TRIPLE POINT INCOME VCT PLC

Earnings Release • Jul 31, 2014

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RNS Number : 9359N

Triple Point Income VCT PLC

31 July 2014

TP5 VCT plc

31 July 2014

Interim Management Statement for the quarter ended 30 June 2014

TP5 VCT plc ("the Company") has pleasure in submitting its Interim Management Statement for the quarter ended 30 June 2014. This constitutes the Company's first Interim Management Statement for the year ending 31 March 2015, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.

Net assets at 30 June 2014 comprised:

	30 June 2014				31 March 2014				30 September 2013
	Unaudited				Audited				Unaudited
	Ordinary Shares	B Shares	Total		Ordinary Shares	B Shares	Total		Ordinary Shares	B Shares	Total
	£'000	£'000	£'000		£'000	£'000	£'000		£'000	£'000	£'000
VCT qualifying unquoted investments	15,339	1,896	17,235		15,340	1,895	17,235		15,037	1,858	16,895
VCT non qualifying unquoted investments	-	-	-		3	1	4		3	1	4
	15,339	1,896	17,235		15,343	1,896	17,239		15,040	1,859	16,899
VCT non qualifying investment in GAM Diversity 2.5XL	-	-	-		-	-	-		-	1,068	1,068
Cash and cash equivalents	270	1,210	1,480		101	646	747		49	85	134
Total investments	15,609	3,106	18,715		15,444	2,542	17,986		15,089	3,012	18,101
Other assets & liabilities	(112)	(8)	(120)		36	565	601		84	15	99
Net assets	15,497	3,098	18,595		15,480	3,107	18,587		15,173	3,027	18,200
Net asset value per share	82.59p	89.82p	n/a		82.50p	90.07p	n/a		80.86p	87.79p	n/a

Results

The Ordinary Share Class made a profit for the quarter of £17,000 equivalent to 0.9p per share which increased the net asset value ('NAV') per share by that amount.

The B Share Class made a loss for the quarter of £9,000 equivalent to (0.25p) per share which reduced the net asset value ('NAV') per share by that amount.

Dividends

At the date of this report the total paid by way of dividends to Ordinary Class Shareholders is 9.51p per share. There have been no dividends paid to date to the B Class Shareholders.

On 10 July 2014 the Board of TP5 VCT resolved to pay dividends of 31.27p per share to Ordinary Class Shareholders and 53.90p per share to B Class Shareholders. The dividends will be paid on 1 August 2014 to Shareholders on the register at 18 July 2014. The dividends will be funded from the cash generated from the realisation of investments on 1 July 2014 as detailed below.

Investment Portfolio

The investment portfolio can be analysed as follows:

		Electricity Generation
Industry Sector	Cinema Digitisation	Solar PV	Anaerobic Digestion	Total Unquoted Investments
	£'000	£'000	£'000	£'000
Investments at 31 March 2014	6,691	7,469	3,079	17,239
Investments re-valued during the period	-	-	(1)	(1)
Investments disposed of during the period	-	-	(3)	(3)
Investments at  30 June 2014	6,691	7,469	3,075	17,235
Unquoted Investments %	38.82%	43.34%	17.84%	100.00%

On 1 July 2014 after the quarter end £6.5m of loans in Cinema Digitisation companies were redeemed as part of the exit strategy to return funds to investors as soon as possible after the five year holding period. The Company continues to hold equity in these companies.

The Company expects to realise its portfolio of investments over the coming months in order to return funds to shareholders in line with the Investment Policy.

Material Events and Transactions

There were no material events or transactions during the period.

Further Information

For further information, please contact Claire Ainsworth or Belinda Thomas 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

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