TIDMNEP
RNS Number : 8611B
Neptune-Calculus Income &Growth VCT
03 November 2009
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Neptune Calculus Income and Growth VCT plc - Interim Management Statement
Neptune Calculus Income and Growth VCT plc (the company)
INTERIM MANAGEMENT STATEMENT
For the quarter ended 30 September 2009
In accordance with rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, Neptune Calculus Income and Growth VCT plc presents an
Interim Management Statement for the quarter ended 30 September 2009. 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 September 2009 | At 30 June 2009 |
+-----------------------------+------------------------+------------------------+
| Net assets attributable to | GBP10,104,000 | GBP9,648,000 |
| Ordinary shareholders | | |
+-----------------------------+------------------------+------------------------+
| Ordinary Shares in issue | 12,400,991 | 12,400,991 |
+-----------------------------+------------------------+------------------------+
| Net asset value per | 81.48 pence | 77.80 pence |
| Ordinary share | | |
+-----------------------------+------------------------+------------------------+
| Cumulative dividends paid | 8.0 pence | 8.0 pence |
+-----------------------------+------------------------+------------------------+
An interim dividend of 1 penny per Ordinary Share was paid on 19 October 2009 to
shareholders on the register on 25 September 2009, taking the cumulative
dividends paid to date to 9 pence.
PERFORMANCE
The UK economy contracted by a further 0.4% over the quarter, making the current
recession the longest since modern records began in 1955. However, in spite of
the challenging economic environment, the net asset value per Ordinary Share
increased by 4.73% over the period. This was due largely to rises in AIM-listed
Portland Gas plc and Pressure Technologies plc, as well as the Neptune Quarterly
Income Fund and the Neptune Income Fund. In contrast, shares in Relax Group plc
fell back after the group experienced working capital pressures.
INVESTMENT ACTIVITY
In early October GBP410,000 was invested in Terrain Energy Limited, a company
established to develop a portfolio of oil and gas producing assets in the UK.
The board comprises individuals with significant financial, operational and
legal experience in the oil and gas sector.On 14th October, Terrain signed an
agreement to acquire its first interests, which comprises a balanced portfolio
of exploration, development and production interests from Egdon Resources plc,
although these acquisitions remain subject to a number of approvals from the
Department of Energy and Climate Change (DECC) and licence partners.
There were no disposals or realisations during the period.
SHARE BUY-BACKS
During the quarter ended 30 September 2009 the company did not buy back any
shares.
MATERIAL EVENTS
Other than described above, the Board is not aware of any significant event or
transaction which has occurred between 30 September 2009 and the date of
publication of this Interim Management Statement which would have a material
impact on the financial position of the Company.
For further information please contact:
John Glencross of Neptune Calculus Income and Growth VCT plc: 020 7493 4940
This information is provided by RNS
The company news service from the London Stock Exchange
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