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11 Jul 2019 16:45
LEI: 213800AOOAQA5XQDEA89
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Triple Point VCT 2011 plc
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11 July 2019
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Interim Management Statement for the quarter ended 31 May 2019
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Highlights
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The Company
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The Company's funds at 31 May 2019 were 77% invested in a portfolio of VCT qualifying and non-qualifying unquoted investments. It continues to meet the condition that 70% of relevant funds must be invested in qualifying investments.
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The Venture Fund is progressing in deploying its funds, with 3 investments made, totalling 拢0.75m during the 3-month period to 31 May 2019. A further 拢0.5m was invested following the period end in June 2019. The Venture Fund has made a total of 4 investments totalling 拢1.25m to date.
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A Share Class
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路 The Net Asset Value at 31 May 2019 was 111.13p per share.
路 During the 3-month period to 31 May 2019 the A Share Class made a profit of 0.64p per share.
路 A fourth dividend of 4.00p per share was paid on 27 June 2019 bringing the total dividends paid to date to 11.75p.
路 Below shows the A Shares unquoted investment portfolio by sector at 31 May 2019:
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Hydro Electric Power: 69%
SME Funding- Hydro Electric Power: 16%
SME Funding - Other: 15%
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B Share Class
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路 The Net Asset Value at 31 May 2019 was 106.06p per share.
路 During the 3-month period to 31 May 2019 the B Share Class made a small loss of 0.04p per share.
路 On 27 June, the B Share Class paid its first dividend to shareholders of 5.00p per share.
路 Below shows the B Shares unquoted investment portfolio by sector at 31 May 2019:
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Gas Power: 76%
SME Funding - Other: 24%
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Venture Share Class
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路 The Net Asset Value at 31 May 2019 was 99.68p per share.
路 During the 3-month period to 31 May 2019 the Venture Share Class made a small loss of 0.47p per share.
路 During June the Venture Share fund made a 拢0.5m investment into Counting Up Limited, a financial technology company. The company aims to help small businesses and sole traders with the automation of their accounting and administration.
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Software as a Service: 60%
Telecoms: 40%
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Net Assets at 31 May 2019:
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聽 | 31-May-19 | |||
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聽 | A Shares | B Shares | Venture Shares | Total |
聽 | 拢'000 | 拢'000 | 拢'000 | 拢'000 |
VCT qualifying unquoted investments | 7,005 | 5,513 | 750 | 13,268 |
VCT non qualifying unquoted investments | 3,097 | 1,726 | - | 4,823 |
Cash and cash equivalents | (26) | 25 | 5,544 | 5,543 |
Total Investments | 10,076 | 7,264 | 6,294 | 23,634 |
Other assets & liabilities | 983 | (24) | (274) | 685 |
Net assets | 11,059 | 7,240 | 6,020 | 24,319 |
Net asset value per share | 111.13 | 106.06 | 99.68 | n/a |
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Net Assets at 28 February 2019:
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聽 | 28-Feb-19 | |||
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聽 | A Shares | B Shares | Venture Shares | Total |
聽 | 拢'000 | 拢'000 | 拢'000 | 拢'000 |
VCT qualifying unquoted investments | 7,005 | 5,513 | - | 12,518 |
VCT non qualifying unquoted investments | 3,097 | 1,726 | - | 4,823 |
Cash and cash equivalents | 3 | 43 | - | 46 |
Total Investments | 10,105 | 7,282 | - | 17,387 |
Other assets & liabilities | 890 | (39) | - | 851 |
Net assets | 10,995 | 7,243 | - | 18,238 |
Net asset value per share | 110.49 | 106.10 | 0.00 | n/a |
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For further information, please contact Ben Beaton or Belinda Thomas at Triple Point Investment Management LLP on 0207 201 8989.
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