Interim Management Statement (8266B)
February 24 2011 - 9:40AM
UK Regulatory
TIDMAQT2 TIDMAQ2C
RNS Number : 8266B
Acuity Growth VCT PLC
24 February 2011
Acuity Growth VCT Plc ("the Company")
Interim Management Statement
24 February 2011
This is an Interim Management Statement issued by the Company in
accordance with the FSA's disclosure and transparency rule 4.3.
This statement relates to the three month period from 1 October
2010 to 31 December 2010.
Rupert Pennant-Rea, Acuity Growth VCT Plc's Chairman, said:
The value of the portfolio has changed little since the year
end. A separate announcement from the Company deals with the change
of Investment Manager.
Unaudited Net Asset Value Per Share
The investment portfolio, which comprises qualifying and
non-qualifying unquoted and listed investments, has not been
revalued at 31 December 2010. However, calculated on the basis of
the net asset value at 30 September 2010 adjusted to reflect the
purchases and sales of investments and bid values in respect of
listed investments, the unaudited net asset value at 31 December
2010 was 58.8p per ordinary share and 88.5p per C share, compared
with 59.1p per ordinary share and 85.2p per C share at 30 September
2010, a decrease of 0.5% and an increase of 4% respectively.
Investments and realisations
The Company invested a total of GBP1.6 million in the three
months to 31 December 2010.
The largest investment made in the period was GBP0.9 million in
The Fin Machine Company Limited.
During the three months to 31 December 2010, the Company
received proceeds of GBP4.3 million, from the sale of Amber Taverns
Limited.
After the quarter end the Company made further follow-on
investments totalling GBP1.1 million, the largest being a GBP0.3
million committed follow-on Investment in TNT Publishing
Limited.
Share Buybacks
The Board has decided to continue the suspension of the buy back
programme.
The number of ordinary shares in issue was 54,394,938 and the
number of C shares in issue was 777,589 as at 23 February 2011.
Ends
This statement aims to give an indication of material events and
transactions that have taken place during the period from 1 October
2010 to the date of publication of this statement and their impact
on the financial position of Acuity Growth VCT Plc. These
indications reflect the Board's current view. They are subject to a
number of risks and uncertainties and could change. Factors which
could cause or contribute to such differences include, but are not
limited to, general economic and market conditions and specific
factors affecting the financial prospects or performance of
individual investments within the Company's portfolio.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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