Downing Income VCT plc Downing Income Vct Plc : Interim Management Statement
15 Julio 2013 - 8:24AM
UK Regulatory
TIDMDIVO
Downing Income VCT plc
Interim Management Statement
for the three months ended 31 May 2013
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of
the UK Listing Authority Downing Income VCT plc presents an Interim
Management Statement for the three month period ended 31 May 2013. The
statement also includes some financial information covering the period
from 1 June 2013 to the date of this statement.
Performance
30 Jun 31 May 28 Feb 30 Nov 31 Aug
2013 2013 2013 2012 2012
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited)
Pence Pence Pence Pence Pence
Net Asset
Value 31.8 32.8 33.6 35.5 34.0
Cumulative
Dividends 28.0 28.0 28.0 26.0 26.0
Total
return 59.8 60.8 61.6 61.5 60.0
Unaudited investment portfolio summary at 31 May 2013
Valuation
movement
since
28 February
Cost Valuation 2013 *
GBP'000 GBP'000
Ten largest investments by value
Locale Enterprises Limited Unquoted 540 622 -
Vianet Group plc 835 603 (33)
Anpario plc 252 535 77
Craneware plc 173 520 (27)
Baron House Developments LLP Unquoted 462 462 -
Plastics Capital plc 500 435 35
Vulcan Renewables Limited Unquoted 400 400 -
Cohort plc 364 353 (27)
Angle plc 219 339 (14)
Vertu Motors plc 500 333 4
Subtotal 4,245 4,602 15
Other venture capital investments 9,382 4,306 (216)
Total 13,627 8,908 (201)
All investments are quoted on AIM unless otherwise stated.
*After accounting for additions and disposals in the period.
Investment additions during the three month period ended 31 May 2013
Cost
GBP'000
Inland Homes plc 260
Ludorum plc 18
Norman Broadbent plc 4
Mosaic Spa and Health Club Limited 63
345
Since the period end the Company has invested GBP125,000 into Curo
Compensation Limited.
Investment disposals during the three month period ended 31 May 2013
Market Total
value at Disposal realised Loss
Cost 1 Sept 2012 * proceeds loss in period against cost
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Baron House
Developments
LLP 138 138 138 - -
Tristel plc 309 194 122 (72) (187)
447 332 260 (72) (187)
*After accounting for purchases in the period
Since the period end the Company has received GBP148,000 in respect of a
tender offer for shares held in Hasgrove plc.
Share Realisation and Reinvestment Programme and 10% Top Up Offer
In March 2013, the Company completed a Share Realisation and
Reinvestment Programme ("SRRP"), whereby it acquired a total of
8,255,759 shares at a price of 33.5p per share. Participating
Shareholders reinvested the proceeds and were allotted 8,007,995 at a
price of approximately 34.5p per share.
In addition, the Company undertook a "10% top up" offer under which
236,864 shares were allotted at a price of approximately 34.5p per
share.
Changes to share capital
Ordinary shares of
10p each
Shares GBP'000
As at 1 March 2013 28,385,141 2,839
Shares issued under SRRP 8,007,995 801
Shares issued under top up 236,864 24
Shares bought back and cancelled under SRRP (8,255,759) (826)
Shares bought back and cancelled (430,000) (43)
As at 31 May 2013 27,944,241 2,795
There have been no changes to share capital between 1 June 2013 and the
date of this report.
Material events
Other than described above, there were no material events during the
period from 1 March 2013 to 31 May 2013 or in the period from 1 June
2013 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 Income VCT plc via Thomson Reuters ONE
HUG#1716443
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