Income & Growth VCT (The) PLC Realisation of Investment (0848L)
11 Gennaio 2021 - 01:00PM
UK Regulatory
TIDMIGV
RNS Number : 0848L
Income & Growth VCT (The) PLC
11 January 2021
The Income & Growth VCT plc
(the "Company")
LEI: 213800FPC15FNM74YD92
Realisation of investment in Bourn Bioscience Limited
The Company is pleased to announce the sale of its investment in
Bourn Bioscience Limited ("Bourn") on 29 December 2020 to Triangle
Health Care Partners 1 LP, a Canadian Fund. The Company has
received GBP2.14 million in cash from the sale, contributing to a
realised gain over cost over the life of the investment of GBP1.03
million, being the equivalent of 0.87 pence per share.
Cash proceeds have been received over the life of the investment
of GBP2.64 million, against an original cost of GBP1.61 million.
This represents a return for the Company of 1.6 times the original
investment cost and an IRR of 8.5% in the nearly seven years that
this investment was held.
In isolation, the impact of this sale on the Company's latest
announced NAV per share of 70.06 pence as at 30 September 2020,
would be an increase of 1.34 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 since 30 September 2020.
For further information, please contact:
Mobeus Equity Partners LLP, Company Secretary 020 7024 7600
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END
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