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19 Nov 2008 17:26
Foresight VCT plc
Interim Management Statement for the Quarter Ended 30 September 2008
Foresight VCT plc presents its interim management statement for the quarter ended 30 September 2008. This constitutes the company's second interim management statement for the financial year ending 31 December 2008, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
The unaudited net asset value (NAV) per ordinary share as at 30 September 2008 was 46.5p (30 June 2008: 51.3p). The Board is not aware of any significant events or transactions between the date of the NAV and the date of publication of this Interim Management Statement.
The number of ordinary shares in issue at 30 September 2008 was 46,235,252. During the three months ended 30 September 2008 no shares were issued and no shares were re-purchased by the company for cancellation.
Net assets at 30 September 2008 comprised the following:
|
£'000 |
% of Net Assets |
|
|
Unquoted Investments at fair value as determined by the Directors |
12,423 |
57.9 |
|
Quoted investments at bid price |
4,456 |
20.7 |
|
Total venture capital investments |
16,879 |
78.6 |
|
Net Current Assets |
4,599 |
21.4 |
|
Net Assets |
21,478 |
100.0 |
Quoted investments are carried at bid price as at 30 September 2008. Unquoted investments are carried at fair value as at 30 September 2008 as determined by the directors.
During the three months ended 30 September 2008 the following significant investment transactions took place (all companies unquoted except where otherwise indicated):
New and follow-on investments:
|
Name of Company |
Business Activity |
Amount Invested £'000 |
|
Closed Loop London |
Food grade plastics recycling |
1,000 |
|
Alaric Systems |
Bank payment processing systems |
66 |
Investment disposals:
|
Name of Company |
Business Activity |
Original Cost £'000 |
Proceeds £'000 |
|
Mirada plc |
IT and media software |
187 |
1 |
For further information please contact:
Gary Fraser, Foresight Group: 01732 471 800
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