RENN Universal Growth : RUG – annual report

RENN Universal Growth has published its annual accounts covering the year to the end of March 2014. Over the period the net asset value rose in US dollar terms but fell as Sterling strengthened against the dollar (up 2.1% in US dollars and down 7% in pounds). The Board directors decided to prepare the accounts on a liquidation basis. The valuation of the largest holding, Anchor Free, was reviewed and maintained at its previous level. There is no current plan for another return of capital (after £13m was handed back last year) but the Board caution that, as the number of stocks dwindles, they may decide to recommend that the company goes into voluntary liquidation.

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