TP5 VCT PLC Interim Management Statement (6267U)
31 July 2015 - 1:03AM
UK Regulatory
TIDMTP5
RNS Number : 6267U
TP5 VCT PLC
30 July 2015
TP5 VCT plc
30 July 2015
Interim Management Statement for the quarter ended 30 June
2015
Highlights
Ordinary Share Class
-- Net Asset Value at 30 June 2015 is 62.00p
-- At the date of this report the total paid by way of dividends
to shareholders was 40.78p per share, bringing the total return to
102.78p per share.
-- Since the quarter end two further dividends have been paid:
- 4.26p per share on 3 July 2015
- 40.93p per share on 24 July 2015
B Share Class
-- Net Asset Value at 30 June 2015 is 42.66p
-- At the date of this report the total paid by way of dividends
to shareholders is 53.90p per share, bringing the total return to
96.56p per share.
-- Since the quarter end two further dividends have been paid:
- 2.94p per share on 3 July 2015
- 28.36p per share on 24 July 2015
Portfolio
-- During the quarter the solar PV companies in which the
Company invested disposed of a significant part of their portfolios
of roof-mounted solar systems. The disposal resulted in an
aggregate GBP1.7 million up-lift to the valuation of the investee
companies, equivalent to
7.93p per Ordinary Share and 5.33p per B Share, which was
recognised at 31 March 2015. During the quarter the Company sold
all but two of these companies and the investments in the remaining
two companies make up 100% of the investment portfolio at 30 June
2015.
-- On 30 June 2015, the Company completed the sale of its
investment in two Anaerobic Digestion companies for GBP3.5 million
resulting in an up-lift to the valuation of GBP443,000, equivalent
to 2.10p per Ordinary Share and 1.41p per B Share.
Outlook
-- The Directors expect soon to be bringing forward proposals
recommending to shareholders that the Company be put into Members
Voluntary Liquidation. Remaining funds will then be distributed by
the liquidator when they are realised.
-- After the dividend was paid on 24 July 2015 the remaining net
assets for each share class were:
- Ordinary Share Class 16.81p
- B Share Class 11.36p
Net Assets at 30 June 2015
30-Jun-15 31-Mar-15 30-Sep-14
Unaudited Audited Unaudited
Ord. Ord. Ord.
Shares B Shares Total Shares B Shares Total Shares B Shares Total
--------------------- -------- --------- -------- -------- --------- -------- -------- ---------
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
--------------------- -------- --------- -------- -------- --------- -------- -------- --------- --------
VCT qualifying
unquoted
investments 2,758 341 3,099 10,872 1,344 12,216 9,615 1,188 10,803
--------------------- -------- --------- -------- -------- --------- -------- -------- --------- --------
Cash and cash
equivalents 4,787 627 5,414 447 93 540 119 61 180
--------------------- -------- --------- -------- -------- --------- --------
Total Investments 7,545 968 8,513 11,319 1,437 12,756 9,734 1,249 10,983
--------------------- -------- --------- -------- -------- --------- -------- -------- --------- --------
Other assets
& liabilities 4,088 503 4,591 (61) (9) (70) (92) (15) (107)
--------------------- -------- --------- -------- -------- --------- -------- -------- --------- --------
Net assets 11,633 1,471 13,104 11,258 1,428 12,686 9,642 1,234 10,876
-------- --------- -------- -------- --------- -------- -------- --------- --------
Net asset
value per
share 62.00p 42.66p n/a 60.00p 41.41p n/a 51.38p 35.79p n/a
--------------------- -------- --------- -------- -------- --------- -------- -------- --------- --------
For further information, please contact Claire Ainsworth or
David Burton at Triple Point Investment Management LLP on 0207 201
8989.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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