The Income & Growth VCT
plc
("the Company")
LEI: 213800FPC15FNM74YD92
INTERIM MANAGEMENT
STATEMENT
For the quarter ended 31 December
2023
The Income & Growth VCT
plc presents an Interim Management
Statement for the quarter ended
31 December 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 31 December 2023
(unaudited)
|
At 30 September 2023
audited)
|
|
Net assets attributable to
shareholders
|
£115,851,751
|
£122,777,786
|
|
Shares in issue
|
157,531,576
|
154,766,933
|
|
Net asset value (NAV) per
share
|
73.54p
|
79.33p
|
|
Cumulative dividends paid
|
159.50p
|
152.50p
|
|
Cumulative Total return (net asset
value basis) per share since inception
|
233.04p
|
231.83p
|
The NAV per share has decreased by
5.79 pence in the quarter (a decrease of 7.3% upon the opening NAV
per share).
INVESTMENT ACTIVITY DURING THE PERIOD
New
Investments during the period
On 15 December 2023, a new equity
investment of £1.50 million was made into Ozone Financial
Technology Limited, an open banking software developer.
On 21 December 2023, a new equity
investment of £0.77 million was made into Huddl Mobility Limited
(trading as CitySwift), a passenger transport data and scheduling
software provider.
On 22 December 2023, a new equity
investment of £0.53 million was made into Azarc.io Inc, a
cross-border customs automation software provider.
Further Investments during the period
On 20 November 2023, a follow on loan
investment of £0.23 million was made into Rota Geek Limited, a
provider of cloud-based staff scheduling solutions.
On 11 December 2023, a follow on
equity investment of £0.17 million was made into Focal Point
Positioning Limited, a provider of GPS enhancement
software.
DIVIDEND PAID DURING THE PERIOD
On 8 November 2023, an interim
dividend of 7.00 pence per share in respect of the year
ending
30 September 2023 was paid to all
Shareholders whose names were on the register on
13 October 2023.
INVESTMENT ACTIVITY AFTER THE PERIOD END
Follow-on investment after the period end
On 10 January 2024, a follow on
equity investment of £0.64 million was made into My TutorWeb
Limited (trading as MyTutor), a digital marketplace for online
tutoring.
Realisation after the period end
The Company is pleased to announce
the sale of Masters Removers Group (2019) Limited ("MRG") to
Elanders AB and alongside this, the sale of its shares in MRG's
domestic removals business to management. There is no material
difference in proceeds receivable compared to the value at which
the Company holds its investment in MRG. Further details will be
announced via a separate RNS in due course.
Share Buyback after the period end
On 19 January 2024, the Company
purchased 1,237,907 of its own ordinary shares at a price
of
68.71 pence per share.
All
shares bought back by the Company were subsequently
cancelled.
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