TP70 2010 VCT PLC Interim Management Statement (5098I)
July 03 2013 - 5:02AM
UK Regulatory
TIDMTP7V
RNS Number : 5098I
TP70 2010 VCT PLC
03 July 2013
TP70 2010 VCT plc
3 July 2013
TP70 2010 VCT plc has pleasure in submitting its Interim
Management Statement for the period ended 31 May 2013. This
constitutes the Company's first Interim Management Statement for
the year ended 28 February 2014, as required by the UK Listing
Authority's Disclosure and Transparency Rule 4.3.
Net assets at 31 May 2013 comprised:
31 May 2013 29 February 2013 31 August 2012
Unaudited Audited Unaudited
GBP'000 % investments GBP'000 % investments GBP'000 % investments
-------- -------------- -------- -------------- -------- --------------
VCT qualifying
unquoted investments 5,757 74.8% 5,757 75.2% 5,665 75.6%
Non VCT qualifying
investments:
GAM Trading
1.25XL 748 9.7% 743 9.7% 719 9.6%
Derivative 1,186 15.4% 1,104 14.4% 1,036 13.8%
7,691 99.9% 7,604 99.3% 7,420 99.0%
Cash and cash
equivalents 10 0.1% 52 0.7% 78 1.0%
-------- -------------- -------- -------------- -------- --------------
Total Investments 7,701 100.0% 7,656 100.0% 7,498 100.0%
-------- -------------- -------- -------------- -------- --------------
Other assets
& liabilities (35) (55) (13)
-------- -------- --------
Net assets 7,666 7,601 7,485
-------- -------- --------
Net asset value
per share 87.65p 86.91p 85.58p
The increase in net asset value per share ("NAV") for the
quarter of GBP65,000 or 0.74p per share is a result of an GBP87,000
gain on the Company's exposure to GAM Diversity, less GBP22,000
excess of running expenses over loan interest income.
The qualifying investment portfolio can be categorised as
follows:
Electricity Generation
Solar Anaerobic Landfill Total Qualifying
Industry Sector Cinema Digitisation PV Digestion Gas Investments
---------------------------- -------------------- -----------------
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
---------------------------- -------------------- -------- ----------- --------- -----------------
Investments at 29 February
2013 1,000 3,392 725 640 5,757
---------------------------- -------------------- -------- ----------- --------- -----------------
Investments at 31 May
2013 1,000 3,392 725 640 5,757
---------------------------- -------------------- -------- ----------- --------- -----------------
Qualifying Investments
% 17.37% 58.92% 12.59% 11.12% 100.00%
---------------------------- -------------------- -------- ----------- --------- -----------------
The Company has an overall exposure of 25% to GAM Trading
comprising both a derivative and direct exposure to GAM Trading
1.25XL. With leverage this exposure equates to 51% 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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