Interim Management Statement
February 18 2008 - 4:33AM
UK Regulatory
RNS Number:1854O
Gateway VCT PLC
18 February 2008
Gateway VCT plc ("the Company")
Interim Management Statement for the Quarter Ended 31 December 2007
Gateway VCT plc presents its Interim Management Statement for the quarter ended
31 December 2007, as required by the UK Listing Authority's Disclosure and
Transparency Rules.
The unaudited Net Asset Value (NAV) per ordinary share as at 31 December 2007
was 39.42p (30 September 2007; 41.86p).
The Board is not aware of any significant events or transactions that have taken
place between the date of the NAV and the date of publication of this Interim
Management Statement.
The number of ordinary shares in issue at 31 December 2007 was 13,591,734,
Between 30 September 2007 and 31 December 2007 no shares were issued, and no
shares were repurchased by the Company for cancellation.
Net Assets at 31 December 2007 comprised
the following: �000s % of Net Assets
Unquoted Investments at valuation 1,550 28.9
AIM Investments at bid price 1,825 34.1
Other Quoted Investments at bid price 430 8.0
Fixed Interest Stock 1,538 28.7
Net Current Assets 15 0.3
Net Assets 5,358 100
Unquoted investments are carried at fair value as at 31 December 2007 as
determined by the Directors. AIM/Quoted investments are carried at bid price as
at 31 December 2007. During the period 30 September 2007 to 31 December 2007 the
valuation of the investment portfolio fell by �313,000 of which a significant
factor was a reduction of approximately 25% in the share price of the Vectura
Group plc. No new or follow-on investments were made during the three
months to 31 December 2007.
During January 2008 the Non-Qualifying quoted stocks portfolio was largely
realised.
The Company has progressed options for the strategic alternatives open to it as
a Venture Capital Trust in accordance with the statements made in the Chairman's
Report in the Interim Financial Statements published in November 2007. It is
anticipated that a circular to shareholders setting out alternative proposals
will be sent to shareholders in the near future.
For further information please contact Gateway VCT plc on 0208 991 4577
This information is provided by RNS
The company news service from the London Stock Exchange
END
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