The Income & Growth VCT plc ("the Company")
4 December 2013
Realisation of investment in Alaric Systems Limited
The Board of The Income & Growth VCT plc is pleased to announce that the
Company has realised its investment in Alaric Systems Limited ("Alaric")
through a sale to a subsidiary of NCR Corporation for cash proceeds of
£2.55 million. Alaric provides payment processing and fraud prevention
This realisation has contributed to total receipts of £2.65 million by the
Company over the life of the investment, representing a return of over
4.4 times original cost of £0.60 million.
This investment was valued at 30 June 2013 at £1.10 million in the unaudited
management accounts of the Company.
The Company may become entitled to receive additional sale proceeds of up to
£0.5 million over the period to December 2017, which is currently held in
escrow. This will be recognised, as and when appropriate, in future financial
This realisation is equivalent to an increase of approximately 1.84 pence in
the published net asset value (NAV) per share at 30 June 2013 of 110.5 pence.
The Directors intend to announce the audited NAV per share of the Company at
30 September 2013 later this month.
For further information, please contact:
Robert Brittain, for Mobeus Equity Partners LLP, Company Secretary
Tel: 020 7024 7000.
-0- Dec/04/2013 14:12 GMT
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