Pembroke VCT PLC Quarterly Report (2219Q)
September 08 2017 - 3:43AM
UK Regulatory
TIDMPEMV TIDMPEMB
RNS Number : 2219Q
Pembroke VCT PLC
08 September 2017
8 September 2017
PEMBROKE VCT PLC
Quarterly Report
for the period from 1 April to 30 June 2017
Pembroke VCT plc (the "Company") presents its quarterly report
for the period from 1 April to 30 June 2017.
-- GBP0.7 million invested in the quarter to 30 June 2017
-- Total investments of GBP28.8 million to date, including
GBP1.5m in investments which have been exited
-- Interim dividend of 1p per Ordinary Share and 1p per B Ordinary Share paid on 7 June 2017
This quarterly report contains information that covers the
period up to the date of its publication.
Performance
The unaudited net asset value of the Company at 30 June 2017 was
GBP46.0 million, up from GBP36.4 million (audited) at 31 March
2017, reflecting additional subscriptions to the Company in the
period less the payment of the interim dividend and other movements
in the reserves of the Company. The net asset value was GBP20.5
million in respect of the Ordinary Share class and GBP25.5 million
in respect of the B Ordinary Share class, and equates to an
unaudited net asset value per share of 113.31 pence for the
Ordinary Share class and 103.30 pence for the B Ordinary Share
class.
In total, an additional GBP0.7 million was invested in the
quarter in follow-on investments. All investments were made by the
B Ordinary Share class.
Investments are held at fair value. During the quarter to 30
June 2017, the value of Zenos cars was increased from GBPnil to
GBP45,000 to reflect amounts recovered from administration. There
were no other changes made to the assessment of fair values of
investments in the portfolio.
Investments made in the period
In the quarter ended 30 June 2017, the Company invested a total
of GBP0.7 million in follow-on investments in 2 portfolio companies
to support their continued growth: GBP0.3 million was invested in
the form of equity to Alexa Chung and GBP0.4 million was in the
form of a loan to Sourced Market.
Investments made post-period end
Between the end of the period and the date of this announcement,
GBP1.1 million has been invested in 2 follow-on investments within
the portfolio and 1 new investment. The follow on investments were
GBP0.2 million in the form of equity to Plenish and GBP0.2 million
in the form of a convertible loan to Boom Cycle. The new investment
was an GBP0.7 million equity investment in Carousel Ventures
Limited, the holding company for Heist Studios, an innovative maker
of premium hosiery.
B Ordinary Share Offer
The Company's B Ordinary Share Offer closed on 30 June 2017
having raised a total of GBP13.9m.
About the Company
Pembroke VCT plc (the "Company") is a generalist VCT focused on
early stage investments in the leisure and luxury brands sectors.
The Company invests in a diversified portfolio of small,
principally unquoted companies, and selects those which Oakley
Investment Managers LLP believes provide the opportunity for value
appreciation.
The Company is not aware of any significant event or transaction
which has occurred between 1 April 2017 and 7 September 2017 which
has had a material effect on the financial position of the Company
and has not been detailed above.
For further information, please contact:
Pembroke VCT plc
+44 20 7766 6900
Peter Dubens
Cornerstone Communications
+44 7917 080 365
Richard Acworth
Oakley Investment Managers LLP (Manager)
+44 20 7766 6900
Andrew Wolfson/Simon Male
The City Partnership (UK) Limited (Company Secretary)
+44 131 510 7465
Doreen Nic
This information is provided by RNS
The company news service from the London Stock Exchange
END
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