Downing Inc VCT3 Downing Income Vct 3 Plc : Interim Management Statement
15 August 2013 - 2:35AM
UK Regulatory
TIDMDI3O
Downing Income VCT 3 plc
Interim Management Statement
for the three months ended 30 June 2013
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of
the UK Listing Authority, Downing Income VCT 3 plc presents an Interim
Management Statement for the three month period ended 30 June 2013. The
statement also includes relevant financial information between the end
of the period and the date of this statement.
Performance
30 Jun 31 Mar
2013 2013
(Unaudited) (Audited)
Ordinary Shares of 3.037p each ("Ordinary Share") Pence Pence
Net Asset Value 90.1 89.5
Cumulative distributions paid since 1 April 2010 17.1 17.1
Total return 107.2 106.6
'E' Shares of 1p each ("'E' Share")
Net Asset Value 89.6 89.4
Cumulative distributions paid since launch of 'E'
Share offer 5.0 5.0
Total return 94.6 94.4
Dividends paid or declared in the period
On 24 July 2013 the Company declared a final dividend of 2.5p per
Ordinary Share and 2.5p per 'E' Share for the year to 31 March 2013,
payable on 30 September 2013, subject to Shareholder approval at the
Annual General Meeting on 17 September 2013.
Unaudited investment portfolio summary at 30 June 2013
Valuation
movement
since
31 March
Ordinary Share portfolio Cost Valuation 2013
GBP'000 GBP'000 GBP'000
Ten largest investments by value
Pennant International plc * 183 1346 38
Tracsis plc * 282 999 (137)
Cadbury House Holdings Limited 1134 976 -
Accumuli plc * 400 909 185
Ludorum plc * 1254 774 -
Leytonstone Pub Limited 582 611 -
Domestic Solar Limited 500 560 -
Vulcan Renewables Limited 500 500 -
Aminghurst Limited 403 403 -
Hoole Hall Country Club Holdings Limited 480 396 -
5,718 7,474 86
Other venture capital investments 4,022 3,234 49
Total 9,740 10,708 135
Valuation
movement
since
31 March
'E' Share portfolio Cost Valuation 2013
GBP'000 GBP'000 GBP'000
Ten largest investments by value
Mosaic Spa and Health Clubs Limited 500 500 -
Fresh Green Power Limited 400 400 -
Baron House Developments LLP 385 385 -
Vulcan Renewables Limited 300 300 -
Oak Grove Renewables Limited 283 283 -
Hoole Hall Hotel Limited 270 270 -
West Tower Holdings Limited 232 232 -
Aminghurst Limited 210 210 -
Green Energy Production UK Limited 200 200 -
Southampton Hotel Developments Limited 200 200 -
2,980 2,980 -
Other venture capital investments 779 856 21
Total 3,759 3,836 21
All investments are unquoted unless otherwise stated.
*Quoted on AIM
After accounting for additions and disposals in the period.
Investment additions during the three month period ended 30 June 2013
Ordinary
Shares 'E' Shares Total
GBP'000 GBP'000 GBP'000
Qualifying investments
Augusta Pub Company Limited - 100 100
Curo Compensation Limited - 100 100
Pabulum Pubs Limited - 200 200
Non qualifying investments
Inland Homes plc 310 140 450
310 540 850
Since the period end the Company invested GBP583,000 in Science in Sport
plc split as GBP250,000 from the Ordinary Share pool and GBP333,000 from
the 'E' Share pool.
Investment disposals during the three month period ended 30 June 2013
Total
Value at realised
1 April Disposal (Loss)/gain (loss)/gain
Cost 2013 * proceeds against cost in period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Ordinary Share pool
Animalcare Group
plc 35 77 82 47 5
Baron House
Developments LLP 92 92 92 - -
Elektron Technology
plc 530 319 287 (243) (32)
Kidspace Adventures
Limited 9 9 9 - -
Pennant
International plc 11 75 73 62 (2)
Real Time Logistics
Solutions Limited 31 105 105 74 -
Tristel plc 325 126 117 (208) (9)
1,033 803 765 (268) (38)
'E' Share pool
Baron House
Developments LLP 115 115 115 - -
*After accounting for purchases in the period
Since the period end the Ordinary Share pool partially disposed of
holdings in one investment, proceeds received thereon totalled
GBP341,000. The 'E' Share pool disposed of one investment, receiving
proceeds of GBP232,000.
Share Realisation and Reinvestment Programme and Top Up Offer
In April 2013, the Company completed a Share Realisation and
Reinvestment Programme ("SRRP"), whereby it acquired a total of
2,151,470 shares at a price of 87.9 per share. Participating
Shareholders reinvested the proceeds and were allotted 2,086,669 shares
at a price of approximately 90.6 per share.
In addition, the Company undertook a "Top Up" offer under which 198,907
shares were allotted at a price of approximately 90.6 per share.
Changes to share capital
Ordinary Shares 'E' Shares
of 3.037p each of 1p each
Shares GBP'000 Shares GBP'000
As at 1 April 2013 12,436,875 377 5,750,336 57
Shares issued under SRRP 2,086,669 63 - -
Shares issued under top up 198,907 6 - -
Shares bought back and cancelled
under SRRP (2,151,470) (65) - -
As at 30 June 2013 12,570,981 381 5,750,336 57
Material events
Other than described above, there were no material events during the
period from 1 April 2013 to 30 June 2013 or in the period from 1 July
2013 to the date of this announcement.
This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Downing Income VCT 3 plc via Thomson Reuters ONE
HUG#1723110
Downing Vct 3 (LSE:DI3O)
Historical Stock Chart
From May 2024 to Jun 2024
Downing Vct 3 (LSE:DI3O)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Downing Vct 3 (London Stock Exchange): 0 recent articles
More Downing Vct 3 News Articles