Downing FOUR VCT plc (the “Company”)
September 22, 2021
Net inventory values
Following the announcement entitled Net Asset Value, made by the Company at 6:26 p.m. on September 20, 2021, the Directors of the Company note that there has been a further increase in the price of the listed share of the company held, Arecor Therapeutics plc (“Arecor”), approximately 47% today. At the close of the market today (September 22, 2021), the Arecor share price is approximately 86% higher than the level included in the NAV of July 31, 2021, published on August 3, 2021.
This increase in the quoted bid price, together with the movements in the bid prices of other listed investments held by the Ventures and Healthcare share classes, resulted in total increases in value equivalent to 2.1p (3.2%) by Generalist ( Ventures) Share and 13.3 p (16.3%) by Share Santé, in terms of NAV, from positions of July 31, 2021.
The valuation of unlisted investments remains at their levels as of July 31, 2021, but will be reviewed again before the publication of the half-year report for the six-month period ended September 30, 2021.
By adjusting the unaudited NAVs of July 31, 2021 for the movements mentioned above, the unaudited NAVs of the Generalist (Ventures) and Healthcare share categories have now increased to 68.6 pence per Ventures share and to 94.8 pence. by Healthcare action.
These unaudited NAVs are shown before the payment of future dividends, of 2.75p per Share Generalist (Ventures) and 2.75p per Action Healthcare, which are due on Friday September 24, 2021.