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Corona Virus & VCT NAVs

Sophisticated and complex high-risk tax-sensitive investments in small companies: handle with care
127tolmers
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Re: Corona Virus & VCT NAVs

#294134

Postby 127tolmers » March 25th, 2020, 4:43 pm

https://www.investegate.co.uk/draper-es ... 0749H7134/

Offer for Subscription Update
25 March 2020

The Board of Draper Esprit VCT plc announces that it is expecting to issue a Supplementary Prospectus shortly in connection with the Offer for Subscription that launched on 3 October 2019, updating the original prospectus for developments related to the coronavirus pandemic.

The Company is planning to proceed with the allotment of shares in respect of applications received for the 2019/20 tax year on or around 3 April 2020. These will be issued at a price based on an updated net asset value which the Company expects to announce shortly.

The Company also announces that is has temporarily suspended share buybacks. The Board expects these to resume once market conditions have settled.

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Re: Corona Virus & VCT NAVs

#294144

Postby 127tolmers » March 25th, 2020, 4:52 pm

https://www.londonstockexchange.com/exc ... 77970.html

The Board of Baronsmead Second Venture Trust plc (the "Company") announces that the unaudited net asset value of the Ordinary Shares at 23 March 2020 was 62.51p per share. For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 23 March 2020. Unquoted investments are carried at fair value as at 23 March 2020 as determined by the directors following a detailed review of the portfolio by Gresham House Asset Management Ltd (the "Investment Manager").

The Company announced on 27 February 2020 that a final allotment in relation to the current offer for subscription will take place on 31 March 2020. The NAV as at 23 March 2020 will be used to calculate the allotment price in relation to the final allotment. The allotment price will be calculated on the basis of the pricing formula set out in the prospectus published by the Company on 3 October 2019.

The Investment Manager has provided an update on the COVID-19 crisis and the impact and implications for the VCT portfolio. It can be found on the Company website http://www.baronsmeadvcts.co.uk.


https://www.londonstockexchange.com/exc ... 51726.html

The Board of Baronsmead Second Venture Trust plc (the "Company") announces that the unaudited net asset value of the Ordinary Shares at 29 February 2020 was 76.27p per share.

A final dividend of 3.5p per share in relation to the year ended 30 September 2019 has been declared and is payable on 06 March 2020 to members on the register as at 07 February 2020.

The final dividend of 3.5p per share has been deducted from the net asset value of the Ordinary Shares at 29 February 2020 as the ex-dividend date was 06 February 2020.

127tolmers
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Re: Corona Virus & VCT NAVs

#294148

Postby 127tolmers » March 25th, 2020, 4:56 pm

The Board of Baronsmead Venture Trust plc (the "Company") announces that the unaudited net asset value of the Ordinary Shares at 23 March 2020 was 61.99p per share. For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 23 March 2020. Unquoted investments are carried at fair value as at 23 March 2020 as determined by the directors following a detailed review of the portfolio by Gresham House Asset Management Ltd (the "Investment Manager").

.....

The Board of Baronsmead Venture Trust plc (the "Company") announces that the unaudited net asset value of the Ordinary Shares at 29 February 2020 was 74.18p per share.
A final dividend of 3.5p per share in relation to the year ended 30 September 2019 has been declared and is payable on 06 March 2020 to members on the register as at 07 February 2020.
The final dividend of 3.5p per share has been deducted from the net asset value of the Ordinary Shares at 29 February 2020 as the ex-dividend date was 06 February 2020.

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Re: Corona Virus & VCT NAVs

#294413

Postby BusyBumbleBee » March 26th, 2020, 11:07 am

We all owe a big thank-you to 127tolmers for keeping us so well informed

thank-you Robin - kind regards - BBB

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Re: Corona Virus & VCT NAVs

#294468

Postby 127tolmers » March 26th, 2020, 1:51 pm

Buyback today at PGOO at 51.75p following NAV reduction to 54.6p earlier this week from 61.3p in November.

https://www.investegate.co.uk/proven-gr ... 3544H7369/

Transaction in own shares
26 March 2020

ProVen Growth & Income VCT plc announces that, on 26 March 2020, it purchased the following shares for cancellation:
No. purchased Price paid per share % of class in issue
Ordinary shares of 1.6187p each 111,270 51.75p 0.05%


https://www.lse.co.uk/rns/PGOO/proven-g ... aha98.html

23 March 2020

The Board of ProVen Growth & Income VCT plc (the "Company") together with the manager, Beringea LLP (“Beringea”), have been monitoring the evolution of COVID-19 and, in particular, its impact on portfolio companies. In light of this, the Board carried out a review of the portfolio and announces that the unaudited net asset value of the Company is 54.6p per share. This is based on the unaudited net asset value of the Company as at 20 March 2020.

