Net Asset Value(s)

Net Asset Value(s)

Seneca Growth Capital VCT Plc (the "Company")

4 April 2023

Net asset values (“NAV”)

The Directors and the Investment Manager of the Company, Seneca Partners Limited (“Seneca”), have reviewed the valuation of the Company’s Ordinary and B share investment portfolios and announce an updated NAV for each of the share classes as at 31 March 2023.

B Shares

As at 31 March 2023, the unaudited NAV per B share was 73.8p and it is intended that this is the NAV per B share which will be used for the planned allotment of B shares on 5 April 2023.

This is a decrease of 8.8p from the latest published unaudited NAV of 82.6p as at 30 September 2022, predominantly as a result of a reduction in the share prices of some of the B share pool’s AIM quoted investments.

The unaudited NAV total return per B share (NAV plus cumulative dividends) as at 31 March 2023 was 85.8p.         

The unaudited NAV per B share as at 31 December 2022 was 80.7p, full details of which will be included in our Final Results announcement later this month.

The B share Offer by the Company remains open for the 2022/23 tax year until midday today, 4 April 2023.

The B share Offer remains open for the 2023/24 tax year until 18 August 2023, unless the Offer has been fully subscribed by an earlier date or is closed earlier at the discretion of the Directors.

Ordinary Shares

As at 31 March 2023, the unaudited NAV per Ordinary share was 28.4p.

This is a decrease of 11.6p from the latest published unaudited NAV as at 5 December 2022 of 40.0p and is principally due to a reduction in the value of the Ordinary share pool’s investment in AIM quoted Scancell Holdings Plc offset by an increase in the Ordinary share pool’s investment in AIM quoted Arecor Therapeutics Plc. As at 31 March 2023, shares in Scancell Holdings Plc were valued at 15.5p per share (5 December 2022: 23p) and shares in Arecor Therapeutics Plc were valued at 250p per share (5 December 2022: 240p).

The unaudited NAV total return per Ordinary share (NAV plus cumulative dividends) as at 31 March 2023 was 99.7p.

The unaudited NAV per Ordinary share as at 31 December 2022 was 37.1p, full details of which will be included in our Final Results announcement later this month.

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.

For further information, please contact:

John Hustler, Seneca Growth Capital VCT Plc at john.hustler@btconnect.com

Richard Manley, Seneca Growth Capital VCT Plc at Richard.Manley@senecapartners.co.uk

Any enquiries regarding the offer for subscription of B shares should be directed to:

Matt Currie at Seneca Partners Limited on 01942 295 981 or at Matt.Currie@senecapartners.co.uk

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