FORESIGHT SOLAR & INFRASTRUCTURE VCT PLC ORD 1P Foresight Solar & Infrastructure Vct Plc : Interim Management Statement
June 07 2016 - 11:00AM
UK Regulatory
TIDMFTSV
Foresight Solar and Infrastructure VCT plc
Interim Management Statement for the Quarter Ended 31 March 2016
Foresight Solar VCT plc presents its interim management statement for
the quarter ended 31 March 2016. This constitutes the company's third
interim management statement for the financial year ending 30 June 2016,
as required by the UK Listing Authority's Disclosure and Transparency
Rule 4.3.
The unaudited net asset value (NAV) per ordinary share as at 31 March
2016 was 103.2p (31 December 2015: 105.9p).
During the three month period ended 31 March 2016 the underlying
performance of the Ordinary Shares fund remained robust and generated a
positive return per Ordinary Share of 3.1p (2.9%). However, given that
the Ordinary Shares fund has or will during the course of 2016 pass the
minimum five year holding period for all investors, the Board has
elected to recognise an accrual for the performance fee incentive of
approximately 5.8p per Ordinary Share at this time and this has been
deducted to arrive at the NAV of 103.2p per Ordinary Share as at 31
March 2016. The accrual will be amended quarterly to reflect movements
in the underlying total return of the Ordinary Share class prior to
Shareholders being offered the opportunity to realise their investment
at which point the final performance incentive fee will be determined.
The unaudited net asset value (NAV) per C share as at 31 March 2016 was
83.1p (31 December 2015: 82.0p).
In line with original expectations, an interim dividend of 3.0p per
Ordinary Share and 2.5p per C Share was paid to shareholders on 8 April
2016.
At 31 March 2016 there were 38,290,862 Ordinary shares in issue. There
were no share movements during the three months ended 31 March 2016 on
the ordinary shares fund.
At 31 March 2016 there were 12,509,245 C shares in issue. There were no
share movements during the three months ended 31 March 2016 on the C
shares fund.
The net assets at 31 March 2016 comprised the following:
% of
Net
Ordinary Shares Fund GBP'000 Assets
Unquoted Investments at fair value as determined by
the Directors 41,443 105%
Quoted investments at bid price 0 0%
Total venture capital investments 41,443 105%
Cash & liquid investments 35 0%
Other net current assets (1,945) (5)%
Net Assets 39,533 100.0
% of Net
C Shares Fund GBP'000 Assets
Unquoted Investments at fair value as determined by
the Directors 10,088 97%
Quoted investments at bid price 0 0%
Total venture capital investments 0 97%
Cash & liquid investments 58 0.6%
Other net current assets 248 2.4%
Net Assets 10,394 100.0
For further information please contact:
Gary Fraser, Foresight Group: 020 3667 8100
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: Foresight Solar & Infrastructure VCT plc via Globenewswire
HUG#2018757
http://www.foresightgroup.eu/
(END) Dow Jones Newswires
June 07, 2016 12:00 ET (16:00 GMT)
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