Annual Report and Financial Statements for the Year Ended 31 March 2017 (Pembroke VCT)

Summary

• Net assets were £36,385,862, up from £28,682,986 a year earlier.p.4
• NAV per share was 114.45p for Ordinary shares and 102.58p for B Ordinary shares.p.4
• The Company deployed £6.8 million in new and follow-on investments during the year.p.5
• The new B Ordinary share offer raised £11.1 million at 31 March 2017 and £13.9 million in total when it closed on 30 June 2017.p.5
• At the year end the portfolio comprised 26 investments with a cost of £26.5 million and a fair value of £32.9 million, a 23.8% increase over cost.p.8
• The Company made five new investments and follow-on investments in sixteen companies.p.8

Key insights

1. Investment income was £1,205,035 for the year.p.4
2. The Company invested £1.8 million in the five new investments.p.8
3. Dividends of 2 pence per Ordinary share and 2 pence per B Ordinary share were paid in October 2016.p.5
4. Total expenses of the Company are capped at 0.5% of NAV per quarter.p.5