RNS Number : 0075J
TP70 VCT Plc
10 July 2013
TP70 VCT plc
9 July 2013
Interim Management Statement for the quarter ended 31 May 2013
TP70 VCT plc ("the Company") submits its Interim Management Statement for the period ended 31 May 2013. This constitutes the Company's first Interim Management Statement for the financial year ending 28 February 2014, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
Net assets at 31 May 2013 comprised:
31 May 2013
28 February 2013
31 August 2012
Unaudited
Audited
Unaudited
£'000
% investments
£'000
% investments
£'000
% investments
VCT qualifying unquoted investments
675
92.6%
762
94.1%
4,827
74.4%
Non VCT qualifying investments:
Unquoted investments
10
1.4%
10
1.2%
431
6.6%
685
94.0%
772
95.3%
5,258
81.0%
Money Market Funds
-
-
-
-
500
7.7%
Cash and cash equivalents
44
6.0%
38
4.7%
734
11.3%
Total Investments
729
100.0%
810
100.0%
6,492
100.0%
Other assets & liabilities
(69)
(126)
(260)
Net assets
660
684
6,232
Net asset value per share
2.06p
2.13p
19.48p
Net Asset Value
The Company made a loss of £24,000 for the period equivalent to 0.07p per share reflecting an excess of expenditure over income which resulted in the reduction the net asset value ("NAV") per share for the quarter.
Remaining Investments
Investment realisations continued during the quarter, as detailed below:
Electricity Generation
Industry Sector
Cinema Digitisation
Solar PV
Anaerobic Digestion
Total Unquoted Investments
£'000
£'000
£'000
£'000
Investments at 29 February 2013
58
39
675
772
Investments realised during the period
(58)
(29)
-
(87)
Investments at 31 May 2013
-
10
675
685
Material Events and Transactions
During the period no shares were issued and no shares were purchased by the Company for cancellation. The Board anticipates bringing forward proposals for liquidation of the Company in the near future.
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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