Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
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