VANCOUVER, June 30, 2015 /CNW/ - (TSXV: PTF) Pender Growth Fund (VCC) Inc., (the "Fund") announces that it has entered into a binding agreement to sell its interest in one of its significant investments. The Fund is also adjusting down the value of another investment.
As a result of these two developments, the net asset value of the Fund will increase by approximately $2.4 million or $0.60 per Class C common share. As of today, the total net asset value of the Fund is approximately $17.0 million or $1.91 per Class C common share.
As a result of this transaction, the Fund anticipates that it will be in a position to redeem approximately $3 million of Class B and R shares that have been submitted for redemption.
The closing of the transaction is expected take place before the end of July. The Fund will provide further details at that time.
About Pender Growth Fund
The Fund is a later-stage, diversified, venture capital corporation, focused on undervalued public companies. The Fund's investors in British Columbia received a tax credit of 30% from the provincial government at the time of purchase. The Fund was established in 2003 and its net asset value is approximately $17.0 million.
SOURCE Pender Growth Fund (VCC) Inc.
For further information: please visit www.pendergrowthfund.com or contact: Lucy Waters, (604) 688-1511, Toll Free: (866) 377-4743, [email protected]