proceeds against cost gain
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Venture Capital Investments
Payzone plc 237 146 20 (217) (126)
Unit Trust Investments
Income Fund 344 486 292 (52) (194)
Income & Growth
Fund 293 401 271 (22) (130)
874 1,033 583 (291) (450)
There have been no disposals between 1 December 2008 and the date of
this announcement.
Changes to share capital
Ordinary Shares of
5p each
Shares GBP'000
As at 1 September 2008 23,869,324 1,193
Shares bought back and cancelled - -
As at 30 November 2008 23,869,324 1,193
Between 1 December 2008 and the date of this announcement the Company
purchased 52,910 of its own shares for cancellation.
Directorate
On 21 October 2008 Brian Beverley resigned as a non-executive
director of the Company. On 4 December 2008, James Chadwick Murrin
was appointed as a non-executive director of the Company.
Material events
Other than described above, there were no material events during the
period from 1 September 2008 to 30 November 2008 or in the period
from 1 December 2008 to the date of this announcement.
=--END OF MESSAGE---
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
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