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Re: Corona Virus & VCT NAVs

#294522

Postby 127tolmers » March 26th, 2020, 5:02 pm

Now the British Smallers take a cut in NAV.

https://www.londonstockexchange.com/exc ... 79764.html

British Smaller Companies VCT2 plc (the "Company")

Net Asset Value

The Company has been monitoring the ongoing disruption being caused by COVID-19 and, in particular, its current impact on portfolio companies. In light of this, the Company announces that the unaudited net asset value per ordinary share as at 25 March 2020 was 48.1 pence (31 December 2019 (audited) 55.2 pence per ordinary share). The Company will continue to monitor the performance of its portfolio companies, and will advise shareholders of any further significant movement in net asset value.

As previously reported, on 10 March 2020 the Company realised its investment in Business Collaborator Limited for £5.1 million, compared to a valuation of £3.5 million at 31 December 2019. The realised gain has been included in the unaudited net asset value announced today.


https://www.londonstockexchange.com/exc ... 79765.html

British Smaller Companies VCT plc (the "Company")

Net Asset Value

The Company has been monitoring the ongoing disruption being caused by COVID-19 and, in particular, its impact on portfolio companies. In light of this, the Company announces that the unaudited net asset value per ordinary share as at 25 March 2020 was 63.3 pence (previously 74.1 pence, being 76.1 pence as at 31 December 2019 minus the special dividend of 2.0 pence paid on 20 March 2020). The Company will continue to monitor the performance of its portfolio companies, and will advise shareholders of any further significant movement in net asset value.

On 10 March 2020 the Company realised its investment in Business Collaborator Limited for £7.6 million, compared to a valuation of £5.2 million at 31 December 2019. The realised gain has been included in the unaudited net asset value announced today.

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Re: Corona Virus & VCT NAVs

#294644

Postby 127tolmers » March 27th, 2020, 7:24 am

Late last night Kings Arms Yard issued their annual financial report as at 31 Dec.

https://www.investegate.co.uk/kings-arm ... 4835H7486/

Covid-19
Since the Company’s year end the world has been plunged into a healthcare emergency the possible extent of which cannot yet be assessed. It is too early to gauge the full economic consequences but the possibility of global recession has been widely predicted.

In these circumstances it is unlikely that any investment company will remain unaffected.

Our Manager is now assessing what might be the impact of the crisis on the value of each of our portfolio companies and we hope that by the end of April 2020 we will be able to publish our views on this and our Company’s unaudited net asset value as at 31 March 2020.

......

Dividend
The Board are pleased to declare a first dividend of 0.60 pence per share to be paid on 30 April 2020 to shareholders on the register on 14 April 2020. Further dividends must depend upon the outcome of the current healthcare emergency and the resources that may be required to support our portfolio companies and investment policy. If a second dividend of 0.60 pence per share were paid in line with the annual dividend target of 1.20 pence per share then, based on the closing net asset value at 31 December 2019 of 22.02 pence per share, this would equate to a yield of 5.4%.

.......

Share buy-backs
Given uncertainty on valuations caused by the Coronavirus and its impact on financial markets in recent times, the Board agreed to suspend the Company’s buy back operation on 18 March 2020, until after the Company has provided an updated valuation as at 31 March 2020 of the portfolio and the Company’s net asset value. The Board does not intend to resume the Company’s buyback programme until after the announcement of the 31 March 2020 unaudited net asset value.

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Re: Corona Virus & VCT NAVs

#294658

Postby barchid » March 27th, 2020, 8:04 am

BBB
I agree Tolmers does need thanking for the updating, but so do you for having commenced this prescient thread, thanks to both of you !
I see KAY results are out today and they are also reassessing the valuations post Dec 19 audited figures.
Interestingly though CRWN dropped in the market from 31.9p to 29.50p, or 7.5% after two tiny trades of 750 each at 32.40p yesterday, but no announcement.
I guess someone got wind of what was coming from KAY a little earlier than the announcement ?

