Interim Management Statement
February 13 2009 - 5:05AM
UK Regulatory
TIDMAQT1
RNS Number : 2913N
Acuity VCT PLC
13 February 2009
Acuity VCT Plc ("the Company")
Interim Management Statement
13 February 2009
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 2008 to 31 December 2008.
Rupert Pennant-Rea, Acuity VCT Plc's Chairman, said:
"Although the Company has seen another reduction in the value of its listed
holdings, there has been no fundamental change in its longer term outlook during
the period. The Company has a diversified investment portfolio which
is reasonably positioned to weather the recession."
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 2008. However,
calculated on the basis of the net asset value at 30 September 2008 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 2008 was 54.1p
per ordinary share and 99.8p per C share, compared with 62.2p per ordinary share
and 102.7p per C share at 30 September 2008, decreases of 13% and 3%
respectively. By comparison, the FTSE-All Share Index decreased by 11% over the
same period.
Investments and realisations
The Company invested a total of GBP0.7 million in the three months to 31
December 2008.
The largest investment made in the period was GBP0.6 million in Loseley Dairy
Ice Cream Limited.
During the three months to 31 December 2008, the Company received proceeds of
GBP0.6 million from the sale of various investments.
After the quarter end the Company realised GBP0.2 million from a reduction of
its holding in Advanced Medical Solutions.
Share Buybacks
During the three months to 31 December the Company has not acquired any shares
for cancellation. In the light of recent market turbulence, the Board has
decided to suspend the buy back programme, a decision which will be kept under
review.
The number of ordinary shares in issue was 19,201,481 and the number of C shares
in issue was 9,093,156 as at 3 February 2009.
Ends
For information please contact:
Nick Ross, Director Acuity VCT Plc
020 7306 3901
This statement aims to give an indication of material events and transactions
that have taken place during the period from 1 October 2008 to the date of
publication of this statement and their impact of the financial position of
Acuity 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 difficulties 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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