(Alliance News) - Income & Growth VCT PLC reported on Wednesday a 5.1% decline in net asset value in the quarter to December 31 compared with the end of the previous quarter.

The London-based firm said NAV fell to 79.43 pence from 83.73 pence at September 30.

Net assets attributable to shareholders rose to GBP117.02 million from GBP108.42 million and a second interim dividend of 4 pence was paid in respect for the year ended September 30.

The quarter saw the VCT sell its investment in EOTH Ltd, raising GBP7.34 million in cash. Total proceeds over the life of the investment were GBP9.54 million compared to an original investment cost of GBP1.38 million.

There was no investment activity during the quarter but the firm concluded a GBP22 million offer for subscription and a buyback of 296,033 shares at 78.64 pence each.

Since the quarter end, the firm has bought a further 1.2 million shares at a price of 75.74 pence each.

Shares in Income & Growth VCT fell 2% to 73.50 pence in late trading in London on Wednesday.

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.