Triple Point VCT 2011 Plc Interim Management Statement (9073L)
15 January 2016 - 12:58AM
UK Regulatory
TIDMTPO
RNS Number : 9073L
Triple Point VCT 2011 Plc
14 January 2016
Triple Point VCT 2011 plc
14 January 2016
Interim Management Statement for the quarter ended 30 November
2015
Highlights
The Company
The Company continues to meet the requirement that 70% of the
portfolio must be invested in VCT qualifying investments. At 30
November qualifying holdings accounted for 59% of the overall
investment portfolio and the VCT qualifying status was met in part
by virtue of investments that were disposed of in the previous six
months which continued to count towards the VCT qualifying status.
Since 30 November 2015 distributions of realisation proceeds mean
that at the date of this statement qualifying holdings accounted
for over 80% of the overall investment portfolio.
Ordinary Share Class
-- The Net Asset Value at 30 November 2015 was 55.04p per share.
-- During the period the Ordinary Share Class realised an
investment for GBP2.6million that was made in April 2015. The
investment went into a company that intended to trade in the hydro
electric power sector, but the deal did not come to fruition. The
cash realised was repaid to shareholders as part of the dividend
payment on 18 December 2015.
-- After the period end a further dividend of 20.7p per share
was paid bringing the total dividends paid to 79.75p per share.
-- The pie chart below shows the unquoted qualifying investment portfolio by sector:
Energy Generation and Infrastructure 37%
Hydro Electric Power 26%
Hydro Project Management 18%
Landfill Gas 16%
Cinema Digitisation 3%
-- A total return to shareholders of 114.09p per share is made up of:
Net asset value at 30 November 2015 55.04p (at 18 December 2015 34.34p)
Dividends paid up to 30 November 2015 59.05p (at 18 December 2015 79.75p)
A Share Class
-- The Net Asset Value at 30 November 2015 was 100.17p per share.
-- During the period the A Share Class realised an investment
for GBP2.3 million that was made in March 2015. The investment was
intended to go into a company that would trade in the hydro
electric power sector, but the deal did not come to fruition.
Alternative deals are being sought.
-- 100% of the unquoted investment portfolio is in Hydro Electric Power.
New B Share Class
The Company issued a prospectus and circular on 23 December 2015
relating to a proposed offer for subscription to raise up to
GBP10,000,000 by the issue of "B" ordinary shares of 1 pence each
in the Company, with an over-allotment facility of up to a further
GBP10,000,000.
Net Assets at 30 November 2015:
30-Nov-15 31-Aug-15 28-Feb-15
Unaudited Unaudited Audited
Ord. A Ord. A Ord.
Shares Shares Total Shares Shares Total Shares A Shares Total
-------------------- -------- -------- -------- -------- -------- -------- -------- ---------
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
-------------------- -------- -------- -------- -------- -------- -------- -------- --------- --------
VCT qualifying
unquoted
investments 5,065 5,403 10,468 7,659 7,653 15,312 18,311 0 18,311
-------------------- -------- -------- -------- -------- --------- --------
VCT non qualifying
unquoted
investments: 2,522 1,243 3,765 2,347 59 2,406 2,253 0 2,253
-------- -------- -------- -------- -------- -------- -------- --------- --------
Cash and
cash equivalents 396 3,165 3,561 504 2,103 2,607 17 0 17
-------------------- -------- -------- -------- -------- --------- --------
Total Investments 7,983 9,811 17,794 10,510 9,815 20,325 20,581 0 20,581
-------------------- -------- -------- -------- -------- -------- -------- -------- --------- --------
Other assets
& liabilities 3,217 157 3,374 585 94 679 -28 0 -28
-------------------- -------- -------- -------- -------- -------- -------- -------- --------- --------
Net assets 11,200 9,968 21,168 11,095 9,909 21,004 20,553 0 20,553
-------- -------- -------- -------- -------- -------- -------- --------- --------
Net asset
value per
share 55.04 100.17 n/a 54.52 99.58 n/a 101.00 n/a n/a
-------------------- -------- -------- -------- -------- -------- -------- -------- --------- --------
For further information, please contact Claire Ainsworth 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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