Interim Management Statement
May 09 2008 - 6:54AM
UK Regulatory
Interim Management Statement
Downing Protected VCT I plc
Interim Management Statement for the three months ended 31 March 2008
�
In accordance with Rule 4.3 of the Disclosure and Transparency Rules
of the UK Listing Authority, Downing Protected VCT I plc presents an
Interim Management Statement for the three month period ended 31
March 2008. The statement also includes relevant financial
information between the end of the period and the date of this
statement.
�
�
Dividends paid or declared in the period
On 28 February 2008, the Company declared an interim dividend of 1.5p
per Ordinary share which was paid on 25 April 2008 to shareholders on
the register at 28 March 2008.�
�
A further dividend was declared on 9 May 2008 of 1.25p per share
which will be paid on 11 June to Shareholders on the register at 23
May 2008.
�
Performance 31 March 31 Dec 30 June 31 Dec
� 2008 �2007 �2007 �2006
� Pence Pence Pence Pence
Net Asset Value ("NAV") 113.30 110.20 111.70 108.18
Cumulative Dividends 48.15 48.15 44.65 43.15
Total Return * 161.45 158.35 156.35 151.33
* NAV plus cumulative dividends paid since launch
�
Investment portfolio summary at 31 � �
March 2008
� Movement
� �Cost Valuation in period
� �'000 � �'000 � �'000
Venture capital investments (by value) � � � � �
Gatewales Limited 1,000 � 1,100 � �100
Bowman Care Homes Limited 1,000 � 1,000 � �-
Heyford Homes VCT Limited 1,000 � 1,000 � �-
Kings Gap Limited 1,000 � 1,000 � �-
Downing (Pirbright Road) Limited 700 � �900 � �-
Kimbolton Lodge Limited �604 � �900 � �-
Downing Office Villages Contractor � �
Limited �850 �850 �-
Honeycombe Pubs VCT Limited �475 � �475 � �-
Congress House Limited �375 � �375 � �-
Heyford Homes (Thornton Hall) Limited �372 � �372 � �-
Bond Contracting Limited �200 � �200 � �-
Sanguine Hospitality Limited �6 � �6 � �-
Dovestone (The Gables) Limited �50 � �- � �-
� � � � � �
Total 7,632 � 8,178 � 100
�
�
Investment additions during the 3 months ended 31 March 2008 �
� Cost
� �'000
Kings Gap Limited 1,000
Bond Contracting Limited 200
Congress House Limited 25
� �
� 1,225
�
�
Investment disposals during the 3 months ended 31 March �
2008
� � Market value � � �
� at 1�January � Gain/(loss) Total
� �2008 Disposal against realised
Cost proceeds cost gain/(loss)
� �'000 �'000 �'000 �'000 �'000
� � � � � �
Downing
(Meadows)
Limited 580 1,005 1,075 495 70
�
�
Changes to share capital � � �
� Shares Nominal Value Price paid
Ordinary Shares of 50p each �'000 �'000
As at 31 December 2007 8,312,683 4,156 �
Shares bought back and cancelled (113,000) (56) 112
As at 31 March 2008 8,199,683 4,100 �
�
Additionally, on 11 April 2008 the Company purchased 69,133 ordinary
shares for cancellation representing 0.83% of the issued share
capital at a price of 98.0p per share.
�
�
Material events
Other than described above, there were no material events during the
period from 31 December 2007 to 31 March 2008 or in the period from 1
April 2008 to the date of this announcement.
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