IONA Environmental VCT PLC Interim Management Statement (9850X)
15 2월 2013 - 7:04PM
UK Regulatory
TIDMION1
RNS Number : 9850X
IONA Environmental VCT PLC
15 February 2013
Iona Environmental VCT Plc ("the Company")
Interim Management Statement
15 February 2013
This is an Interim Management Statement issued by the Company in
accordance with the FSA's disclosure and transparency rule 4.3.
This statement relates to the period from 1 October 2012 to 14
February 2013.
Unaudited Net Asset Value Per Share
As at 31 December 2012, the unaudited net asset value was 83.2p
per Ordinary Share, 1.7p per A Share and 88.5p per B Share compared
with 83.2p per Ordinary Share, 1.7p per A Share and 89.6p as at
30th September 2012.
David Eades, Iona Environmental VCT Plc's Chairman, said:
The fund remains well positioned to take advantage of a growing
market opportunity in waste to energy infrastructure investments.
This market is being driven by the Government's target to generate
15% of the UK's energy requirement from renewable sources by 2020
and landfill diversion targets supported by the landfill escalator
tax.
Investments
During the period under review the Company invested a total of
GBP2.3m in three new companies, Gradena Limited, Stanley Renewable
Energy Ltd and JFS Howla Hay Biogas Limited. These investments
increase the total of funds invested to over 70% of the ordinary
issued share capital, which is the target requirement under VCT
legislation. We are awaiting confirmation from HMRC that our final
two investments satisfy VCT criteria and we have no reason to
believe that this will not be forth coming.
In the period, Rosewood Energy Limited completed the final
drawdown of the Company's investment of GBP221,944 and has started
to pay the income expected from it. The other investments are at
early stages of construction and the Company does not expect to
receive any income from them until later in 2013.
Share Buybacks
No shares have been bought back during the period. As at 14
February 2013, the number of Ordinary Shares in issue was
5,345,499, the number of A Shares in issue was 8,018,246 and the
number of B Shares in issue was 835,360.
Ends
For information please contact:
Iona Capital 0207 629 9166 www.info@ionacapital.co.uk
This statement aims to give an indication of material events and
transactions that have taken place during the period from 1 October
2012 to the date of publication of this statement and their impact
on the financial position of Iona Environmental VCT Plc. These
indications reflect the Board's current view. They are subject to a
number of risks and uncertainties and could change. Factors which
could cause or contribute to such differences include, but are not
limited to, general economic and market conditions and specific
factors affecting the financial prospects or performance of
individual investments within the Company's portfolio.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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