Foresight VCT PLC - invests in UK small and medium-sized enterprises, with a current portfolio of 40 companies across a range of sectors - Announces the sale of Innovation Consulting Group Ltd and Datapath Group Ltd.
The sale of Innovation Consulting generates proceeds of GBP6.8 million at completion. When added to the GBP500,000 of cash returned to-date, this implies a total cash-on-cash return of 4.4 times the capital of GBP1.7 million invested in 2015, Foresight says.
The sale of Datapath generates proceeds of GBP5.1 million at completion. When added to GBP5.4 million of cash returned to-date, this implies a total cash-on-cash return of 11.7 times the original investment in 2007.
Foresight's net asset value per share at September 30 was 85.7 pence. Says the two exits will add 1.5p, giving it a pro forma NAV per share of 87.2p.
Current stock price: 77.00p
12-month change: down 0.7%
By Heather Rydings, Alliance News senior economics reporter
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Foresight Technology (FTV)