1 Nov 2018 09:26
Downing FOUR VCT plc: Unaudited Net Asset Value(s)
Downing FOUR VCT plc LEI: 21380035MV1VRYEXPR95 Unaudited Net Asset Value(s) as at 19 October 20181 November 2018
Downing FOUR VCT plc (“the Company”) announces that the unaudited Net Asset Values of its Share Classes, as at 19 October 2018, were as follows:
| DSO D Share | 30.3p |
| DP67 Ordinary Share | 50.5p |
| DP2011 General Ordinary Share | - |
| DP2011 General A Share | 13.0p |
| DP2011 Structured Ordinary Share | - |
| DP2011 Structured A Share | 9.8p |
| Generalist Ordinary Share | 90.4p |
| Healthcare Ordinary Share | 86.9p |
The unaudited Balance Sheet of the Company is shown below, followed by a summary of the investments held by each Share pool.
UNAUDITED BALANCE SHEET
as at 19 October 2018
| As at 19 October2018 | As at 31 March2018 | ||||
| £’000 | £’000 | ||||
| Fixed assets | |||||
| Investments | 39,341 | 35,192 | |||
| Current assets | |||||
| Debtors | 572 | 695 | |||
| Cash at bank and in hand | 10,770 | 21,063 | |||
| 11,342 | 21,758 | ||||
| Creditors: amounts falling due within one year | (211) | (615) | |||
| Net current assets | 11,131 | 21,143 | |||
| Net assets | 50,472 | 56,335 | |||
| Capital and reserves | |||||
| Called up Share capital | 130 | 188 | |||
| Capital redemption reserve | 31 | 31 | |||
| Special reserve | 4,463 | 8,021 | |||
| Share premium account | 44,621 | 43,904 | |||
| Funds held in respect of shares not yet allotted | 234 | 420 | |||
| Revaluation reserve | (2,550) | 234 | |||
| Capital reserve – realised | 4,855 | 4,641 | |||
| Revenue reserve | (1,312) | (1,104) | |||
| Total equity shareholders’ funds | 50,472 | 56,335 | |||
PORTFOLIO SUMMARIES
as at 19 October 2018
| DSO D Share Pool | Cost | Valuation | % ofportfolio |
| £’000 | £’000 | ||
| Venture Capital investments | |||
| Lambridge Solar Limited | 500 | 605 | 25.1% |
| Pearce and Saunders Limited | 300 | 354 | 14.7% |
| Fresh Green Power Limited | 189 | 231 | 9.6% |
| Apex Energy Limited | 400 | 200 | 8.3% |
| Green Energy Production UK Limited | 100 | 74 | 3.1% |
| Pearce and Saunders DevCo Limited | 20 | 20 | 0.8% |
| Fubar Stirling Limited | 126 | 5 | 0.2% |
| Total investments | 1,635 | 1,489 | 61.8% |
| Cash at bank and in hand | 921 | 38.2% | |
| Total | 2,410 | 100.0% |
| DP67 Share Pool | Cost | Valuation | % ofportfolio |
| £’000 | £’000 | ||
| Venture Capital investments | |||
| Cadbury House Holdings Limited | 1,409 | 1,613 | 31.8% |
| Snow Hill Developments LLP | 584 | 830 | 16.4% |
| Fenkle Street LLP | 405 | 603 | 11.9% |
| Gatewales Limited | 343 | 527 | 10.4% |
| Oak Grove Renewables Limited | 820 | 492 | 9.7% |
| Yamuna Energy Limited | 400 | 400 | 7.9% |
| London City Shopping Centre Limited | 99 | 99 | 2.0% |
| Total investments | 4,060 | 4,564 | 90.1% |
| Cash at bank and in hand | 501 | 9.9% | |
| Total | 5,065 | 100.0% |
| DP2011 General Share Pool | Cost | Valuation | % ofportfolio |
| £’000 | £’000 | ||
| Venture Capital investments | |||
| Snow Hill Developments LLP | 750 | 1,178 | 48.4% |
| Wickham Solar Limited | 550 | 635 | 26.1% |
| Oak Grove Renewable Limited | 400 | 254 | 10.4% |
