Triple Point Inc VCT - Interim Management Statement

Triple Point Income VCT

11/02/2016 14:05

RNS Number : 8175O

Triple Point Income VCT PLC

11 February 2016

Triple Point Income VCT plc

11February 2016

Interim Management Statement for the quarter ended 31 December 2015

Highlights

The Company

The Company continues to meet the requirement that 70% of the portfolio must be invested in VCT qualifying investments. At 31 December 2015 qualifying holdings accounted for 75% of the overall investment portfolio.

Ordinary Share Class

 Net Asset Value ("NAV") has decreased from 83.40p to 67.08p per share during the last quarter. This was a result of the dividend payment on 18 December 2015 of 16.45p per share, the majority of which was funded by the proceeds of solar realisations.

 At 31 December 2015 the total paid by way of dividends to shareholders was 25.56p per share, bringing the total return to 92.64p per share. This compares to a weighted average subscription share price of 83.6p per share.

 The unquoted qualifying investment portfolio by sector at 31 December 2015 is made up of:

Hydro Electric Power 34%

Cinema Digitisation 30%

Energy Generation and Infrastructure 20%

Solar PV 16%

A Share Class

 NAV has decreased from 41.22p to 41.15p per share during the last quarter.

 At 31 December 2015 the total paid by way of dividends to shareholders was 56.20p per share, bringing the total return to 97.35p. This compares to a weighted average subscription share price of 86.4p per share.

 Following the disposal of the share class's investments in the solar PV and Anaerobic Digestion sectors, 100% of the remaining unquoted qualifying investment portfolio is in two companies generating electricity through Landfill Gas. Further investment opportunities are being sought to enhance returns.

C Share Class

 NAV has increased from 101.16p to 101.92p per share during the last quarter. This compares to a subscription price of 1.

 100% of the VCT qualifying investments are in the Hydro Electric Power sector.

D Share Class

 The D share class offer closed on 30 April 2015 raising 14.3 million with 13,701,636 shares being issued. The funds have been deployed into companies in the hydro electric power sector.

 NAV has increased from 99.85p to 100.57p per share during the last quarter. This compares to a subscription price of 1.

 During the quarter the D Share Class realised an investment for 2.7 million that was made in March 2015 into a company that intended to trade in the hydro electric power sector, but the deal did not come to fruition. Alternative investments are being sought.

 100% of the VCT qualifying investments are in the Hydro Electric Power sector.

Net Assets at 31 December 2015:

31-Dec-15
30-Sep-15
Unaudited
Unaudited
Ord. Shares
A Shares
C Shares
D Shares
Total
Ord. Shares
A Shares
C Shares
D Shares
Total
'000
'000
'000
'000
'000
'000
'000
'000
'000
'000
VCT qualifying unquoted investments
10,929
789
9,430
10,138
31,286
12,529
789
9,430
12,847
35,595
VCT non qualifying unquoted investments
1,136
0
4,205
907
6,248
1,236
0
4,055
868
6,159
12,065
789
13,635
11,045
37,534
13,765
789
13,485
13,715
41,754
Cash and cash equivalents
776
1,034
91
2,448
4,349
2,328
1,047
157
(226)
3,306
Total Investments
12,841
1,823
13,726
13,493
41,883
16,093
1,836
13,642
13,489
45,060
Other assets & liabilities
223
288
(27)
287
771
149
279
(45)
192
575
Net assets
13,064
2,111
13,699
13,780
42,654
16,242
2,115
13,597
13,681
45,635
Net asset value per share
67.08
41.15
101.92
100.57
n/a
83.40
41.22
101.16
99.85
n/a

For further information, please contact Claire Ainsworth 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

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