RNS Number : 7732U
Neptune-Calculus Income &Growth VCT
19 May 2008
Neptune-Calculus Income & Growth VCT plc - Interim Management Statement
Interim Management Statement for the three months to 31 March 2008
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority, Neptune-Calculus Income & Growth VCT
plc presents an Interim Management Statement for the three month period ended 31 March 2008.
The statement also includes relevant financial information between the end of the period and the date of this statement.
Dividends paid or declared in the period
No dividends were paid or declared in the period to 31 March 2008.
Performance
31 March 2008 31 December 2007
Pence Pence
Ordinary Shares
Net Asset Value ('NAV') * 91.4 98.1
Cumulative Dividends 6.0 6.0
Accumulated shareholder value* 97.4 104.1
C Ordinary Shares
Net Asset Value ('NAV') * 85.5 92.7
Cumulative Dividends 2.0 2.0
Accumulated shareholder value * 87.5 94.7
* including current year revenue.
* NAV plus cumulative dividends paid since launch.
As at 30 April 2008, the NAV* of the Ordinary Shares was 93.1 pence and the NAV* of the C Ordinary Shares was 88.1 pence.
Investment portfolio summary at 31 March 2008
Ordinary Share Portfolio Cost Valuation Percentage of
portfolio at
31 March 2008
£ £ %
Ten largest investments by value
Neptune Quarterly Income Fund Income Units 439,047 535,221 15.7
The Neptune Income Fund Income A Class 435,453 491,237 14.4
Portland Gas plc Ordinary Shares* 160,052 260,940 7.7
Heritage House Group Limited 212,062 212,062 6.2
Ordinary Shares 28,070 28,070
Loan Stock 183,992 183,992
Cater Plus Services Limited 175,000 175,000 5.2
A Ordinary Shares 9,546 9,546
B Ordinary Shares 7,954 7,954
Preference Shares 40,833 40,833
Loan stock 116,667 116,667
RMS Europe Limited 160,000 160,000 4.7
Ordinary Shares 32,000 32,000
Loan stock 128,000 128,000
Triage Holdings Limited 160,000 160,000 4.7
A Ordinary Shares 16,000 16,000
Preference Shares 119,240 119,240
Loan stock 24,760 24,760
Epistem Holdings plc Ordinary Shares* 125,434 159,668 4.7
Mount Engineering plc Ordinary Shares* 150,000 158,571 4.7
Sport Media Group plc Ordinary Shares* 280,964 151,852 4.5
Subtotal 2,298,012 2,464,551 72.5
Other investments 1,496,744 932,869 27.5
Total 3,794,756 3,397,420 100.0
C Ordinary Share Portfolio Cost Valuation Percentage of
portfolio at
31 March 2008
£ £ %
Ten largest investments by value
Neptune Quarterly Income Fund Income Units 810,000 790,261 11.3
The Neptune Income Fund Income A Class 825,000 763,964 10.9
Portland Gas plc Ordinary Shares* 290,475 474,180 6.8
Heritage House Group Limited 424,124 424,124 6.0
Ordinary Shares 56,141 56,141
Loan Stock 367,983 367,983
RMS Europe Limited 340,000 340,000 4.9
Ordinary Shares 68,000 68,000
Loan stock 272,000 272,000
Cater Plus Services Limited 325,000 325,000 4.6
A Ordinary Shares 17,727 17,727
B Ordinary Shares 14,773 14,773
Preference Shares 75,834 75,834
Loan stock 216,666 216,666
Triage Holdings Limited 320,000 320,000 4.6
A Ordinary Shares 32,000 32,000
Preference Shares 238,480 238,480
Loan stock 49,520 49,520
Pharmasmart Limited Ordinary Shares 250,000 250,000 3.6
Scottish & Newcastle plc Ordinary Shares 127,637 197,500 2.8
Sport Media Group plc Ordinary Shares * 345,000 186,630 2.7
Subtotal 4,057,236 4,071,659 58.2
Other investments 3,616,589 2,824,818 40.3
Other fixed income investments 107,082 107,082 1.5
Total 7,780,907 7,003,559 100.0
* AIM traded
Investment additions during the three months ended 31 March 2008
Cost Ordinary Shares C Ordinary Shares
£ £ £
Debts.co.uk plc Ordinary Shares 250,000 75,000 175,000
There have been no additions since the period end and the date of this report.
On 31 January 2008 Heritage House Group Limited repaid loan stock as follows:
Total Ordinary Share C OrdinaryShare
Portfolio Portfolio
£200,000 £75,000 £125,000
Disposals since the period end and the date of the report
On 29 April 2008, a consortium of Carlsberg and Heineken acquired Scottish and Newcastle plc.
Percentage qualifying holdings
The Company must be invested at least 70 per cent by value of its total investments in VCT qualifying holdings by 31 December 2008. As
at 31 March 2008, the percentage invested in qualifying investments was 61.84%.
Changes to share capital
Ordinary £ C Ordinary £
Shares Shares
As at 1 January 2008 3,793,562 379,356 8,393,209 839,321
Shares issued 264,797 26,480 289,961 28,996
As at 31 March 2008 4,058,359 405,836 8,683,170 868,317
The Company issued 42,477 Ordinary Shares of 10p each and 93,594 C Ordinary Shares at 10p each between 1 April 2008 and 4 April 2008, at
a price of 100.1p per Ordinary Share and 93.8p per C Ordinary Share.
The total number of Ordinary Shares now in issue is 4,100,806 and the total number of C Ordinary Shares now in issue is 8,776,764
Material events
Other than described above, there were no material events during the period from 1 January 2008 to 31 March 2008 or in the period from 1
April 2008 to the date of this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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