4 Feb 2016 12:22
4 February 2016
PEMBROKE VCT PLC
Quarterly Report
for the period from 1 October to 31 December 2015
Pembroke VCT plc (the "Company") presents its quarterly report for the period from 1 October to 31 December 2015.
· £0.3 million invested in the quarter to 31 December
· Total investments of £19.3 million to date
· B Ordinary Share offer of up to £15 million, subscriptions currently underway
This quarterly report contains information that covers the period up to the date of its publication.
Performance
The net asset value of the Company at 31 December 2015 was £26.3 million, down from £26.8 million at 30 September 2015, reflecting adjustments to the value of investments in the current portfolio. The net asset value was £20.5 million in respect of the Ordinary share class and £5.8 million in respect of the B Ordinary share class.
This equates to a net asset value per share of 112.94 pence for the Ordinary share class and 99.56 pence for the B Ordinary share class.
In total, an additional £0.3 million was invested in the quarter all of which constituted follow-on investments into the existing portfolio. All investments were made by the B Ordinary share class.
Investments are held at fair value. During the quarter one portfolio investment was revalued upwards by £0.1 million, offset by two investments where values were reduced by an aggregate £0.5 million.
Investments made in the period
In the quarter ended 31 December 2015, the Company invested a total of £0.3 million comprising follow-on investments in three portfolio companies to support continued growth in line with their business plans.
Investments made post-period end
There have been no investments made between the end of the period and the date of this announcement.
New B Ordinary Share Offer
On 29 October 2015 Company published a prospectus (the "Prospectus") in relation to an offer for subscription of £15 million of B Ordinary Shares of 1p each in the capital of the Company with an over-allotment facility for up to a further £10 million of B Ordinary Shares (the "Offer").
About the Company
The Company is a generalist VCT focused on private equity style investments in the leisure and premium brands sectors. The Company seeks to invest in a diversified portfolio of small, principally unquoted companies, selecting those which Oakley Investment Managers LLP believes provide the opportunity for value appreciation.
The Company is not aware of any significant event or transaction which has occurred between 1 October 2015 and 4 February 2016 which has had a material effect on the financial position of the Company and has not been detailed above.
For further details about the Company please either visit the Company's website,
Pembroke VCT plc
www.pembrokevct.com,
or contact:
Oakley Investment Managers LLP (Manager)
+44 20 7766 6900
Peter Dubens / Andrew Wolfson
The City Partnership (UK) Limited (Company Secretary)
0131 243 7210
Doreen Nic