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HG CAPITAL TRUST PLC - Net Asset Value(s)

Thursday, April 7, 2011 6:09 AM


Apr. 7, 2011 (PR Newswire UK Disclose) --

HgCapital Trust plc

All information is at 31 March 2011 and unaudited.

Performance at month end with net income reinvested

                  One month    Three     One    Three      Five Ten years
                              months    year    years     years          
                                                                         
Net asset value     1.6%        2.7%   24.3%    23.0%     92.7%    228.2%
                                                                         
(diluted)                                                                
                                                                         
Net asset value     1.4%        2.3%   20.7%    19.4%     87.1%    218.7%
(basic)                                                                  
                                                                         
Share price         10.4%       6.9%   26.5%    37.5%     79.9%    282.5%
                                                                         
FTSE All-Share      (0.8%)      1.0%    8.7%    17.0%     20.0%     44.2%
Index                                                                    

Sources: HgCapital, Factset

At month end
Net asset value:*                                                            
                                                                             
Basic                                                                1,149.6p
                                                                             
Diluted                                                              1,116.3p
                                                                             
Share price ordinary shares:                                         1,075.0p
                                                                             
Ordinary share price discount to NAV                                     6.5%
(basic):                                                                     
                                                                             
Ordinary share price discount to NAV                                     3.7%
                                                                             
(diluted):                                                                   
                                                                             
Share price subscription shares:                                       122.8p
                                                                             
Total net assets:                                                     £357.6m
                                                                             
Net yield:**                                                             2.6%
                                                                             
Gearing:                                                                 Nil%
                                                                             
Ordinary shares in issue:                                          31,103,915
                                                                             
Subscription shares in issue:                                       6,220,783
                                                                             
* includes 3 months net revenue of 8.93p                                     
                                                                             
** based on a dividend of 28.0p announced on 18 March 2011                   

Following the sale of SLV (expected to be completed in June 2011), the NAV is estimated to be £367.6 million (1,181.9 pence per share basic; 1,143.2 pence per share diluted). The ordinary share price is trading at a 9.0% discount to the adjusted NAV of 1,181.9 pence per share; 6.0% discount to the adjusted diluted NAV of 1,143.2 pence per share.

The NAV is recalculated monthly with respect to cash, cash equivalents and quoted investments in the portfolio.

Unquoted investments were last revalued at 31 December 2010.

Sector                                                           Total Assets
                                                                             
                                                                            %
                                                                             
Technology & Media                                                       29.0
                                                                             
Industrials                                                              11.7
                                                                             
Services                                                                 10.0
                                                                             
Healthcare                                                                9.5
                                                                             
Consumer & Leisure                                                        4.2
                                                                             
Renewable Energy                                                          4.3
                                                                             
Other                                                                     6.9
                                                                             
Cash and other liquid assets*                                            24.4
                                                                             
                                                                        100.0

* Cash and other liquid assets are stated before the sale of SLV scheduled to complete in June 2011. After completion, cash and other liquid assets is estimated to be 30.5% (28.2% after the proposed dividend to be paid in May 2011) of total adjusted net assets.

Ten Largest Investments
Company                           Total Assets Sector                          
                                                                               
                                             %                                 
                                                                               
TeamSystem                                 7.3 Technology & Media              
                                                                               
VISMA                                      6.6 Technology & Media              
                                                                               
Stepstone Solutions                        5.5 Technology & Media              
                                                                               
Frosunda                                   4.5 Healthcare                      
                                                                               
SLV Electronic                             4.2 Industrials                     
                                                                               
SHL                                        4.1 Services                        
                                                                               
Mondo Minerals Co-op                       3.8 Industrials                     
                                                                               
Achilles                                   3.6 Technology & Media              
                                                                               
HG Renewable Energy (Fund 1)               3.6 Renewable Energy                
                                                                               
Midas EqityCo                              3.4 Healthcare                      
                                                                               
                                          46.6                                 
                                                                               
07 April 2011
(Source: PR Newswire )
(Source: Quotemedia)

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