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20 Jul 2009 16:20
TP70 VCT plc
20 July 2009
Interim Management Statement for the Quarter Ended 31 May 2009
TP70 VCT plc presents its interim management statement for the quarter ended 31 May 2009, which is the Company's first interim management statement for the year ended 28 February 2010, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
Net assets at 31 May 2009 comprised:-
|
Unaudited 31 May 2009 |
Audited 28 February 2009 |
|||
|
£'000 |
% |
£'000 |
% |
|
|
VCT qualifying investments at fair value |
8,000 |
31.6 |
- |
- |
|
GAM Diversity exposure (see Investment Activity below) |
3,688 |
14.5 |
3,659 |
14.3 |
|
Net Current Assets |
13,677 |
53.9 |
21,845 |
85.7 |
|
25,365 |
100.0 |
25,504 |
100.0 |
|
Net asset value per ordinary
share 79.21p 79.65p
Investment Activity
The direct GAM Diversity exposure through the Company's subsidiary has been replaced by a leverage exposure through a Julius Baer note, which means that the Diversity exposure is equivalent to approximately 40 % of the NAV. In addition, during the quarter the Company has invested £8 million into VCT qualifying holdings encompassing five investments into companies which provide digitalisation services to cinemas and three which provide satellite capacity.
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 Triple Point Investment Management LLP on 020 7201 8990.
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