PEMBROKE VCT PLC

Report Publication Announcement • Jun 28, 2022

National Storage Mechanism | Additional information

RNS Number : 5433Q

Pembroke VCT PLC

28 June 2022

Pembroke VCT plc (the "Company")

Annual Report & Financial Statements for the year ended 31 March 2022;

Notice of Dividend; &

Share Buyback Programme

Results announcement

The Company's directors ("Directors") are pleased to attach the Company's annual report and financial statements for the year ended 31 March 2022.  The highlights Include:

·    Net asset value total return per share of 151.0p (+13% in the year and +24% over two years)

·    Net asset value per share of 126.0p

·    £200m fund size; an increase of 50% on last year

·    £19.1m to shareholders in the year to March 2022 through dividends and share buyback, and

·    7.0p per share in dividends in each of the last two financial years.

Click on, or paste the following link into your web browser, to view the associated PDF document:

http://www.rns-pdf.londonstockexchange.com/rns/5433Q_1-2022-6-28.pdf

The annual report and financial statements for the year ended 31 March 2022 may also be downloaded from the Company's website at www.pembrokevct.com.

Notice of dividend

The Company has declared a 5.0p per share interim dividend (£8.3m). The record date is 8 July 2022, the ex-dividend date is 7 July 2022 and the payment date is 29 July 2022.  The last date for receipt of elections in respect of the interim dividend under the Company's dividend re-investment scheme is 15 July 2022.

The Directors are pleased to announce their decision to increase the average annual dividend payment per share target from 3.0p per share to 5.0p per share with effect from the year ending 31 March 2023.

Share buyback programme

The VCT rules allow £44m of the Company's special reserves to become distributable in April 2023. Accordingly, the Board intends a share buyback in April 2023 and will consider further share buybacks every six months thereafter.

For further details about the Company please either visit the Company's website:

Pembroke VCT plc

www.pembrokevct.com 

or contact:

Andrew Wolfson / Chris Lewis

Pembroke Investment Managers LLP (Manager)

+44 20 7766 6900

Robin Smeaton

The City Partnership (UK) Limited (Company Secretary)

enquiries@city.uk.com

Keith Lassman

Howard Kennedy Corporate Services LLP

+44 20 3755 5561

Seven Hills PR

Gary O'Sullivan

0781 790 3406

gary.osullivan@wearesevenhills.com

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