QUR Quester Vct

 
TIDMKAY 
 
 
   Kings Arms Yard VCT PLC Interim Management Statement 
 
   Introduction 
 
   I am pleased to present Kings Arms Yard VCT PLC's interim management 
statement for the period from 1 July 2015 to 10 November 2015. 
 
   Performance and dividends 
 
   The Company's unaudited net asset value (NAV) as at 30 September 2015 
was GBP45.09 million or 20.21 pence per share (excluding treasury 
shares), an increase of 0.31 pence per share (1.6 per cent.) since 30 
June 2015. This is mainly as a result of an increase in investment 
valuations. 
 
   After accounting for the dividend paid of 0.50 pence per share on 30 
October 2015, to shareholders on the register as at 2 October 2015, the 
NAV is 19.71 pence per share. 
 
   Share issues 
 
   During the period from 1 July 2015 to 30 September 2015, the Company 
issued the following Ordinary shares under the Albion VCTs Prospectus 
Top Up Offers 2014/2015: 
 
 
 
 
                                         Issue price per 
                     Number of shares    share (including      Net proceeds 
Date                      issued         costs of issue)         GBP'000 
30 September 2015            2,731,390         20.60 pence                 546 
 
 
 
   The Albion VCT Prospectus Top Up Offers 2014/2015 closed on 30 September 
2015 having raised GBP5.1 million in total for the Company. 
 
   Further Top Up Offers are planned for later this year and details are 
expected to be sent to shareholders in November 2015. 
 
   The proceeds of the Offers are being used to provide further resources 
to the Company at a time when a number of attractive new investment 
opportunities are being seen. 
 
   In addition, the following shares were issued under the dividend 
reinvestment scheme on 30 October 2015: 
 
 
 
 
                   Number of shares     Issue price per       Net proceeds 
Date                    issued               share               GBP'000 
30 October 2015              468,940          19.40 pence                   89 
 
   Share buy-backs 
 
   During the period from 1 July 2015 to 10November 2015, the Company 
purchased 2,159,000 shares for GBP391,000 at an average price of 18.12 
pence per share. All of the shares are to be held in treasury. 
 
   It remains the Board's policy to buy back shares in the market, subject 
to the overall constraint that such purchases are in the Company's 
interest, including the maintenance of sufficient resources for 
investment in existing and new portfolio companies and the continued 
payment of dividends to shareholders. 
 
   It is the Board's intention for such buy-backs to be at around a 5 per 
cent. discount to net asset value, so far as market conditions and 
liquidity permit. 
 
   Portfolio 
 
   The following investments have been made during the period from 1 July 
2015 to 10 November 2015: 
 
 
 
 
New investments                GBP000's  Activity 
                                         Develop and operate a care home in 
Shinfield Lodge Care Limited     295     Shinfield, Berkshire 
                                         Provider of cyber security threat 
Panaseer Limited                  50     analysis 
Total new investments               345 
 
 
 
 
Further 
investments   GBP000's  Activity 
Active Lives 
Care                    Develop and operate a 72 bed care home in Cumnor Hill, 
Limited         250      Oxfordshire 
Haemostatix             Develops haemostatic therapies for applications during 
Limited         235      surgery 
Antenova 
Limited         148     Supplier of integrate antennas and RF solutions 
Ryefield 
Court Care              Develop and operate a 60 bed care home in Hillingdon, 
Limited         145      Middlesex 
MyMeds&Me 
Limited         118     Software for managing pharmaceutical adverse events 
Relayware 
Limited          92     Business collaboration and communication solutions 
Sandcroft 
Avenue                  Online gym directory and seller of Gym passes trading 
Limited          36      as Payasugym.com 
Anthropics 
Technology              Provides intelligent portrait touch-up software to 
Limited          25      professional and amateur photographers 
Xention 
Pharma                  Develops novel therapies for the treatment of heart 
Limited          24      diagnoses 
Ario Pharma 
Limited          24     Drug discovery for bladder and cough suppression 
Total 
 further 
 investments     1,097 
 
   Disposals 
 
   During the period from 1 July 2015 to 10 November 2015, the Company sold 
Lab M Holdings Limited for proceeds of GBP2,067,000 realising a gain on 
cost of GBP1,209,000. 
 
   Top ten holdings as at 30 September 2015: 
 
 
 
 
                             % of 
                              net 
             Carrying value  asset 
Investment      GBP000's     value                         Activity 
Elateral 
 Holdings 
 Limited              5,261   11.7                  Provider of digital marketing software 
Chonais 
 River 
 Hydro 
 Limited              2,990    6.6                          Hydropower project in Scotland 
Sift             2,607        5.8   Web based provision of online business and community 
 Limited                             management solutions 
Oxford           2,546        5.6   A global, commercial-stage diagnostic company in the 
 Immunotec                           field of immunology 
 Global 
 PLC 
Active           2,437        5.4   Develop and operate a 72 bed care home in Cumnor Hill, 
 Lives Care                          Oxfordshire 
 Limited 
Alto             1,483        3.3   Owns and operates community scale wind energy projects 
 Prodotto                            on brownfield sites in the UK 
 Wind 
 Limited 
The Street       1,480        3.3   Builds, owns and operates photovoltaic systems on 
 by Street                           domestic properties in the UK 
 Solar 
 Programme 
 Limited 
Ryefield         1,319        2.9   Develop and operate a 60 bed care home in Hillingdon, 
 Court Care                          Middlesex 
 Limited 
MyMeds&Me        1,311        2.9   Software for managing pharmaceutical adverse events 
 Limited 
Regenerco        1,279        2.8   Operator of photovoltaic panels on small commercial 
 Renewable                           buildings 
 Energy 
 Limited 
 
 
   A full breakdown of the Company's portfolio can be found on the Fund's 
web page under current portfolio at 
www.albion-ventures.co.uk/ourfunds/KAY.htm, by following the 'Portfolio 
of Investment' link under the 'Investor Centre' section. 
 
   Material events and transactions 
 
   There have been no further significant events or transactions that the 
Board is aware of which would have a material impact on the financial 
position of the Company between 1 July 2015 and 10 November 2015. 
 
   Further information 
 
   The Company continues to offer a dividend reinvestment scheme to 
existing shareholders.  Details of this Scheme can be found at 
www.albion-ventures.co.uk/ourfunds/KAY.htm. 
 
   Further information regarding historic and current financial performance 
and other useful shareholder information can be found on the Fund's web 
page under www.albion-ventures.co.uk/ourfunds/KAY.htm. 
 
   Robin Field, Chairman 
 
   10 November 2015 
 
   For further information please contact: 
 
   Patrick Reeve, Albion Ventures LLP - Tel: 020 7601 1850 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Kings Arms Yard VCT PLC via Globenewswire 
 
   HUG#1965945 
 
 
  http://www.sparkventures.com 
 

(END) Dow Jones Newswires

November 10, 2015 12:04 ET (17:04 GMT)

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