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21 Jan 2015 15:10
TP10 VCT plc
21 January 2015
Interim Management Statement for the quarter ended 30 November 2014
Highlights
· Net Asset Value increased from 84.20p per share to 84.40p per share during the period.
· 84% of the Company's portfolio is invested in qualifying investments
· At the date of this report the total paid by way of dividends to shareholders is 11.62p per share, bringing the total return to 96.02p per share
· The Company confirms its intention to pay a further dividend before the end of the financial year of 1.69p per share bringing the total dividend paid this year to 5p per share.
· The table below shows the unquoted qualifying investment portfolio by sector:
Electricity Generation | ||||||
Industry Sector | Cinema Digitisation | Hydro Project Management | Solar PV | Anaerobic Digestion | Landfill | Total Unquoted Qualifying Investments |
£'000 | £'000 | £'000 | £'000 | £'000 | £'000 | |
Investments at 30 November 2014 | 5,579 | 903 | 11,888 | 2,225 | 721 | 21,316 |
Investments % | 26.17% | 4.24% | 55.77% | 10.44% | 3.38% | 100.00% |
· By June 2015 shareholders will have held their shares for the five years required to secure up-front Tax relief. Both the Board and Investment Manager are planning to return funds to shareholders as soon as practical after this date by realising the unquoted investments.
Net Assets at 30 November 2014:
30 November 2014 | 31 August 2014 | 28 February 2014 | |||||||||
Unaudited | Unaudited | Audited | |||||||||
£'000 | % investments | £'000 | % investments | £'000 | % investments | ||||||
VCT qualifying unquoted investments | 21,316 | 83.9 | 21,316 | 84.2 | 22,266 | 85.2 | |||||
VCT non qualifying unquoted investments: | 4,009 | 15.8 | 3,933 | 15.5 | 3,805 | 14.6 | |||||
26,071 | 99.8 | ||||||||||
Cash and cash equivalents | 86 | 0.3 | 58 | 0.3 | 61 | 0.2 | |||||
Total Investments | 25,411 | 100.0 | 25,307 | 100.0 | 26,132 | 100.0 | |||||
Other assets & liabilities | 17 | 59 | 95 | ||||||||
Net assets | 25,428 | 25,366 | 26,227 | ||||||||
Net asset value per share | 84.40p | 84.20p | 87.05p | ||||||||
For further information, please contact Claire Ainsworth at Triple Point Investment Management LLP on 0207 201 8989.
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