127tolmers
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Re: Corona Virus & VCT NAVs

#294686

Postby 127tolmers » March 27th, 2020, 9:27 am

Thanks for the thanks. As many of you know, I had blogged for many years as a private VCT investor. However for the last 5 years I have also worked in the VCT industry and now tend to flag up areas of interest but leave it to others to draw conclusions or make comments. Clearly the industry, like everywhere else is going through tumultuous times. BBB was farsighted to set up this thread at a time when general share prices were falling faster than VCT NAVs and share prices.

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Re: Corona Virus & VCT NAVs

#294689

Postby 127tolmers » March 27th, 2020, 9:37 am

...and now it is Mobeus's turn.

https://www.londonstockexchange.com/exc ... 79992.html

Net Asset Value (NAV)

The Board of Mobeus Income & Growth 4 VCT plc together with the Investment Adviser, Mobeus Equity Partners LLP ("Mobeus"), have been monitoring the disruption caused by COVID-19 and, in particular, its impact on the Company's portfolio of companies.

Following a review of the portfolio, the Board announces that the unaudited NAV of the Company is 64.16 pence per share as at 24 March 2020 (unaudited NAV per share at 31 December 2019 - 74.9 pence per share) after deducting a dividend of 4.0 pence per share paid on 10 January 2020 in respect of the year ended 31 December 2019. This reflects reductions generally across the portfolio which is carried at fair value as determined by the Board and advised by the Investment Adviser, Mobeus, as a result of the market conditions arising from the Coronavirus (Covid-19) pandemic, partially offset in the quarter by the gain on the sale of Turner Topco Limited announced on 14 February 2020.

In relation to the offer for new shares pursuant to the prospectus dated 25 October 2019 (the "Offer"), the Company intends to allot these shares on or around 1 April 2020. The Company also intends, subject to FCA approval, to publish a supplementary prospectus reflecting the fact that the publication of the updated unaudited NAV as at 24 March 2020 reflects a significant new factor for consideration by prospective investors.


https://www.londonstockexchange.com/exc ... 80001.html

Net Asset Value ('NAV')

The Board of Mobeus Income & Growth 2 VCT plc together with the Investment Adviser, Mobeus Equity Partners LLP ("Mobeus"), have been monitoring the disruption caused by COVID-19 and, in particular, its impact on the Company's portfolio of companies.

Following a review of the portfolio, the Board announces that the unaudited NAV of the Company is 84.66 pence per share as at 24 March 2020 (unaudited NAV per share at 31 December 2019 - 92.37 pence per share). The NAV reduction is generally across the portfolio which is carried at fair value as determined by the Board and advised by the Investment Adviser, Mobeus, as a result of the market conditions arising from the Coronavirus (Covid-19) pandemic, partially offset by the gain from the sale of Turner Topco Limited which was announced on 14 February 2020.

On 27 March 2020 the Company will pay a dividend of 11p per share, reducing the unaudited NAV of 84.66 pence per share to 73.66 pence per share. This figure will be the basis of the allotment price on 1 April 2020.

In relation to the offer for new shares pursuant to the prospectus dated 25 October 2019 (the "Offer"), the Company intends to allot these shares on or around 1 April 2020. The Company also intends, subject to FCA approval, to publish a supplementary prospectus reflecting the fact that the publication of the updated unaudited NAV as at 24 March 2020 reflects a significant new factor for consideration by prospective investors.


https://www.londonstockexchange.com/exc ... 79993.html

Net Asset Value (NAV)

The Board of Mobeus Income & Growth VCT plc together with the Investment Adviser, Mobeus Equity Partners LLP ("Mobeus"), have been monitoring the disruption caused by COVID-19 and, in particular, its impact on the Company's portfolio of companies.

Following a review of the portfolio, the Board announces an unaudited NAV of the Company of 58.95 pence per share as at 24 March 2020 (unaudited NAV per share at 31 December 2019 - 64.78 pence per share after deducting a dividend of 4.0 pence per share paid on 8 January 2020 in respect of the year ended 31 December 2019). This fall in NAV reflects reductions generally across the portfolio which is carried at fair value as determined by the Board and advised by the Investment Adviser, Mobeus, as a result of the market conditions arising from the Coronavirus (Covid-19) pandemic, partially offset by the gain in the quarter from the sale of Turner Topco Limited which was announced on 14 February 2020.

