Thames V.2 Dp67 Regulatory News (D467)

1 Nov 2018 09:26

Downing FOUR VCT plc: Unaudited Net Asset Value(s)

Downing FOUR VCT plc LEI: 21380035MV1VRYEXPR95 Unaudited Net Asset Value(s) as at 19 October 20181 November 2018

Downing FOUR VCT plc (“the Company”) announces that the unaudited Net Asset Values of its Share Classes, as at 19 October 2018, were as follows:

DSO D Share	30.3p
DP67 Ordinary Share	50.5p
DP2011 General Ordinary Share	-
DP2011 General A Share	13.0p
DP2011 Structured Ordinary Share	-
DP2011 Structured A Share	9.8p
Generalist Ordinary Share	90.4p
Healthcare Ordinary Share	86.9p

The unaudited Balance Sheet of the Company is shown below, followed by a summary of the investments held by each Share pool.

UNAUDITED BALANCE SHEET

as at 19 October 2018

			As at 19 October2018		As at 31 March2018
			£’000		£’000
Fixed assets
Investments			39,341		35,192
Current assets
Debtors			572		695
Cash at bank and in hand			10,770		21,063
			11,342		21,758
Creditors: amounts falling due within one year			(211)		(615)
Net current assets			11,131		21,143
Net assets			50,472		56,335
Capital and reserves
Called up Share capital			130		188
Capital redemption reserve			31		31
Special reserve			4,463		8,021
Share premium account			44,621		43,904
Funds held in respect of shares not yet allotted			234		420
Revaluation reserve			(2,550)		234
Capital reserve – realised			4,855		4,641
Revenue reserve			(1,312)		(1,104)
Total equity shareholders’ funds			50,472		56,335

PORTFOLIO SUMMARIES

as at 19 October 2018

DSO D Share Pool	Cost	Valuation	% ofportfolio
	£’000	£’000
Venture Capital investments
Lambridge Solar Limited	500	605	25.1%
Pearce and Saunders Limited	300	354	14.7%
Fresh Green Power Limited	189	231	9.6%
Apex Energy Limited	400	200	8.3%
Green Energy Production UK Limited	100	74	3.1%
Pearce and Saunders DevCo Limited	20	20	0.8%
Fubar Stirling Limited	126	5	0.2%
Total investments	1,635	1,489	61.8%
Cash at bank and in hand		921	38.2%
Total		2,410	100.0%

DP67 Share Pool	Cost	Valuation	% ofportfolio
	£’000	£’000
Venture Capital investments
Cadbury House Holdings Limited	1,409	1,613	31.8%
Snow Hill Developments LLP	584	830	16.4%
Fenkle Street LLP	405	603	11.9%
Gatewales Limited	343	527	10.4%
Oak Grove Renewables Limited	820	492	9.7%
Yamuna Energy Limited	400	400	7.9%
London City Shopping Centre Limited	99	99	2.0%
Total investments	4,060	4,564	90.1%
Cash at bank and in hand		501	9.9%
Total		5,065	100.0%

DP2011 General Share Pool	Cost	Valuation	% ofportfolio
	£’000	£’000
Venture Capital investments
Snow Hill Developments LLP	750	1,178	48.4%
Wickham Solar Limited	550	635	26.1%
Oak Grove Renewable Limited	400	254	10.4%
London City Shopping Centre Limited	88	88	3.6%
Mosaic Spa and Health Clubs Limited	96	64	2.7%
Fubar Stirling Limited	133	5	0.3%
Odysian (Holdings) Limited	233	-	0.0%
Total investments	2,250	2,224	91.5%
Cash at bank and in hand		208	8.5%
Total		2,432	100.0%

DP2011 Structured Share Pool	Cost	Valuation	% ofportfolio
	£’000	£’000
Venture Capital investments
Wickham Solar Limited	550	635	51.1%
Oak Grove Renewables Limited	545	347	27.9%
Mosaic Spa and Health Clubs Limited	64	42	3.4%
Fubar Stirling Limited	90	4	0.3%
Odysian (Holdings) Limited	155	-	0.0%
Total investments	1,404	1,028	82.7%
Cash at bank and in hand		215	17.3%
Total		1,243	100.0%

Generalist Share pool	Cost	Valuation	% ofportfolio
	£’000	£’000
Venture Capital investments
Live Better With Limited	1,211	1,284	4.5%
Lignia Wood Company Limited	1,111	1,111	3.9%
Maverick Pubs (Holdings) Limited	1,000	1,000	3.5%
E-Fundamentals (Group) Limited	917	917	3.2%
BridgeU Corporation	811	811	2.9%
Hackajob Limited	784	784	2.8%
Empiribox Limited	750	750	2.7%
Xupes Limited	750	750	2.7%
Glownet Limited	741	741	2.6%
Ormsborough Limited	900	621	2.2%
Volo Commerce Limited	567	567	2.0%
Fenkle Street LLP	321	321	1.1%
Virtual Class Limited	525	282	1.0%
Destiny Pharma plc	500	242	0.9%
Arecor Limited	240	240	0.9%
Limitless Technology Limited	173	173	0.6%
Masters of Pie Limited	167	167	0.6%
ADC Biotechnology Limited	250	104	0.4%
Snow Hill Developments LLP	86	92	0.3%
Mosaic Spa and Health Clubs Limited	37	37	0.1%
London City Shopping Centre Limited	30	30	0.1%
	11,871	11,024	39.0%
Liquidity investments
MI Downing Monthly Income Fund	3,950	3,707	13.1%
MI Downing UK Micro-Cap Growth Fund	4,025	3,670	13.0%
Downing Strategic Micro-Cap Investment Trust plc	4,100	3,444	12.2%
MI Downing Diversified Global Managers Fund	1,800	1,805	6.4%
	13,875	12,626	44.7%
Total investments	25,746	23,650	83.7%
Cash at bank and in hand		4,612	16.3%
Total		28,262	100.0%

Healthcare Share pool	Cost	Valuation	% ofportfolio
	£’000	£’000
Venture Capital investments
Live Better With Limited	1,106	1,179	11.0%
Arecor Limited	880	880	8.1%
ADC Biotechnology Limited	892	372	3.5%
Destiny Pharma plc	750	363	3.4%
	3,628	2,794	26.0%
Liquidity investments
MI Downing Monthly Income Fund	1,100	1,035	9.7%
MI Downing UK Micro-Cap Growth Fund	1,125	1,022	9.6%
MI Downing Diversified Global Managers Fund	950	947	8.9%
Downing Strategic Micro-Cap Investment Trust plc	700	588	5.5%
	3,875	3,592	33.7%
Total investments	7,503	6,386	59.7%
Cash at bank and in hand		4,313	40.3%
Total		10,699	100.0%