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Edge Performance VCT losses widen in H1 on asset writedowns
StockMarketWire.com
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Edge Performance VCT reported wider first-half losses as the value of its venture portfolio declined by 40% amid asset writedowns.
For the six months ended 31 August, pre-tax losses widened to £10.5 million from £2.3 million year-on-year as the value of the venture portfolio fell by approximately £9,820k, or 40.31%.
The H share class decreased was driven primarily by write-downs in the value of the company's holdings in Coolabi and Hoop Industries, the company said.
The I share class decreased was caused by a 'significant fall in the valuation of the sole significant remaining investment, Coolabi group,' it added.
The company said that £724,000 of the loss was attributable to the H share portfolio and the balance, £9,733k, to the I share portfolio.
The net asset value per H share fell 6.25 pence from 72.69 pence to 66.44 pence; and the net asset value per I share fell 13.33 pence from 27.47 pence to 14.14 pence.
A dividend of 4 pence per H share would be paid on 18 December 2020 with a record date of 4 December 2020.
At 9:19am: (LON:EDGH) Edge Performance VCT share price was 0p at 70.5p
Story provided by StockMarketWire.com
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