Interim Management Statement

Triple Point Venture VCT

14/01/2011 16:43

RNS Number : 5298Z

TP70 VCT Plc

14 January 2011

 



TP70 VCT plc

 

13 January 2011

 

Interim Management Statement for the quarter ended 30 November 2010

 

TP70 VCT plc has pleasure in submitting its Interim Management Statement for the period ended 30 November 2010. This constitutes the Company's second Interim Management Statement for the financial year ending 28 February 2011, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.

 

Net assets at 30 November 2010 comprised:

 

30 November 2010
31 August 2010
28 February 2010
Unaudited
Unaudited
Audited
£'000
%
£'000
%
£'000
%
VCT qualifying fixed asset investments at fair value
19,275
81.9
19,275
82.7
19,275
80.7
Non VCT qualifying investments: GAM Diversity
3,514
14.9
3,325
14.3
3,920
16.4
Net current assets (including cash and cash equivalents)
745
3.2
710
3.0
699
2.9
23,534
100.0
23,310
100.0
23,894
100.0
Net asset value per share
73.49p
72.79p
74.62p
Investment Activity
The Company's GAM Diversity exposure is held through a note executed with Julius Baer, which with leverage, means that approximately 40% of the Company's NAV is exposed to the performance of GAM Diversity Inc. During the quarter to 30 November 2010, the value of the exposure increased from the low point recorded in the half yearly report to 31 August, 2010.
The Company continues to satisfy the test of being 70% invested in qualifying holdings and as at 30 November 2010 VCT qualifying holdings represented 81.9% of net assets by value.
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.


 

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