Triple Point VCT 2011 Plc Interim Management Statement (2315V)
27 January 2017 - 12:34AM
UK Regulatory
TIDMTPO
RNS Number : 2315V
Triple Point VCT 2011 Plc
26 January 2017
Triple Point VCT 2011 plc
26 January 2017
Legal Entity Identifier: 213800AOOAQA5XQDEA89
Interim Management Statement for the quarter ended 30 November
2016
Highlights
The Company
The Company's funds at 30 November 2016 were 86% 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. At 30
November 2016 qualifying investments represented 64% of the total
Investment Portfolio and 99% of the funds that are required to meet
the 70% condition.
Ordinary Share Class
-- The Net Asset Value ("NAV") at 30 November 2016 was 11.04p per share.
-- Taking the NAV and the total dividends of 103.75p paid at 30
November 2016, the return to investors was 114.79p per share.
-- For the 9 month period to 30 November 2016 the share class
made a loss of 0.22p per share. As investments are realised to exit
the Ordinary Share class, income has reduced and the overheads are
greater than the residual income resulting in this small loss.
-- The Ordinary Share's unquoted investment portfolio by sector at 30 November 2016 is:
Hydro Electric Power 58%
Gas Power 33%
Cinema Digitisation 9%
-- A 24p dividend was paid to Ordinary Class shareholders on 11
November 2016. The Company and the Investment Manager are focused
on the successful realisation of the remaining investments in this
share class during the first half of 2017.
A Share Class
-- The Net Asset Value at 30 November 2016 was 102.94p per share.
-- A profit of 2.40p per share was made for the 9 month period to 30 November 2016.
-- The A Share's unquoted investment portfolio by sector at 30 November 2016 is:
Hydro Electric Power 57%
SME Funding - Hydro Electric Power 32%
SME Lending - Other 11%
New B Share Class
-- The Net Asset Value at 30 November 2016 was 99.25p per share.
-- A loss of 0.87p per share was made during the 9 month period
to 30 November 2016. Two investments made by the B share class are
working towards financial close, and are not yet earning a return.
Therefore overheads were greater than revenue for the period.
-- The B Share's unquoted investment portfolio by sector at 30 November 2016 is:
Gas Power 68%
SME Lending - Other 32%
Net Assets at 30 November 2016:
30-Nov-16 29-Feb-16
Unaudited Audited
Ord. Ord. A
Shares A Shares B Shares Total Shares Shares Total
----------------------- -------- --------- --------- -------- -------- -------- --------
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
----------------------- -------- --------- --------- -------- -------- -------- --------
VCT qualifying
unquoted investments 1,501 5,463 4,600 11,564 5,269 5,403 10,672
----------------------- -------- -------- -------- --------
VCT non qualifying
unquoted investments 5 4,069 2,160 6,234 1,274 4,063 5,337
----------------------- -------- --------- --------- -------- -------- -------- --------
Cash and cash
equivalents 150 184 31 365 30 307 337
----------------------- -------- -------- --------
Total Investments 1,656 9,716 6,791 18,163 6,573 9,773 16,346
----------------------- -------- --------- --------- -------- -------- -------- --------
Other assets
& liabilities 591 527 -17 1,101 603 232 835
----------------------- -------- -------- --------
Net assets 2,247 10,243 6,774 19,264 7,176 10,005 17,181
-------- --------- --------- -------- -------- -------- --------
Net asset
value per
share 11.04 102.94 99.25 n/a 35.26 100.54 n/a
----------------------- -------- --------- --------- -------- -------- -------- --------
For further information, please contact Ben Beaton or Belinda
Thomas 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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