IGV Income & Growth Vct (the) Plc

TIDMIGV

RNS Number : 3416U

Income & Growth VCT (The) PLC

27 March 2023

The Income & Growth VCT plc

(the "Company")

   LEI:   213800FPC15FNM74YD92 

Realisation of investment in Tharstern Group Limited

The Company is pleased to announce the sale of its investment in Tharstern Group Limited. The Company has received GBP2.85 million in cash from the sale, generating a realised gain over cost over the life of the investment of GBP2.46 million, being the equivalent of 1.59 pence per share.

In isolation, the impact of this sale on the Company's latest announced unaudited NAV per share of 79.43 pence at 31 December 2022, would be an increase of 0.42 pence per share. The Company emphasises that the increase in NAV per share from this realisation is in isolation from other changes in the Company's balance sheet, including valuation and other transaction movements in the Company's investment portfolio, that may also have affected the NAV per share at 31 December 2022.

To date, cash proceeds have been received over the life of the investment of GBP4.00 million, against an original cost of GBP1.54 million. This represents a return to date for the Company of 2.6 times the original investment cost and an IRR of 15.0% in the eight and a half years that this investment was held. A small amount of escrow proceeds may be receivable in due course.

For further information, please contact:

Gresham House Asset Management Limited,

Company Secretary

+44 (0)20 7382 0999

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March 27, 2023 08:00 ET (12:00 GMT)

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