TIDMTP7V

RNS Number : 4053V

TP70 2010 VCT PLC

11 January 2013

Replacement

The headline for the "TP70 2010 VCT plc" announcement released on 11 January 2013 at 15.48 under RNS No 4018V should read "Interim Management Statement" and not "3(rd) Quarter Results" as previously stated.

The announcement text is unchanged and is reproduced in full below.

TP70 2010 VCT plc

11 January 2013

TP70 2010 VCT plc has pleasure in submitting its Interim Management Statement for the period ended 30 November 2012. This constitutes the Company's second Interim Management Statement for the year ended 28 February 2013, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.

Net assets at 30 November 2012 comprised:

 
                          30 November 2012          31 August 2012            29 February 2012 
                          Unaudited                 Unaudited                 Audited 
                          GBP'000   % investments   GBP'000   % investments   GBP'000   % investments 
                         --------  --------------  --------  --------------  --------  -------------- 
 VCT qualifying 
  unquoted investments    5,665     76.4            5,665     75.6            3,800     50.3 
  Non VCT qualifying 
   investments: 
 GAM Trading 
  1.25XL                  707       9.6             719       9.6             1,265     16.8 
 Derivative               989       13.3            1,036     13.8            1,032     13.7 
 Money Market 
  funds                   -         -               -         -               900       11.9 
 Cash and cash 
  equivalents             55        0.7             78        1.0             554       7.3 
                         --------  --------------  --------  --------------  --------  -------------- 
 Total Investments        7,416     100.0           7,498     100.0           7,551     100.0 
                         --------  --------------  --------  --------------  --------  -------------- 
 Other assets 
  & liabilities           (10)                      (13)                      (19) 
                         --------                  --------                  -------- 
 Net assets               7,406                     7,485                     7,532 
                         --------                  --------                  -------- 
 Net asset value 
  per share               84.68p                    85.58p                    86.12p

The reduction in net asset value per share for the quarter reflects a GBP20,000 excess of running expenses over loan interest income and a GBP59,000 loss on the Company's GAM exposure.

Investment Activity

The Company has 76% of its investments invested in VCT qualifying investments. The Company has satisfied the requirement of being 70% invested in qualifying investments a year ahead of its target date.

The qualifying investment portfolio can be categorised as follows:

 
                                                 Electricity Generation 
                                                 Solar    Anaerobic    Landfill   Total Qualifying 
 Industry Sector           Cinema Digitisation    PV       Digestion    Gas        Investments 
------------------------  --------------------  -------  -----------  ---------  ----------------- 
 Qualifying Investments 
  GBP'000                  1,000                 3,300    725          640        5,665 
------------------------  --------------------  -------  -----------  ---------  ----------------- 
 Qualifying Investments 
  %                        17.65%                58.25%   12.80%       11.30%     100.00% 
------------------------  --------------------  -------  -----------  ---------  -----------------

The Company has an overall exposure of 23% to GAM Trading comprising both a derivative and direct exposure to GAM Trading 1.25XL. With leverage this exposure equates to 45% of the Company's net asset value.

Material Events and Transactions

During the period no shares were issued and no shares were purchased by the Company for cancellation.

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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