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Wright Reports > Company Profile Report > L > Leisure & Media VCT PLC

Leisure & Media VCT PLC - Company Profile Snapshot

Company Profile: Leisure & Media VCT PLC
Ticker: LEM
Exchanges: LON
2007 Sales: 125,000
Major Industry: Financial
Sub Industry: Investment Companies
Country: UNITED KINGDOM
Employees: 0

Business Description
Leisure & Media VCT PLC. The Company's principal activity is that of a Venture Capital Trust. The objective of the Company is to maximise tax-free capital and income distributions to shareholders, principally from the successful realisation of investments in the leisure and media sectors. The Company ceased to be an Investment Company within the meaning of Section 266 of the Companies Act 1985 on 15-Sept-2004 to enable the Company to pay a capital dividend in October 2004. The Company has been approved by the HM Revenue and Customs as a Venture Capital Trust for the purposes of Section 842AA of the Income and Corporation Taxes Act 1988 for the year ended 31-Dec-2006.Investment management services are provided by North Atlantic Value LLP for a fee calculated at 2% per annum (plus VAT at the applicable rate) of the net assets of the Company payable quarterly in arrears. The agreement is terminable by either party on not less than 12 months' written notice.

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