IONA Environmental VCT PLC Interim Management Statement (7131L)
14 August 2013 - 3:45PM
UK Regulatory
TIDMION1
RNS Number : 7131L
IONA Environmental VCT PLC
14 August 2013
Iona Environmental VCT Plc ("the Company")
Interim Management Statement
14 August 2013
This is an Interim Management Statement issued by the Company in
accordance with the FCA's disclosure and transparency rule 4.3.
This statement relates to the period from 1 April 2013 to 14 August
2013.
Unaudited Net Asset Value Per Share
As at 30 June 2013, the unaudited net asset value was 84.7p per
Ordinary Share, 1.8p per A Share and 86.2p per B Share compared
with 83.7p per Ordinary Share, 1.7p per A Share and 87.0p as at 31
March 2013.
David Eades, Iona Environmental VCT Plc's Chairman, said:
The Board is encouraged by the Company's progress and expects to
initiate dividend payments once the underlying projects come to
fruition later in the year. The anaerobic digestion market
continues to offer good long term returns to investors, aided by
the UK Government's long term financial support for the sector.
Investments
During the period the Company invested a total of GBP75,000
alongside other investors in R3 Products Limited (R3) to provide
additional working capital. R3 also received a WRAP loan for an
additional GBP238,000.
R3's 'R-Pave' recycled grid protection system now has over three
months' forward orders and the additional investment will enable an
increase in the production capacity.
Both the Stanley Renewables Ltd and JFS Howla Hay Biogas Ltd
projects are on track to complete construction by October this
year.
Share Buybacks
No shares have been bought back during the period. As at 14
August 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 Ltd 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 April
2013 to the date of publication of this statement and their effect
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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