In relation to the offer for new shares pursuant to the prospectus dated 25 October 2019 (the "Offer"), the Company intends to allot these shares on or around 1 April 2020 based upon the unaudited NAV of 58.95 pence per share. The Company also intends, subject to FCA approval, to publish a supplementary prospectus reflecting the fact that the publication of the updated unaudited NAV as at 24 March 2020 reflects a significant new factor for consideration by prospective investors.


https://www.londonstockexchange.com/exc ... 79994.html

Net Asset Value

The Board of The Income & Growth VCT plc together with the Investment Adviser, Mobeus Equity Partners LLP ("Mobeus"), have been monitoring the disruption caused by COVID-19 and, in particular, its impact on the Company's portfolio of companies.

Following a review of the portfolio, the Board announces that the unaudited net asset value (NAV) of the Company is 69.27 pence per share as at 24 March 2020 (unaudited NAV per share at 31 December 2019 - 76.53 pence per share). This reflected reductions generally across the portfolio which is carried at fair value as determined by the Board and advised by the Investment Adviser, Mobeus, as a result of the market conditions arising from the Coronavirus (Covid-19) pandemic, partially offset by the gain in the quarter from the sale of Turner Topco Limited which was announced on 14 February 2020.

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Re: Corona Virus & VCT NAVs

#294722

Postby ali1947fish » March 27th, 2020, 10:49 am

Hi Tolmers and others invested in the recent top up in Northern vcts- what's your take on the fall in the NAV and will you go ahead with thi investmnet or withdraw- I am invested.

127tolmers
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Re: Corona Virus & VCT NAVs

#294826

Postby 127tolmers » March 27th, 2020, 2:43 pm

Puma 13 is a new VCT and was only 60% invested at the half year last August.

https://www.investegate.co.uk/puma-vct- ... 48007466U/

Impact of Covid-19 Epidemic and National Shutdown

The Company's Investment Manager has been maintaining close contact with investee companies within the portfolio and offering support and assistance to them in their responses to the national emergency. These companies have taken measures to preserve their stability. All are affected but are not to our knowledge in serious difficulties. They expect to recover when the economy re-opens.

The Company's portfolio of listed equities has suffered from recent stock market falls and is currently showing losses from the portfolio valuation as at 31 January 2020 which was the last date for which a net asset value per share of the Company was published. If sustained the losses arising from holdings of listed equities would reduce the net asset value of the Company by between 4 and 5 per cent. Given the high volatility experienced in markets, this impact is likely to vary considerably from day to day. It is too early to attempt to quantify the impact of the current economic situation on the valuation of holdings of private companies in the qualifying portfolio.

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Re: Corona Virus & VCT NAVs

#294833

Postby james188 » March 27th, 2020, 3:13 pm

ali1947fish wrote:Hi Tolmers and others invested in the recent top up in Northern vcts- what's your take on the fall in the NAV and will you go ahead with thi investmnet or withdraw- I am invested.


Hello Ali.

FWIW, my application to top-up in NVT was accepted and I do not intend to withdraw.

Unlike a number of other VCTs, at least investors will be going in at a base level which reflects (but very approximately and who knows where things will end up), recent market chaos. This is a long term play and I like the management team (post Mercia) and the shape of the portfolio (or most of it), so I see no reason to bail out.

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Re: Corona Virus & VCT NAVs

#295618

Postby 127tolmers » March 30th, 2020, 9:18 am

..and now Foresight.

https://www.londonstockexchange.com/exc ... 81806.html

Net Asset Value and Offer Update

The Board and Foresight Group LLP, the manager of the Company, (Manager) have been continually monitoring the ongoing disruption being caused by the Coronavirus (Covid-19) pandemic and, in particular, the ongoing impact on portfolio companies.

In light of the above, the Board announces that the unaudited NAV per share as at 27 March 2020 was 66.5p (a reduction of 14.1% from the unaudited NAV per share of 77.4p as at 31 December 2019, which was used for the prior allotment of shares pursuant to the Offer referred to below). The updated NAV per Share as at 27 March 2020 reflects valuation reductions generally across the investments in the portfolio as a result of the market volatility arising from the impact of the Coronavirus pandemic affecting all businesses including those in which the Company invests. For the purposes of calculating the unaudited net asset value per share, the venture capital investments (which are all unquoted) are carried at fair value as at 27 March 2020, as determined by the Board on the advice of the Manager.

The Company currently has open an offer for subscription to raise up to £20 million, with an over-allotment facility to raise up to a further £5 million, (Offer) contained in the prospectus published by the Company on 28 January 2020 (Prospectus). The Board announced utilisation of the over-allotment facility on 13 March 2020.

