REG - Triple Point Inc VCT - Interim Management Statement <Origin Href="QuoteRef">TPV1.L</Origin>

Triple Point Income VCTAnnouncement

07/09/2014 24:26

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RNS Number : 9577N
Triple Point Income VCT PLC
31 July 2014 
 
Triple Point Income VCT plc 
 
31 July 2014 
 
Interim Management Statement for the quarter ended 30 June 2014 
 
Triple Point Income VCT plc ("the Company") has pleasure in submitting its
Interim Management Statement for the quarter ended 30 June 2014. This
constitutes the Company's first Interim Management Statement for the year
ending 31 March 2015, as required by the UK Listing Authority's Disclosure and
Transparency Rule 4.3. 
 
Net assets comprised: 
 
                                          30 June 2014Unaudited  31 March 2014Audited  30 September 2013Unaudited  
                                          Ord.Shares             AShares               C Shares                    Total   Ord.Shares  A Shares  C Shares  Total   Ord.Shares  A Shares  Total   
                                          £'000                  £'000                 £'000                       £'000   £'000       £'000     £'000     £'000   £'000       £'000     £'000   
 VCT qualifying unquoted investments      14,378                 3,647                 120                         18,145  14,331      3,647     -         17,978  15,255      3,598     18,853  
 VCT non qualifying unquoted investments  1,088                  -                     -                           1,088   1,138       221       -         1,359   -           221       221     
                                          15,466                 3,647                 120                         19,233  15,469      3,868     -         19,337  15,255      3,819     19,074  
 Cash and cash equivalents                334                    602                   13,167                      14,103  147         377       6,902     7,426   29,021      371       29,392  
 Total investments                        15,800                 4,249                 13,287                      33,336  15,616      4,245     6,902     26,763  44,276      4,190     48,466  
 Other assets & liabilities               (124)                  (27)                  (35)                        (186)   (29)        (30)      (29)      (88)    27          (33)      (6)     
 Net assets                               15,676                 4,222                 13,252                      33,150  15,587      4,215     6,873     26,675  44,303      4,157     48,460  
 Net asset value per share                79.48p                 82.27p                98.59p                      n/a     79.03p      82.15p    98.38p    n/a     82.15p      81.00p    n/a     
 
 
Results 
 
The Ordinary Share Class made a profit for the quarter of £111,000 equivalent
to 0.45p per share which increased the net asset value ('NAV') per share by
that amount. 
 
The A Share Class made a profit for the quarter of £9,000 equivalent to 0.12p
per share which increased the net asset value ('NAV') per share by that
amount. 
 
The C Share Class made a loss for the quarter of £70,000 equivalent to a loss
of 0.45p per share. The loss is the proportion of the Company's overheads
attributable to the C Share Class with no investment income yet to offset
these overheads. During the period the C Share Class offer closed and a
further 6,454,916 shares were issued bringing the total C Class Shares in
issue to 13,441,438. 
 
Dividends 
 
At the date of this report the total paid by way of dividend to Ordinary Class
shareholders is 4.11p per share. 
 
At the date of this report the total paid by way of dividend to A Class
shareholders is 11.2p per share including a dividend of 6.2p per share which
was paid on 25 July 2014. 
 
Investment Portfolio 
 
The Company's unquoted investment portfolio comprises the following: 
 
                                                                                       Electricity Generation                       
 Industry Sector                          Cinema Digitisation  Crematorium Management  Solar PV                Anaerobic Digestion  Landfill Gas  Hydro Electric Power  Total Unquoted Investments  
                                          £'000                £'000                   £'000                   £'000                £'000         £'000                 £'000                       
 Investments at 31 March 2014                                                                                                                                                                       
 Ordinary shares                          3,277                1,138                   5,251                   3,550                -             2,253                 15,469                      
 A Ordinary shares                        -                    -                       2,157                   821                  890           -                     3,868                       
 C Ordinary shares                        -                    -                       -                       -                    -             -                     -                           
                                          3,277                1,138                   7,408                   4,371                890           2,253                 19,337                      
 Investments made during the period                                                                                                                                                                 
 Ordinary shares                          -                    -                       -                       -                    -             47                    47                          
 A Ordinary shares                        -                    -                       -                       -                    -             -                     -                           
 C Ordinary shares                        -                    -                       -                       -                    -             120                   120                         
                                          -                    -                       -                       -                    -             167                   167                         
 Investments realised during the period                                                                                                                                                             
 Ordinary shares                          -                    (50)                    -                       -                    -             -                     (50)                        
 A Ordinary shares                        -                    -                       -                       (220)                -             -                     (220)                       
 C Ordinary shares                        -                    -                       -                       -                    -             -                     -                           
                                          -                    (50)                    -                       (220)                -             -                     (270)                       
 Investments re-valued during the period                                                                                                                                                            
 Ordinary shares                          -                    -                       -                       -                    -             -                     -                           
 A Ordinary shares                        -                    -                       -                       (1)                  -             -                     (1)                         
 C Ordinary shares                        -                    -                       -                       -                    -             -                     -                           
                                          -                    -                       -                       (1)                  -             -                     (1)                         
 Investments at 30 June 2014                                                                                                                                                                        
 Ordinary shares                          3,277                1,088                   5,251                   3,550                -             2,300                 15,466                      
 A Ordinary shares                        -                    -                       2,157                   600                  890           -                     3,647                       
 C Ordinary shares                        -                    -                       -                       -                    -             120                   120                         
 Total                                    3,277                1,088                   7,408                   4,150                890           2,420                 19,233                      
 Total investments %                      17.04%               5.66%                   38.51%                  21.58%               4.63%         12.58%                100.00%                     
 
 
During the period £120,000 was advanced by the C share class to four companies
to develop Hydro Electric Power plants. Since the quarter end one of the
companies has commenced construction and has drawn down further investment of
£3.1 million. 
 
Material Events and Transactions 
 
During the period 6,454,916 C shares were issued. There were no other material
events or transactions during the period. 
 
Further Information 
 
For further information, please contact Claire Ainsworth or Belinda Thomas at
Triple Point Investment Management LLP on 0207 201 8989 or
contact@triplepoint.co.uk. 
 
This information is provided by RNS
The company news service from the London Stock Exchange