Realisation of investment
Updated : 09:12
The Income & Growth VCT plc
(the "Company")
Realisation of investment in ASL Technology Holdings Limited
The Company is pleased to announce the sale of its investment in ASL Technology Holdings Limited ("ASL") to a trade purchaser on a debt free and cash free basis. The Company received £4.79 million in cash from the sale, and generated a realised gain over cost over the life of the investment of £3.22 million, being the equivalent of 3.10 pence per share. This represents a return of 2.18 times the original investment cost and an IRR of over 12.6% for the Company in the eight and a half years that this investment was held.
In isolation, the impact of this sale on the Company's latest announced NAV per share of 78.03 pence at 31 March 2019, would be an increase of 0.62 pence per share.
For further information, please contact:
Robert Brittain, for Mobeus Equity Partners LLP, Company Secretary 020 7024 7600
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.