The updated unaudited NAV per share referred to above represents a new significant factor in connection with the Offer and the Prospectus (a reduction of 13.3% from the unaudited NAV per share of 76.7p as at 30 September 2019, this being the latest unaudited published NAV per Share as at the date of the Prospectus). The Company intends, subject to approval by the Financial Conduct Authority, to publish a supplementary prospectus (Supplementary Prospectus) detailing the publication of the updated unaudited NAV per share shortly.

Following publication of the Supplementary Prospectus, investors who have already submitted application forms for new shares under the Offer will have a period of two working days in which they may withdraw such applications, should they wish to do so (as required under section 87Q(4)–(6) of the Financial Services and Markets Act 2000 (as amended). Further details of this right, including the deadline for withdrawal, will be contained in the Supplementary Prospectus which will be available from the Manager’s website at http://www.foresightgroup.eu.

The updated NAV per share referred to above is also intended to be used for the purposes of calculating the number of shares to be issued to applicants under the Offer in respect of 2019/2020 tax year-end applications. The Board will, together with the Manager, however, continue to keep this under review and will publish further updated NAVs per share (in particular for the purposes of an allotment of shares under the Offer if required).

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Re: Corona Virus & VCT NAVs

#295788

Postby 127tolmers » March 30th, 2020, 5:05 pm

...and now Downing ONE down 21.5% in 11 days.

https://www.londonstockexchange.com/exc ... 55516.html

Net Asset Value
30 March 2020

Downing ONE VCT plc announces that its unaudited Net Asset Value as at 20 March 2020 was 55.1p per share.


https://www.londonstockexchange.com/exc ... 55516.html

Net Asset Value
10 March 2020

Downing ONE VCT plc announces that its unaudited Net Asset Value as at 9 March 2020 was 70.2p per share.

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Re: Corona Virus & VCT NAVs

#295808

Postby BusyBumbleBee » March 30th, 2020, 6:15 pm

127tolmers wrote:...and now Downing ONE down 21.5% in 11 days.

Net Asset Value 30 March 2020
Downing ONE VCT plc announces that its unaudited Net Asset Value as at 20 March 2020 was 55.1p per share.

Thanks, again for this, 127tolmers

But the share price has only dipped to 62 to 64 (bid and offer) with no reported sales. I was already out of this one.

What about all Fools who read these posts by 127tolmers giving them a rec by pressing the thumbs up icon just above the post. That way we will know how may of us are still alive out there ;) . I always do as a thank-you but a single rec does not show up.

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Re: Corona Virus & VCT NAVs

#295819

Postby 127tolmers » March 30th, 2020, 6:52 pm

..and now buybacks after the reduced NAVs. Perhaps someone would like to calculate the discounts.

30 MARCH 2020

NORTHERN VENTURE TRUST PLC

TRANSACTION IN OWN SHARES

Northern Venture Trust PLC (“the Company”) announces that on 27 March 2020 it purchased for cancellation under an existing authority granted by shareholders 512,162 ordinary shares of 25p each in the market at a price of 51.87p, representing approximately 0.37 per cent of the Company's issued ordinary share capital.

30 MARCH 2020

NORTHERN 2 VCT PLC


TRANSACTION IN OWN SHARES

Northern 2 VCT PLC (“the Company”) announces that on 27 March 2020 it purchased for cancellation under an existing authority granted by shareholders 271,959 ordinary shares of 5p each in the market at a price of 47.5p, representing approximately 0.20 per cent of the Company's issued ordinary share capital.

30 MARCH 2020

NORTHERN 3 VCT PLC

TRANSACTION IN OWN SHARES

Northern 3 VCT PLC (“the Company”) announces that on 27 March 2020 it purchased for cancellation under an existing authority granted by shareholders 203,301 ordinary shares of 5p each in the market at a price of 68.4p, representing approximately 0.22 per cent of the Company's issued ordinary share capital.


Baronsmead Venture Trust plc

The Board of Baronsmead Venture Trust plc (the "Company") announces that on 30 March 2020 the Company purchased 286,091 ordinary shares of 10p at a price of 58.89 pence per share to be held in Treasury.


Baronsmead Second Venture Trust plc

The Board of Baronsmead Second Venture Trust plc (the "Company") announces that on 30 March 2020 the Company purchased 230,717 ordinary shares of 10p at a price of 59.38 pence per share to be held in Treasury.

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Re: Corona Virus & VCT NAVs

#295982

Postby scotia » March 31st, 2020, 9:53 am

127tolmers wrote:..and now buybacks after the reduced NAVs. Perhaps someone would like to calculate the discounts.

