REG - The Inc & Grwth VCT - Interim Management Statement

Income and Growth VCTAnnouncement

20/09/2023 15:30

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RNS Number : 1086N  Income & Growth VCT (The) PLC  20 September 2023

The Income & Growth VCT plc

("the Company")

LEI:  213800FPC15FNM74YD92

 

INTERIM MANAGEMENT STATEMENT

For the quarter ended 30 June 2023

 

The Income & Growth VCT plc presents an Interim Management Statement for
the quarter ended 30 June 2023. The statement also includes relevant financial
information between the end of the period and the date of this statement.

 

NET ASSET VALUE AND TOTAL RETURN PER SHARE

                                                                                           At 30 June 2023  At 31 March 2023

                                                                                           (unaudited)      (unaudited)
 Net assets attributable to shareholders                                                   £120,329,226     £122,928,699
 Shares in issue                                                                           155,576,127      154,857,033
 Net asset value (NAV) per share                                                           77.34p           79.38p
 Cumulative dividends paid                                                                 152.50p          148.50p
 Cumulative Total return (net asset value basis) per share since inception                 229.84p          227.88p

The NAV per share has decreased by 2.04 pence in the quarter (a decrease of
2.6% upon the opening NAV per share). This decrease was principally due to a
dividend payment of 4.00 pence per share on 26 May 2023 (further details
below), but this was partially offset by a rise in the unrealised valuation of
the portfolio. On a NAV total return basis, after adding back the dividend of
4.00 pence per share, there was an increase of 2.5%.

 

INVESTMENT ACTIVITY DURING THE PERIOD

New investments during the period

On 3 May 2023, a new equity investment of £0.63 million was made into Dayrize
B.V., a provider of a rapid sustainability impact assessment tool.

 

DIVIDENDS PAID DURING THE PERIOD

On 26 May 2023, an interim dividend of 4.00 pence per ordinary share in
respect of the year ending 30 September 2023 was paid to all Shareholders
whose names were on the Register on 21 April 2023.

 

SHARE BUY-BACKS

On 27 June 2023, the Company purchased 758,018 of its own ordinary shares at a
price of 71.61 pence per share.

 

All shares bought back by the Company were subsequently cancelled.

 

INVESTMENT ACTIVITY AFTER THE PERIOD

New investments after the period end

On 26 July 2023, a new equity investment of £0.55 million was made into Mable
Therapy Limited, a digital health platform for speech therapy and counselling
for children and young adults.

 

On 3 August 2023, a new equity investment of £0.54 million was made into
Branchspace, a digital retailing consultancy and software provider to the
aviation and travel industry.

 

Follow-on investments after the period end

On 4 July 2023, a follow on equity investment of 0.45 million was made into
Legatics Holdings Limited, a SaaS LegalTech software provider.

 

On 11 August 2023, a follow on loan investment of £0.17 million was made into
Orri, an intensive day care provider for adults with eating disorders.

 

 

Please note that all of the above information is unaudited.

 

Other than as described above, there were no material events during the period
and to the date of this announcement.

 

For further information, please contact:

Gresham House Asset Management Limited

Company Secretary

020 7382 0999

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