IONA Environmental VCT PLC Interim Management Statement (0273A)
13 Februar 2014 - 1:39PM
UK Regulatory
TIDMION1
RNS Number : 0273A
IONA Environmental VCT PLC
13 February 2014
Iona Environmental VCT Plc ("the Company")
Interim Management Statement
13 February 2014
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 October 2013 to 13
February 2014.
Unaudited Net Asset Value Per Share
As at 31 December 2013, the unaudited net asset value was 86.00p
per Ordinary Share, 1.8p per A Share and 84.4p per B Share compared
with 85.5p per Ordinary Share, 1.8p per A Share and 84.9p per B
Share as at 30 September 2013.
David Eades, Iona Environmental VCT Plc's Chairman, said:
The Board is encouraged by the Company's progress as two of the
Company's AD projects commenced commissioning in the period. Both
Stanley Renewable and Howla Hay Farm have been built on time and
budget and should shortly start exporting electricity to the grid.
Both projects have been pre-accredited under the Government's Feed
in Tariff scheme for renewable energy. As reported in the Half
Yearly Report the investment in R3 was revalued downwards. This
investment remains problematic and continues to receive close
attention from the Investment Manager.
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.
Share Capital and Buybacks
On 29 January 2014, the High Court approved the cancellation of
the Company's Share Premium Account which will enable the Company
to pay dividends.
No shares have been bought back during the period. As at 11
February 2014, 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 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
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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