30 MARCH 2020

NORTHERN VENTURE TRUST PLC

TRANSACTION IN OWN SHARES

Northern Venture Trust PLC (“the Company”) announces that on 27 March 2020 it purchased for cancellation under an existing authority granted by shareholders 512,162 ordinary shares of 25p each in the market at a price of 51.87p, representing approximately 0.37 per cent of the Company's issued ordinary share capital.




24th March NAV is 54.6p - Purchase is at a discount of 5.26% to NAV


30 MARCH 2020
NORTHERN 2 VCT PLC

TRANSACTION IN OWN SHARES

Northern 2 VCT PLC (“the Company”) announces that on 27 March 2020 it purchased for cancellation under an existing authority granted by shareholders 271,959 ordinary shares of 5p each in the market at a price of 47.5p, representing approximately 0.20 per cent of the Company's issued ordinary share capital.


24th March NAV is 50p - Purchase is at a discount of 5% to NAV.

30 MARCH 2020

NORTHERN 3 VCT PLC

TRANSACTION IN OWN SHARES

Northern 3 VCT PLC (“the Company”) announces that on 27 March 2020 it purchased for cancellation under an existing authority granted by shareholders 203,301 ordinary shares of 5p each in the market at a price of 68.4p, representing approximately 0.22 per cent of the Company's issued ordinary share capital.



24th March NAV is 72p - Purchase is at a discount of 5% to NAV

Baronsmead Venture Trust plc

The Board of Baronsmead Venture Trust plc (the "Company") announces that on 30 March 2020 the Company purchased 286,091 ordinary shares of 10p at a price of 58.89 pence per share to be held in Treasury.


23rd March NAV is 61.99p - purchase is at a 5% discount to NAV

Baronsmead Second Venture Trust plc

The Board of Baronsmead Second Venture Trust plc (the "Company") announces that on 30 March 2020 the Company purchased 230,717 ordinary shares of 10p at a price of 59.38 pence per share to be held in Treasury.


23rd March NAV is 62.51 - Purchase is at a 5% discount to NAV


- All five around (or spot on) the 5% mark. I thought it would have been higher

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Re: Corona Virus & VCT NAVs

#296003

Postby UncleEbenezer » March 31st, 2020, 10:33 am

scotia wrote:- All five around (or spot on) the 5% mark. I thought it would have been higher


I wonder if they're entertaining hopes that they'll be able to mark the NAVs back up and recover some part of this month's losses in the not-too-distant? They'll have marked down investees at risk, but how cautiously or otherwise? And with TPTB again debasing the £ on a huge scale, that'll affect measurement of losses.

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Re: Corona Virus & VCT NAVs

#296009

Postby scotia » March 31st, 2020, 10:47 am

Adding a few others that I have an interest in:-

Proven VCT (PVN) NAV at 20/3/20 = 65.1p Buyback at 26/3/20 = 61.75p Discount to NAV 5.15%
Proven Growth and Income (PGOO) NAV at 20/3/20 = 54.6p Buyback at 26/3/20 = 51.75p Discount to NAV 5.22%
Amati VCT (AMAT) NAV at 26/3/20 = 123.01p Buyback at 27/3/20 = 109.5 Discount to NAV 10.98%

The remainder listed below have not carried out Buybacks since the last quoted NAV, so I have listed the current Bid/Offer spread

Mobeus Income & Growth 4 (MIG4) NAV at 24/3/20 = 64.16p Spread 60/63
The Income & Growth (IGV) NAV at 24/3/20 = 69.27p Spread 65/68
Pembroke B (PEMB) NAV at 18/3/20 = 111p Spread 104/107
Maven Income & Growth (MIG1) NAV at 20/3/20 = 43.49p Spread 41/43
Maven Income & Growth 3 (MIG3) NAV at 20/3/20 = 55.91p Spread 49/51
Maven Income & Growth 4 (MIG4) NAV at 20/3/20 = 64.51p Spread 61/63
Draper Esprit (DEVC) (formerly Elderstreet) NAV at 27/3/20 = 40.8p Spread 40/45

British Smaller Companies (BSV) announced a temporary suspension of their Buybacks on 20/3/20. Their NAV at 25/3/20 was 63.3p, and currently their Bid/Offer spread is sitting at an apparently anomalous 68.5/72.5.

Apologies if I have mis-typed any of the above.


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