Downing Plan 2011 Downing Planned Exit Vct 2011 Plc : Interim Management Statement
06 Oktober 2014 - 5:45PM
UK Regulatory
TIDMD1GO
Downing Planned Exit VCT 2011 plc
Interim Management Statement for the three months ended 31 August 2014
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of
the UK Listing Authority, Downing Planned Exit VCT 2011 plc presents an
Interim Management Statement covering the period from 1 June 2014 to 31
August 2014.
Performance
Unaudited Unaudited Unaudited Audited
31 Aug 31 May 28 Feb 30 Nov
2014 2014 2014 2013
Pence Pence Pence Pence
General Share pool
Net Asset Value per General Ordinary Share 77.8 77.3 78.9 78.0
Net Asset Value per General 'A' Share 6.2 6.1 6.2 6.2
Cumulative dividends per General Ordinary Share 15.0 15.0 12.5 12.5
Total return per General Ordinary Share and 'A'
Share 99.0 98.4 97.6 96.7
Structured Share pool
Net Asset Value per Structured Ordinary Share 80.1 79.7 81.1 80.1
Net Asset Value per Structured 'A' Share 6.3 6.3 6.4 6.3
Cumulative dividends per Structured Ordinary Share 15.0 15.0 12.5 12.5
Total return per Structured Ordinary Share and 'A'
Share 101.4 101.0 100.0 98.9
Low Carbon Share pool (per GBP1 invested)*
Net Asset Value per 1.0695 Low Carbon Ordinary
Shares 90.0 90.1 90.1 89.7
Cumulative dividends per 1.0695 Low Carbon Ordinary
Shares 16.0 16.0 13.3 13.3
Total return per 1.0695 Low Carbon Ordinary Shares 106.0 106.1 103.4 103.0
*Low Carbon Ordinary Shares were originally issued at 93.5p per share.
The above figures have been expressed in terms of an original investment
of GBP1 which equates to a holding of 1.0695 shares.
Dividends paid or declared in the period
On 28 July 2014 the Company proposed to pay an interim dividend in
respect of the year to 30 November 2014 of 2.5p per General Ordinary
Share, 2.5p per Structured Ordinary Share and 2.5p per Low Carbon
Ordinary Share, the dividends will be payable on 21 November 2014 to
shareholders on the register at 17 October 2014.
Investment portfolio summary at 31 August 2014
Valuation
movement
from 1 Jun 2014
General Share pool Cost Valuation to 31 Aug 2014
GBP'000 GBP'000 GBP'000
Venture Capital Investments
Vulcan Renewables Limited 1,664 1,664 -
Kidspace Adventures Holdings Limited 1,116 1,334 -
Mosaic Spa and Health Clubs Limited 1,500 1,259 -
Hoole Hall Hotel Limited 1,200 1,200 -
Tooting Tram and Social Limited 1,067 1,187 -
Residential PV Limited 600 762 -
Snow Hill Developments Limited 750 750 -
Westcountry Solar Solutions Limited 600 600 -
South-Western Farms Solar Limited 600 555 -
Odysian (Holdings) Limited 527 543 -
Avon Solar Energy Limited 505 505 -
Wickham Solar Limited 472 472 -
Fubar Stirling Limited 429 429 -
Oak Grove Renewables Limited 400 400 -
Kidspace Adventures Limited 384 384 -
City Falkirk Limited 674 330 -
Angel Solar Limited 300 300 -
Dominions House Limited 178 178 -
Antelope Pub Limited 150 150 -
Clean Electricity Limited 70 70 -
UK Renewable Power Limited 55 55 -
Cheers Dumbarton Limited 76 26 -
21(st) Century Energy Limited 22 22 -
Lochrise Limited 20 - -
Total 13,359 13,175 -
Valuation
movement
from 1 Jun 2014
Structured Share pool Cost Valuation to 31 Aug 2014
GBP'000 GBP'000 GBP'000
Structured Products
HSBC 7.1% Defensive Worst-Of-Auto-Call 401 425 2
RBS 6 yr Dual Index Synthetic Zero
10.16% 251 365 1
Goldman Sachs 8.5% Defensive
Worst-Of-Auto-Call 251 277 4
BNP Paribas Harewood ABS Progression 2 253 269 2
Credit Suisse 7% Defensive
Worst-Of-Auto-Call 251 269 2
Total 1,407 1,605 11
Venture Capital Investments
