Portfolio Update
22 Enero 2001 - 9:31AM
UK Regulatory
RNS Number:6220X
British Smaller Tech Cos VCT PLC
22 January 2001
BRITISH SMALLER TECHNOLOGY COMPANIES VCT plc
Quarterly Investment Portfolio Update
as at January 9, 2001
#5.96m invested in 19 companies
British Smaller Technology Companies VCT plc ("the Technology VCT"), the #13m
venture capital trust specialising in funding fast-growing innovative
businesses across a range of sectors - such as software, electronics,
telecommunications, engineering and life sciences - has maintained its
investment rate.
The Technology VCT has made 23 investments totalling #5.96 million in 19
companies and is on course to meet its target for qualifying investments
(details attached).
The Managing Director of the Company's investment advisers, Yorkshire Fund
Managers Ltd, Phil Cammerman, said: "We should be fully invested by the end of
the second quarter of the year, which is bang on target.
"All our investments are in core technologies and have been vetted by
Scientific Generics Ltd, our Cambridge-based technology advisers. We have
invested in core technologies and there are no dot coms in our portfolio."
Mr Cammerman added that the portfolio had achieved an unrealised annualised
compound rate of return of 29% on its venture capital portfolio since April 1
1999, and three of the investments were already showing significantly
increased valuations.
To meet the increased demand from potential investee companies, which is
currently running at about 1,500 inquiries a year, Yorkshire Fund Managers is
raising up to #30m for a second technology VCT, the British Smaller Technology
Companies VCT2.
Prospectuses may be obtained by calling 0800 854057.
For further information, please contact:
Phil Cammerman Yorkshire Fund Managers Ltd Tel: 0113 294 5050
David Hardy/Simon Ellis Binns & Co. PR Ltd Tel: 020 7786 9600
Simon Mountford Simon Mountford Communications Tel: 01347 844844
NOTES TO EDITORS
The current make-up of the portfolio is shown below:
Date of Name of Location Industry Investment Value of
investment Company Sector At Cost Investment
Aug 1999)
July 2000) Power X Ltd Stockport Electronics #400,000 #746,642
Nov 1999 Primal Pictures London Healthcare #750,000 #750,000
Ltd
Nov 1999) Voxar Ltd Edinburgh Healthcare #700,000 #847,388
Sept 2000)
Dec 1999 Optos Plc Fife, Healthcare #161,750 #161,750
Dunfermline
Feb 2000) Sigtronics Ltd East Electronics #270,000 #667,000
Lothian
Nov 2000)
March 2000 Sarian Systems Ilkley, Telecoms #200,000 #200,000
Ltd
West Yorks
March 2000 Digital Cambridge Healthcare #250,000 #250,000
Healthcare Ltd
March 2000 Millware Ltd Tewkesbury Software #225,000 #225,000
Jan 2001
March 2000 Focus Solutions Warwick Software #74,100 #72,770
Group Plc*
May 2000 Optical Micro Swindon Electronics #250,050 #250,050
Devices Ltd
May 2000 Comvurgent Ltd Nottingham Software #250,000 #250,000
July 2000 Amino Cambridge Electronics #311,993 #311,993
Communications
Ltd
Aug 2000 Solcom Ltd Ryde Software #375,000 #375,000
Aug 2000 Tissuemed Ltd Leeds Healthcare #300,000 #300,000
Nov 2000 Elam-T Ltd London Electronics #290,000 #290,000
Nov 2000 Jetmask Ltd Cambridge Electronics #250,000 #250,000
Dec 2000 Immunobiology Ltd Cambridge Healthcare #150,000 #150,000
Dec 2000 Imerge Ltd ** Cambridge Broadband #500,000 #500,000
Communication
Jan 2001 Vibration Stirling Oil exploration #250,000 #250,000
Technology
TOTAL #5,957,893 #6,847,593
* Focus Solutions Group Plc is quoted on AIM
** In escrow
The Technology VCT will be issuing regular quarterly updates to the above
table.
British Smaller Technology Companies VCT plc
British Smaller Technology Companies VCT raised more than #12.5m in May 1999
to invest in a portfolio of growth-oriented UK-based technology companies
across a range of industrial sectors, including information technology,
engineering and life sciences. A further #1.11m was raised from an issue of
1,058,800 new shares in March 2000. Although the majority of funds will be
invested in high-growth established companies, up to 20 per cent of funds will
be invested in companies in the early-stage or start-up phase. Information
on the Technology VCT can be found on www.yorkshire-enterprise.co.uk.
Yorkshire Fund Managers Limited
Yorkshire Fund Managers Limited is the fund management arm of the Yorkshire
Enterprise Group and is regulated by IMRO. YFM is a specialist venture
capital fund management company and, as investment adviser to both British
Smaller Companies VCT and British Smaller Technology Companies VCT, is
experienced in managing VCTs.
The Generics Group AG
Generics, which is based in Cambridge, is an integrated technology consulting,
development and investment group, with an international reputation for
successfully exploiting emerging science and technology for commercial
markets. It provides additional specialist technology advice to Yorkshire
Fund Managers, including support and assistance in monitoring investments.
Information on Generics can be found on www.generics.co.uk.
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