DA2O Downing Abs.2

 
TIDMDA2O 
 
Downing Absolute Income VCT 2 plc 
Interim Management Statement 
for the period ended 30 June 2011 
 
In  accordance with Rule 4.3 of the Disclosure  and Transparency Rules of the UK 
Listing  Authority,  Downing  Absolute  Income  VCT  2 plc  presents  an Interim 
Management Statement covering the period from 1 April 2011 to 30 June 2011.  The 
statement  also includes relevant  financial information between  the end of the 
period and the date of this statement. 
 
Performance 
                                          30 June 2011 31 March 2011 31 Dec 2010 
 
                                                 Pence         Pence       Pence 
 
Unaudited Net Asset Value per Ordinary            90.4          91.2        93.1 
Share 
 
Unaudited Net Asset Value per 'A' Share            0.1           0.1         0.1 
 
Dividends paid                                     5.0           5.0         2.5 
 
Total return per Ordinary Share and 'A'           95.5          96.3        95.7 
Share 
 
Dividends paid or declared in the period 
There were no dividends paid in the 3 months to 30 June 2011. On 23 June, the 
Board proposed a final dividend in respect of the period ended 31 March 2011 of 
2.5p per Ordinary Share.  Subject to Shareholder approval, this will be paid  on 
30 September 2011. 
 
Investment portfolio summary at 30 June 2011 
                                                         Valuation gain/ (loss) 
                                                           between 1 April 2011 
                                          Cost Valuation       and 30 June 2011 
 
                                          GBP'000      GBP'000                   GBP'000 
 
EPI Services Limited                     1,500     1,500                      - 
 
Tramps Nightclub Limited                 1,422     1,422                      - 
 
Lullingstone Limited                     1,295     1,295                      - 
 
Helcim Group Limited                     1,143     1,143                      - 
 
Antelope Pub Company Limited             1,087     1,087                      - 
 
Edison House Limited                       891       891                      - 
 
Camandale Limited                        1,136       852                  (284) 
 
Quadrate Catering Limited                  835       835                      - 
 
Quadrate Spa Limited                       740       740                      - 
 
Woolmer Properties Limited                 587       587                      - 
 
The 3D Pub Co Limited                      517       517                      - 
 
Retallack Surfpods Limited                 500       500                      - 
 
Future Biogas (Reepham Road) Limited       499       499                      - 
 
Redmed Limited                             450       450                      - 
 
Rostima Limited                            450       450                      - 
 
Looe Road Student Accommodation            403       403                      - 
 
Gingerbread Pre-School (UK) Limited        400       400 
 
Domestic Solar Limited                     400       400                      - 
 
Slopingtactic Limited                      380       380                      - 
 
Accumuli plc*                              250       356                     29 
 
Fenkle Street LLP                          346       346                      - 
 
Alpha Schools Holdings Limited             333       333                      - 
 
Chapel Street Food and Beverage Limited    250       250                      - 
 
Chapel Street Services Limited             250       250                      - 
 
Mosaic Spa and Health Clubs Limited        250       250                      - 
 
Tracsis plc*                               200       207                      7 
 
Ridgeway Pub Company Limited               137       137                      - 
 
Commercial Street Hotel Limited             35        35                      - 
 
Chapel Street Hotel Limited                 10        10                      - 
 
Total                                   16,696    16,525                  (248) 
 
*Quoted on AIM 
 
Investment additions during the three month period ended 30 June 2011 
 
 New Investments                         GBP'000 
 
 Future Biogas (Reepham Road) Limited     499 
 
 Redmed Limited                           450 
 
 Gingerbread Pre-School (UK) Limited      400 
 
 Alpha Schools Holdings Limited           333 
 
 Tracsis plc                              200 
 
 Follow on investments 
 
 Domestic Solar Limited                   200 
 
 Helcim Group Limited                     143 
 
 Lullingstone Limited                      72 
 
 Edison House Limited                      71 
 
 Woolmer Properties Limited                65 
 
 Total                                  2,433 
 
 
The  following investments  have been  made between  1 July 2011 and the date of 
this announcement. 
 
                                GBP'000 
 
 Follow on investments 
 
 Helcim Group Limited            317 
 
 Kidspace Adventures Limited     200 
 
 Rostima Limited                 200 
 
 Edison House Limited             47 
 
                                 764 
 
 
Investment disposals during the three month period ended 30 June 2011 
 
                                                    GBP'000 
 
                              Original cost and proceeds 
 
 Woolmer Properties Limited                          624 
 
 Edison House Limited                                446 
 
                                                   1,070 
 
 
There were no investment disposals made in the period from 1 July 2011 and the 
date of this announcement. 
 
Changes to share capital 
 
                       Ordinary Shares         'A' Shares 
                         of 0.1p each         of 0.1p each 
 
                          Shares    GBP'000       Shares    GBP'000 
 
 As at 1 April 2011   20,000,000      20   30,000,000      30 
 
 As at 30 June 2011   20,000,000      20   30,000,000      30 
 
 
In the period from 1 July 2011 and the date of this announcement, 18,755 
Ordinary Shares and 18,755 A Shares have been bought back for a total 
consideration of  GBP15,024.  These shares were subsequently cancelled. 
 
No shares were issued in the period from 1 July 2011 to the date of this 
announcement. 
 
Material events 
Other than described above, there were no material events during three months to 
30 June 2011 or in the period from 1 July 2011 to the date of this announcement. 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Downing Absolute Income VCT 2 Plc via Thomson Reuters ONE 
 
[HUG#1539827] 
 

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