Interim Management Statement
for the three months ended
Performance
Unaudited 31 May 2021 | Audited 28 February 2021 | |||
Pence | Pence | |||
Net Asset Value per share (“NAV”) | 76.4 | 74.8 | ||
Dividends paid to date* | 71.75 | 71.75 | ||
NAV plus dividends paid to date | 148.15 | 146.55 |
*Dividends paid represent dividends paid since the consolidation of 5p Ordinary Shares into 10p Ordinary Shares in
Dividends paid or declared
On
Investment portfolio summary at
Portfolio summary
Valuation | |
Venture capital investments | £’000 |
7,911 | |
7,594 | |
7,151 | |
6,748 | |
6,336 | |
5,052 | |
4,163 | |
3,964 | |
3,833 | |
3,589 | |
Other investments | 38,744 |
95,085 | |
Cash at bank | 54,345 |
Other net current assets | (468) |
Net Assets | 148,962 |
Quoted investments are valued at the closing bid price at
Investment activity during the three month period ended
Investment additions
£’000 | ||
1,809 | ||
1,388 | ||
421 | ||
3,618 |
Investment disposals
Cost | Market value at | Disposal proceeds | (Loss)/gain against cost | Realised (loss)/gain in period | |
£’000 | £’000 | £’000 | £’000 | £’000 | |
827 | 1,692 | 2,283 | 1,456 | 591 | |
Response Tap Limited* | 1,060 | 1,037 | 1,022 | (38) | (15) |
Think Limited** | - | - | 16 | 16 | 16 |
- | - | 10 | 10 | 10 | |
1,887 | 2,729 | 3,331 | 1,444 | 602 |
*Disposal proceeds include amounts accrued in excess of cash proceeds already received.
** Disposal proceeds represent contingent proceeds.
Investment activity from
£’000 | ||
636 | ||
636 |
Investment disposals from
Cost | Market value at | Disposal proceeds | Gain against cost | Realised loss in period | |
£’000 | £’000 | £’000 | £’000 | £’000 | |
1,391 | 4,163 | 4,089 | 2,698 | (74) | |
1,391 | 4,163 | 4,089 | 2,698 | (74) |
Changes to share capital | Ordinary Shares of 10p each |
As at | 169,820,219 |
Shares bought back during the 3 months to | (765,372) |
Shares issued during the 3 months to | 25,836,664 |
As at | 194,891,511 |
In the period from
Material events
Other than the matters described above, there were no material events during the period from
Further information
Further information regarding the Company can be found on Beringea's dedicated VCT website: www.provenvcts.co.uk or by contacting Beringea, the Investment Manager, at provenvcts@beringea.co.uk or by telephone 020 7845 7820.
Company Secretary
Telephone 020 7845 7820
-End
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