Vulcan Renewables Limited 982 982 -
Kidspace Adventures Holdings Limited 744 889 -
Mosaic Spa and Health Clubs Limited 920 759 -
Tooting Tram and Social Limited 533 613 -
Oak Grove Renewables Limited 545 545 -
Residential PV Trading Limited 400 508 -
Wickham Solar Limited 472 472 -
Westcountry Solar Solutions Limited 400 400 -
South-Western Farms Solar Limited 400 370 -
Odysian (Holdings) Limited 351 362 -
Avon Solar Energy Limited 336 336 -
Fubar Stirling Limited 286 286 -
Kidspace Adventures Limited 256 256 -
City Falkirk Limited 450 220 -
Angel Solar Limited 200 200 -
Antelope Pub Limited 150 150 -
Cheers Dumbarton Limited 51 18 -
Lochrise Limited 13 - -
Total 7,489 7,366 -
Total 8,896 8,971 11
Valuation
movement
from 1 Jun 2014
Low Carbon Share pool Cost Valuation to 31 Aug 2014
GBP'000 GBP'000 GBP'000
Venture Capital Investments
Progressive Energies Limited 1,400 1,460 -
Green Electricity Generation Limited 1,000 1,210 -
PV Generation Limited 1,000 1,150 -
Progressive Power Generation Limited 800 800 -
UK Renewable Power Limited 780 780 -
Clean Electricity Limited 780 780 -
21(st) Century Energy Limited 600 708 -
Total 6,360 6,888 -
Investment activity during the three month period ended 31 August 2014
There were no additions made by the General Share pool the Structured
Share pool or Low Carbon Share pool during the three month period ended
31 August 2014.
Valuation Gain Realised
at Disposal against gain in
Cost 1 Dec 2013 proceeds cost the period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Structured Share pool
portfolio disposals
UBS 7.3% Defensive
Worst Of Auto Call 251 260 268 17 8
Total 251 260 268 17 8
There were no disposals made by the General Share pool or Low Carbon
Share pool during the three month period ended 31 August 2014.
Investment activity in the period from 1 September 2014 to the date of
this announcement
No portfolio additions have been made by the General Share pool,
Structured Share pool or Low Carbon Share pool in the period from 1
September 2014 to the date of this announcement.
Valuation Gain Realised
at Disposal against gain in
Cost 1 Dec 2013 proceeds cost the period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
General Share pool
portfolio disposals
Dominions House
Limited 80 80 80 - -
Total 80 80 80 - -
No portfolio disposals have taken place in the Structured Share pool or
Low Carbon Share pool during the period from 1 September 2014 to the
date of this announcement.
Share capital
Share capital and movements in the period are summarised as follows:
General General Structured Structured Low Carbon
Ordinary 'A' Ordinary 'A' Ordinary
Shares Shares Shares Shares Shares
No. of No. of No. of No. of No. of
shares shares shares shares shares
At 1 June 2014 15,679,241 18,453,789 10,703,725 12,597,594 8,102,222
Shares bought back
in period - - - - -
At 31 August 2014 15,679,241 18,453,789 10,703,725 12,597,594 8,102,222
On 8 September 2014 the Structured Share pool bought back 24,777 shares
at a price of 0.065p per share total consideration of GBP1,611. There
were no other changes to the share capital from 1 September 2014 to the
date of this announcement.
Material events
Other than described above, there were no material events during the
period from 1 June 2014 to 31 August 2014 or in the period from 1
September 2014 to the date of this announcement.
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Downing Planned Exit VCT 2011 plc via Globenewswire
HUG#1860990
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