AFHC Afh Fin Grp 24

 
TIDMAFHC TIDMAFHC 
 
ABERFORTH GEARED CAPITAL & INCOME TRUST plc ("AGCiT") 
 
 
The Net Asset Values ("NAVs") for the above company - 
calculated using a bid pricing basis for the securities held 
on the company's portfolio - as at the close of business on 3 
June 2010 were:- 
 
Capital Share (per Articles) = 353.88p 
 
Capital Share (capital entitlement of 100p per Income Share) = 
343.52p 
 
Capital Share (capital entitlement of 100p per Income Share 
and nil swap valuation) = 362.06p 
 
Income Share (excluding Current Year Revenue) = 100.32p 
 
Income Share (including All Revenue) = 107.67p 
 
As at 3 June 2010, AGCiT held 65 investments, the largest of 
which represented 4.5% of investable assets.  The market value 
of investments was GBP95.0m less bank debt and net current 
assets/liabilities (excluding Income Shares) of GBP31.5m to 
leave Shareholders' Funds (including Income Shares) of GBP63.5m. 
Details of the top 50 holdings, the portfolio's sectoral 
composition and other general information can be found on the 
Aberforth website at http://www.aberforth.co.uk. 
 
AGCiT employs a significant amount of bank debt to provide 
gearing in its capital structure. 
 
The number of Income Shares of 1p currently in issue is 
24,500,000.  The number of Capital Shares of 1p currently in 
issue is 10,500,000.  All net income will be attributed to 
Income Shares which have a capital entitlement of 95.56p each 
rising to 100p by the Planned Winding Up Date of 31 December 
2011, which date will subsist unless an earlier reconstruction 
is approved. Capital Shares receive no dividends but all 
capital after repayment of bank debt and capital entitlement 
of Income Shares. AGCiT's Bank facility is GBP34.3m (GBP30.0m of 
which is at a fixed interest rate of 6.47%).  The fair value 
of AGCiT's interest rate swap agreement based on the bid price 
at 03 June 2010 was a liability of GBP1,947,000 and is accounted 
for within the NAV of the Capital Share. 
 
Dividends are paid, semi-annually, to Income Shareholders with 
the first interim announced each July and paid in August and 
the second interim announced each January and paid in 
February. 
 
 
 
Contact - Gary Tait (Tel: 0131 220 0733) 
Aberforth Partners LLP, Secretaries - 4 June 2010 
ANNOUNCEMENT ENDS 
 

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