TP70 2010 VCT PLC Interim Management Statement (6721B)
08 Januar 2015 - 1:16PM
UK Regulatory
TIDMTP7V
RNS Number : 6721B
TP70 2010 VCT PLC
08 January 2015
TP70 2010 VCT plc
8 January 2015
Interim Management Statement for the quarter ended 30 November
2014
Highlights
-- Net Asset Value increased from 86.69p per share to 87.74p per share during the period.
-- 77% of the Company's portfolio is in qualifying investments.
-- The Performance of GAM Trading resulted in an uplift to Net
Asset Value of 1.3p per share during the period.
-- The table below shows the unquoted qualifying investment portfolio by sector:
Electricity Generation
Solar Anaerobic Landfill Total Qualifying
Industry Sector Cinema Digitisation PV Digestion Gas Investments
------------------------ -------------------- -----------------
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
------------------------ -------------------- -------- ----------- --------- -----------------
At 30 November 2014 1,079 3,508 725 650 5,962
------------------------ -------------------- -------- ----------- --------- -----------------
Qualifying Investments
% 18.10% 58.84% 12.16% 10.90% 100.00%
------------------------ -------------------- -------- ----------- --------- -----------------
-- By June 2015 shareholders will have held their shares for the
five years required to secure up-front Tax relief. Both the Board
and Investment Manager are planning to return funds to shareholders
as soon as practical after this date by realising the unquoted
investments.
-- Notice has been given to redeem the company's investment in
GAM Trading 1.25XL on 31 December 2014. The remaining exposure to
GAM Trading is held through a derivative with Exane Bank which the
Company will seek to redeem by 31 March 2015.
Net Assets at 30 November 2014
30 November 2014 31 August 2014 28 February 2014
Unaudited Unaudited Audited
GBP'000 % investments GBP'000 % investments GBP'000 % investments
----------------------- -------- -------------- -------- -------------- -------- --------------
VCT qualifying
unquoted investments 5,962 77.0 5,962 78.2 5,962 78.3
----------------------- -------- -------------- -------- -------------- -------- --------------
VCT non qualifying
investments:
GAM Trading
1.25XL 644 8.3 617 8.1 605 8.0
Derivative 1,117 14.4 1,034 13.6 988 13.0
----------------------- -------- -------------- -------- -------------- -------- --------------
Cash and cash
equivalents 18 0.3 16 0.2 55 0.7
----------------------- -------- -------------- -------- -------------- -------- --------------
Total Investments 7,741 100.0 7,629 100.0 7,610 100.0
----------------------- -------- -------------- -------- -------------- -------- --------------
Other assets
& liabilities (67) (47) (47)
----------------------- -------- -------------- -------- -------------- -------- --------------
Net assets 7,674 7,582 7,563
----------------------- -------- -------------- -------- -------------- -------- --------------
Net asset value
per share 87.74p 86.69p 86.47p
----------------------- -------- -------------- -------- -------------- -------- --------------
For further information, please contact Claire Ainsworth 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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