The Company
SVG Capital plc is a private equity investor and fund management business listed on the London Stock Exchange. SVG Capital plc carries on business as an investment trust. Investment trust companies are able to switch investments without liability for capital gains tax. This, together with the advantages of professional management and spread of risk, makes investment trusts a valuable investment medium.In order to obtain exemption from capital gains tax the Company conducts itself with a view to continuing as an approved investment trust for the purposes of Section 842 of the United Kingdom Income and Corporation Taxes Act 1988 (as amended). The Company is not a close company for taxation purposes.
Information for shareholders
The Company’s shares are listed on the London Stock Exchange. The stock exchange code for the shares is SVI. The price of the shares is quoted daily in The Financial Times, The Daily Telegraph and The Times.The net asset value is calculated at 30 June and 31 December each year following an extensive valuation procedure. Due to the nature of the Company’s investments, it is not practical to publish the net asset value on a more frequent basis.
A factsheet containing information including the diversification of the portfolio and the Company’s largest investments is published quarterly and is available on request from the Company Secretary.
Capital gains tax information
For disposals of shares in the 2007/2008 tax year, the annual capital gains (after adjusting for indexation and taper relief) of private individuals in excess of £9,200 are assessed for capital gains tax at the individual’s marginal tax rate. Capital gains on shares disposed of by individuals may be eligible for taper relief. The taper reduces the amount of a chargeable gain according to how long the asset has been held for periods after 5 April 1998. Where shares were acquired before 6 April 1998, the capital gain will also be reduced by indexation allowance for the period up to April 1998, but not thereafter.For disposals of shares in the 2008/2009 tax year, the annual capital gains of private individuals in excess of £9,600 will be assessed for capital gains tax. No relief for indexation or taper relief will be available, but gains are taxed at a flat rate of 18%.
For the benefit of those shareholders who acquired their holdings in exchange for their interests in Schroder Ventures’ funds, the acquisition cost of the shares for capital gains tax purposes based upon initial dealings on 23 May 1996 was as follows:
Each ordinary share of £1.00: £1.915
Schroder investment trust dealing service
The Schroder investment trust dealing service provides a convenient and cost effective means of investing in the ordinary shares of the Company.The service offers investors:
- a regular investment option from a minimum of £50 per month;
- a lump sum investment option from a minimum of £1,000;
- daily dealing;
- competitive charges; and
- the option to reinvest income.
Individual Savings Account – Schroder maxi ISA plan
The Schroder ISA offers investors:- lump sum investments in the ordinary shares of the Company from a minimum of £1,000 to a maximum of £7,000 in the current tax year;
- a regular investment option from a minimum of £50 per month;
- competitive charges;
- the option to reinvest income; and
- the option to include other trusts.
Registrar services
Communications with shareholders are mailed to the address held on the share register. Any notifications and enquiries relating to registered share holdings, including a change of address or other amendment should be directed to Equiniti Registrars at PO Box 28448, Finance House, Orchard Brae, Edinburgh EH4 1WQ. The helpline telephone number of Equiniti Registrars is 0871 384 2776 (calls to this number are charged at 8p per minute from a BT landline. Other telephone providers’ charges may vary).Equiniti Limited maintains a web-based enquiry service for shareholders. Currently the ‘Shareview’ site (address below) contains information available on public registers. Shareholders will be invited to enter their name, shareholder reference (account number) and post code and will be able to view information on their own holding.
Visit www.shareview.co.uk for more details.