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PRIVATE EQUITY
 

News Room

Aberdeen Growth Opportunities VCT 2 PLC - continued progress and strong investment activity

The board is pleased to report on a year of further consolidation and progress for Aberdeen Growth Opportunities VCT 2. Among the highlights are:

  • £5m raised in the S Share issue
  • Qualifying threshold of 70% achieved in Ordinary Share Pool
  • Total Return on Ordinary shares stable at 112.9p per share (pps) at year end, fractionally down 1.1% over the year
  • NAV of Ordinary shares at year end of 104.9pps
  • NAV of S shares 97.2pps at year end up from 95.0p immediately after launch, an increase of 2.3%
  • Strong level of new investment activity; 12 new private equity investments completed for Ordinary Share pool, 9 for S share
  • One successful exit from an unlisted company during the year generating a gain of 3.2p per Ordinary share
  • Net realised gains from AIM stocks of 1.5p per Ordinary share for the year
  • Dividends proposed of 1.5p per Ordinary share and 1.25p per S Share
  • Since the Company's launch, Ordinary shareholders will have received 9.5p per share in tax free dividends

S Share issue

The Company successfully raised £5 million in the S Share issue, increasing the size of the overall capital base by approximately 60% without a corresponding increase in costs, thereby improving the efficiency of the Company.

VCT Qualifying Status

The Company achieved the 70% qualifying investment hurdle which it was required to do to maintain approval as a VCT. The Company must continue to exceed the threshold, and the Manager is well placed through its regional network of offices to provide a suitable flow of quality investment opportunities to allow the company to significantly exceed this minimum level.

Supporting Information:

  • Highly diversified generalist VCT, with multi-asset private equity and AIM portfolios
  • Access to around 900 investment opportunities per annum – supporting the Manager's strategy of finding suitable private equity transactions which offer growth and a healthy running yield, in tandem with an actively managed AIM business.

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