Pembroke VCT Half-yearly Report September 2018 (Pembroke VCT)

Summary

• Total net assets were £61,022,720 for the six months ended 30 September 2018, compared with £51,219,912 at 31 March 2018.p.5
• Net asset value per share was 132.49p for Ordinary shares and 112.31p for B Ordinary shares.p.5
• The Company made a profit of £3.2 million in the period, or 8.46 pence per Ordinary Share and 5.49 pence per B Ordinary Share.p.6
• The Company has raised £52.9 million in share offers since February 2013 and agreed to launch a new offer of up to £20 million.p.6
• The portfolio comprised 32 investments with a cost of £39.7 million and a fair value of £55.9 million, a 41% increase over cost.p.8
• The Company made two new investments totalling £2.5 million and seven follow-on investments of £2.0 million.p.8
• Total Return of the Ordinary share class rose from 132.63 pence per share at 31 March 2018 to 141.09 pence per share at 30 September 2018.p.6

Key insights

1. A dividend of 3 pence per Ordinary Share and 3 pence per B Ordinary Share was paid on 31 October 2018.p.6
2. The Company has invested £15.0 million from the Ordinary Share class and £24.7 million from the B Ordinary Share class in 32 companies.p.6
3. Income arose from interest income of £0.5 million and investment revaluations of £3.4 million.p.6
4. £1.5 million was invested in N Nursery & Family Club and £1 million in Secret Food Tours.p.8
5. Five companies had further funding rounds at increased valuations compared to previous rounds.p.8