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11 Jan 2010 10:23
TP70 VCT plc
11 January 2010
Interim Management Statement for the quarter ended 30 November 2009
TP70 VCT plc has pleasure in submitting its interim management statement for the quarter ended 30 November 2009. This constitutes the Company's second interim management statement for the financial period ending 28 February 2010, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
Net assets at 30 November 2009 comprised:
30 November 2009 31 August 2009 28 February 2009
Unaudited Unaudited Audited
£'000 % £'000 % £'000 %
VCT qualifying fixed
asset investments at 8,000 31.3 8,000 31.4 - -
fair value
VCT non-qualifying
fixed asset investments 9,800 38.4 11,305 44.4 1,505 5.9
at fair value
GAM Diversity exposure 3,989 15.6 3,813 15.0 3,659 14.3
(this exposure is subject to leverage
see Investment Activity)
Net current assets 3,760 14.7 2,348 9.2 20,340 79.8
25,549 100.0 25,466 100.0 25,504 100.0
Net asset value per
Ordinary share 79.79p 79.52p 79.65p
Investment Activity
The GAM Diversity exposure is obtained through a contract note with Julius Baer, meaning that after leverage, approximately 40% of the NAV is exposed to GAM Diversity Inc. For the 11 months to 30 November 2009, GAM Diversity Inc GBP Class has returned 4.48%.
Material Events and Transactions
During the quarter no shares were issued and no shares were purchased by the Company for cancellation.
Further Information
For further information, please contact David Dick or Chris Tottle at Triple Point Investment Management LLP on 0207 201 8989.
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