| London City Shopping Centre Limited | 88 | 88 | 3.6% |
| Mosaic Spa and Health Clubs Limited | 96 | 64 | 2.7% |
| Fubar Stirling Limited | 133 | 5 | 0.3% |
| Odysian (Holdings) Limited | 233 | - | 0.0% |
| Total investments | 2,250 | 2,224 | 91.5% |
| Cash at bank and in hand | 208 | 8.5% | |
| Total | 2,432 | 100.0% |
| DP2011 Structured Share Pool | Cost | Valuation | % ofportfolio |
| £’000 | £’000 | ||
| Venture Capital investments | |||
| Wickham Solar Limited | 550 | 635 | 51.1% |
| Oak Grove Renewables Limited | 545 | 347 | 27.9% |
| Mosaic Spa and Health Clubs Limited | 64 | 42 | 3.4% |
| Fubar Stirling Limited | 90 | 4 | 0.3% |
| Odysian (Holdings) Limited | 155 | - | 0.0% |
| Total investments | 1,404 | 1,028 | 82.7% |
| Cash at bank and in hand | 215 | 17.3% | |
| Total | 1,243 | 100.0% |
| Generalist Share pool | Cost | Valuation | % ofportfolio |
| £’000 | £’000 | ||
| Venture Capital investments | |||
| Live Better With Limited | 1,211 | 1,284 | 4.5% |
| Lignia Wood Company Limited | 1,111 | 1,111 | 3.9% |
| Maverick Pubs (Holdings) Limited | 1,000 | 1,000 | 3.5% |
| E-Fundamentals (Group) Limited | 917 | 917 | 3.2% |
| BridgeU Corporation | 811 | 811 | 2.9% |
| Hackajob Limited | 784 | 784 | 2.8% |
| Empiribox Limited | 750 | 750 | 2.7% |
| Xupes Limited | 750 | 750 | 2.7% |
| Glownet Limited | 741 | 741 | 2.6% |
| Ormsborough Limited | 900 | 621 | 2.2% |
| Volo Commerce Limited | 567 | 567 | 2.0% |
| Fenkle Street LLP | 321 | 321 | 1.1% |
| Virtual Class Limited | 525 | 282 | 1.0% |
| Destiny Pharma plc | 500 | 242 | 0.9% |
| Arecor Limited | 240 | 240 | 0.9% |
| Limitless Technology Limited | 173 | 173 | 0.6% |
| Masters of Pie Limited | 167 | 167 | 0.6% |
| ADC Biotechnology Limited | 250 | 104 | 0.4% |
| Snow Hill Developments LLP | 86 | 92 | 0.3% |
| Mosaic Spa and Health Clubs Limited | 37 | 37 | 0.1% |
| London City Shopping Centre Limited | 30 | 30 | 0.1% |
| 11,871 | 11,024 | 39.0% | |
| Liquidity investments | |||
| MI Downing Monthly Income Fund | 3,950 | 3,707 | 13.1% |
| MI Downing UK Micro-Cap Growth Fund | 4,025 | 3,670 | 13.0% |
| Downing Strategic Micro-Cap Investment Trust plc | 4,100 | 3,444 | 12.2% |
| MI Downing Diversified Global Managers Fund | 1,800 | 1,805 | 6.4% |
| 13,875 | 12,626 | 44.7% | |
| Total investments | 25,746 | 23,650 | 83.7% |
| Cash at bank and in hand | 4,612 | 16.3% | |
| Total | 28,262 | 100.0% |
| Healthcare Share pool | Cost | Valuation | % ofportfolio |
| £’000 | £’000 | ||
| Venture Capital investments | |||
| Live Better With Limited | 1,106 | 1,179 | 11.0% |
| Arecor Limited | 880 | 880 | 8.1% |
| ADC Biotechnology Limited | 892 | 372 | 3.5% |
| Destiny Pharma plc | 750 | 363 | 3.4% |
| 3,628 | 2,794 | 26.0% | |
| Liquidity investments | |||
| MI Downing Monthly Income Fund | 1,100 | 1,035 | 9.7% |
| MI Downing UK Micro-Cap Growth Fund | 1,125 | 1,022 | 9.6% |
| MI Downing Diversified Global Managers Fund | 950 | 947 | 8.9% |
| Downing Strategic Micro-Cap Investment Trust plc | 700 | 588 | 5.5% |
| 3,875 | 3,592 | 33.7% | |
| Total investments | 7,503 | 6,386 | 59.7% |
| Cash at bank and in hand | 4,313 | 40.3% | |
| Total | 10,699 | 100.0% |
Thames V.2 Dp67 (D467)