Interim Management Statement (6679A)
03 Februar 2011 - 5:51PM
UK Regulatory
TIDMTPV2
RNS Number : 6679A
TP70 2008 (ii) VCT PLC
03 February 2011
TP70 2008 (II) VCT plc
3 February 2011
Interim Management Statement for the quarter ended 31 December
2010
TP70 2008 (II) VCT plc has pleasure in submitting its Interim
Management Statement for the nine months ended 31 December 2010.
This constitutes the Company's second Interim Management Statement
for the financial year ending 31 March 2011, as required by the UK
Listing Authority's Disclosure and Transparency Rule 4.3.
Net assets at 31 December 2010 comprised:
31 December 30 September
2010 2010 31 March 2010
Unaudited Unaudited Audited
GBP'000 % GBP'000 % GBP'000 %
VCT qualifying
fixed asset investments
at fair value 13,742 71.9 12,342 65.2 10,342 52.2
VCT non qualifying
fixed asset investments
at fair value 196 1.0 196 1.0 196 1.0
Non
qualifying
investments:
- GAM
Diversity
2.5XL 4,245 22.2 4,105 21.7 4,714 23.8
- Money market deposits
678 3.6 2,228 11.8 3,360 17.0
Net current assets
(including cash
and cash equivalents) 249 1.3 65 0.3 1,197 6.0
19,110 100.0 18,936 100.0 19,809 100.0
-------- ------ -------- ------ -------- ------
Net asset value 83.46p 82.69p 86.51p
per share
Investment Activity
The board is pleased to report that in the last quarter the
Company made GBP1.4 million of follow on VCT qualifying investments
into two companies involved in cinema digitisation, which means
they are fully funded to meet their contractual commitments in the
UK. VCT qualifying investments now account for some 64.1% of
investments at original cost so that the Company is on course to
meet the test of being 70% so invested by 31 March 2011.
The Company holds 50% of the issued share capital of Lorngreen
Limited, which in turn holds an investment in GAM Diversity 2.5XL.
The Company also has an exposure to GAM Diversity 2.5XL held
through a note executed with Julius Baer. This means that
approximately 55% of the Company's NAV is exposed to the
performance of GAM Diversity. During the quarter to 31 December
2010, the value of the investment increased by 3.4% from the level
recorded in the half yearly report to 30 September 2010.
Material Events and Transactions
During the period no shares were issued and no shares were
purchased by the Company for cancellation.
Further Information
For further information, please contact Claire Ainsworth or
Chris Tottle 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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