AATG Special Dividend Announcement

[Gostevie]

A very nice 9p Special Dividend from Albion Technical & General VCT just announced.

https://www.investegate.co.uk/albion-te ... 3426H7225/

Special dividend

Following changes to the VCT rules and the investment policy, the Company continues to focus on investment in higher growth technology companies, which has led to increased volatility in returns. As detailed in the Annual Report, there were a number of significant and successful disposals during the year ended 31 December 2019, which has resulted in cash balances at 30 June 2020 of £26.0 million, which represented 32% of net assets. While it is important for a venture capital fund, which by its nature has illiquid investments, to hold sufficient cash to manage operating costs, to service dividends and buy backs and, most importantly, to make follow on and new investments when they arise, this must be balanced against meeting the requirement of a venture capital trust to be invested in qualifying investments. The holding of cash is not a qualifying investment for these purposes. As a result of these significant disposals and following a review of the foreseeable cash requirements of the Company, the Board is declaring a special dividend of 9.00 pence per share, payable on 30 October 2020 to shareholders on the register on 9 October 2020. Whilst this reduces the Company’s assets, it provides a significant income return to shareholders and, for those that want to take it, an opportunity to re-invest the special dividend in the Company via the Dividend Reinvestment Scheme as described below.e Company continues to focus on investment in higher growth technology companies, which has led to increased volatility in returns. As detailed in the Annual Report, there were a number of significant and successful disposals during the year ended 31 December 2019, which has resulted in cash balances at 30 June 2020 of £26.0 million, which represented 32% of net assets. While it is important for a venture capital fund, which by its nature has illiquid investments, to hold sufficient cash to manage operating costs, to service dividends and buy backs and, most importantly, to make follow on and new investments when they arise, this must be balanced against meeting the requirement of a venture capital trust to be invested in qualifying investments. The holding of cash is not a qualifying investment for these purposes. As a result of these significant disposals and following a review of the foreseeable cash requirements of the Company, the Board is declaring a special dividend of 9.00 pence per share, payable on 30 October 2020 to shareholders on the register on 9 October 2020. Whilst this reduces the Company’s assets, it provides a significant income return to shareholders and, for those that want to take it, an opportunity to re-invest the special dividend in the Company via the Dividend Reinvestment Scheme as described below.


A slight reduction in the regular second dividend from 2.00p to 1.95p, reflecting new dividend policy.

Gostevie

[BusyBumbleBee]

A very nice 9p Special Dividend from Albion Technical & General VCT just announced.

https://www.investegate.co.uk/albion-te ... 3426H7225/

Special dividend

Following changes to the VCT rules and the investment policy, the Company continues to focus on investment in higher growth technology companies, which has led to increased volatility in returns. As detailed in the Annual Report, there were a number of significant and successful disposals during the year ended 31 December 2019, which has resulted in cash balances at 30 June 2020 of £26.0 million, which represented 32% of net assets. While it is important for a venture capital fund, which by its nature has illiquid investments, to hold sufficient cash to manage operating costs, to service dividends and buy backs and, most importantly, to make follow on and new investments when they arise, this must be balanced against meeting the requirement of a venture capital trust to be invested in qualifying investments. The holding of cash is not a qualifying investment for these purposes. As a result of these significant disposals and following a review of the foreseeable cash requirements of the Company, the Board is declaring a special dividend of 9.00 pence per share, payable on 30 October 2020 to shareholders on the register on 9 October 2020. Whilst this reduces the Company’s assets, it provides a significant income return to shareholders and, for those that want to take it, an opportunity to re-invest the special dividend in the Company via the Dividend Reinvestment Scheme as described below.

[such good news - we will almost say it twice

e Company continues to focus on investment in higher growth technology companies, which has led to increased volatility in returns. As detailed in the Annual Report, there were a number of significant and successful disposals during the year ended 31 December 2019, which has resulted in cash balances at 30 June 2020 of £26.0 million, which represented 32% of net assets. While it is important for a venture capital fund, which by its nature has illiquid investments, to hold sufficient cash to manage operating costs, to service dividends and buy backs and, most importantly, to make follow on and new investments when they arise, this must be balanced against meeting the requirement of a venture capital trust to be invested in qualifying investments. The holding of cash is not a qualifying investment for these purposes. As a result of these significant disposals and following a review of the foreseeable cash requirements of the Company, the Board is declaring a special dividend of 9.00 pence per share, payable on 30 October 2020 to shareholders on the register on 9 October 2020. Whilst this reduces the Company’s assets, it provides a significant income return to shareholders and, for those that want to take it, an opportunity to re-invest the special dividend in the Company via the Dividend Reinvestment Scheme as described below.


A slight reduction in the regular second dividend from 2.00p to 1.95p, reflecting new dividend policy.

Gostevie

Very good news, Steve - so good in fact you (almost) said it twice

Hope you are well - kind regards - BBB