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18 Jan 2018 14:35
Triple Point VCT 2011 plc
LEI: 213800AOOAQA5XQDEA89
18 January 2018
Interim Management Statement for the quarter ended 30 November 2017
Highlights
The Company
The Company's funds at 30 November 2017 were 97% 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.
Ordinary Share Class
· The Net Asset Value ("NAV") at 30 November 2017 was 1.00p per share. On 16 January 2018 the Ordinary Shares were cancelled and the final distribution of 1.00p will be paid by 31 January 2018.
· Taking the NAV and the total dividends of 114.05p paid at 30 November 2017, the return to investors was 115.05p per share.
A Share Class
· The Net Asset Value at 30 November 2017 was 103.48p per share.
· During the 9 month period to 30 November 2017 the A Share Class made a profit of 3.41p per share.
· The A Shares unquoted investment portfolio by sector at 30 November 2017:
Hydro Electric Power 67%
SME Funding Hydro Electric Power 17%
SME Funding Other 16%
B Share Class
· The Net Asset Value at 30 November 2017 was 99.69p per share.
· During the 9 month period to 30 November 2017 the B Share Class made a loss of 0.07p per share.
· The Company has invested in two companies that will construct and operate gas power plants. Both power plants are under construction and expected to be commissioned in Q1 2018.
· The B Shares unquoted investment portfolio by sector at 30 November 2017.
Gas Power 75%
SME Funding Other 25%
Net Assets at 30 November 2017:
| 30-Nov-17 |
| 28-Feb-17 | ||||||
| Unaudited |
| Audited | ||||||
| Ord. Shares | A Shares | B Shares | Total |
| Ord. Shares | A Shares | B Shares | Total |
| £'000 | £'000 | £'000 | £'000 |
| £'000 | £'000 | £'000 | £'000 |
VCT qualifying unquoted investments | 0 | 6,335 | 5,100 | 11,435 |
| 191 | 6,335 | 5,100 | 11,626 |
VCT non qualifying unquoted investments | 0 | 3,175 | 1,686 | 4,861 |
| 5 | 3,467 | 1,686 | 5,158 |
Cash and cash equivalents | 227 | 139 | 64 | 430 |
| 1,448 | 29 | 48 | 1,525 |
Total Investments | 227 | 9,649 | 6,850 | 16,726 |
| 1,644 | 9,831 | 6,834 | 18,309 |
Other assets & liabilities | -23 | 649 | -47 | 579 |
| 660 | 525 | -26 | 1,159 |
Net assets | 204 | 10,298 | 6,803 | 17,305 |
| 2,304 | 10,356 | 6,808 | 19,468 |
Net asset value per share | 1.00 | 103.48 | 99.69 | n/a |
| 11.32 | 104.07 | 99.76 | n/a |
For further information, please contact Ben Beaton or Belinda Thomas at Triple Point Investment Management LLP on 0207 201 8989.
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