TRIPLE POINT INCOME VCT PLC

Management Reports • Feb 11, 2016

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RNS Number : 8175O

Triple Point Income VCT PLC

11 February 2016

Triple Point Income VCT plc

11 February 2016

Interim Management Statement for the quarter ended 31 December 2015

Highlights

The Company

The Company continues to meet the requirement that 70% of the portfolio must be invested in VCT qualifying investments. At 31 December 2015 qualifying holdings accounted for 75% of the overall investment portfolio.

Ordinary Share Class

·      Net Asset Value ("NAV") has decreased from 83.40p to 67.08p per share during the last quarter. This was a result of the dividend payment on 18 December 2015 of 16.45p per share, the majority of which was funded by the proceeds of solar realisations.

·      At 31 December 2015 the total paid by way of dividends to shareholders was 25.56p per share, bringing the total return to 92.64p per share. This compares to a weighted average subscription share price of 83.6p per share.

·      The unquoted qualifying investment portfolio by sector at 31 December 2015 is made up of:

Hydro Electric Power                              34%

Cinema Digitisation                                30%

Energy Generation and Infrastructure       20%

Solar PV                                               16%

A Share Class

·      NAV has decreased from 41.22p to 41.15p per share during the last quarter.

·      At 31 December 2015 the total paid by way of dividends to shareholders was 56.20p per share, bringing the total return to 97.35p. This compares to a weighted average subscription share price of 86.4p per share.

·      Following the disposal of the share class's investments in the solar PV and Anaerobic Digestion sectors, 100% of the remaining unquoted qualifying investment portfolio is in two companies generating electricity through Landfill Gas. Further investment opportunities are being sought to enhance returns.

C Share Class

·      NAV has increased from 101.16p to 101.92p per share during the last quarter. This compares to a subscription price of £1.

·      100% of the VCT qualifying investments are in the Hydro Electric Power sector.

D Share Class

·      The D share class offer closed on 30 April 2015 raising £14.3 million with 13,701,636 shares being issued. The funds have been deployed into companies in the hydro electric power sector.

·      NAV has increased from 99.85p to 100.57p per share during the last quarter. This compares to a subscription price of £1.

·      During the quarter the D Share Class realised an investment for £2.7 million that was made in March 2015 into a company that intended to trade in the hydro electric power sector, but the deal did not come to fruition. Alternative investments are being sought.

·      100% of the VCT qualifying investments are in the Hydro Electric Power sector.

Net Assets at 31 December 2015:

	31-Dec-15						30-Sep-15
	Unaudited						Unaudited
	Ord. Shares	A Shares	C Shares	D Shares	Total		Ord. Shares	A Shares	C Shares	D Shares	Total
	£'000	£'000	£'000	£'000	£'000		£'000	£'000	£'000	£'000	£'000
VCT qualifying unquoted investments	10,929	789	9,430	10,138	31,286		12,529	789	9,430	12,847	35,595
VCT non qualifying unquoted investments	1,136	0	4,205	907	6,248		1,236	0	4,055	868	6,159
	12,065	789	13,635	11,045	37,534	13,765	789	13,485	13,715	41,754
Cash and cash equivalents	776	1,034	91	2,448	4,349		2,328	1,047	157	(226)	3,306
Total Investments	12,841	1,823	13,726	13,493	41,883		16,093	1,836	13,642	13,489	45,060
Other assets & liabilities	223	288	(27)	287	771		149	279	(45)	192	575
Net assets	13,064	2,111	13,699	13,780	42,654		16,242	2,115	13,597	13,681	45,635
Net asset value per share	67.08	41.15	101.92	100.57	n/a		83.40	41.22	101.16	99.85	n/a

For further information, please contact Claire Ainsworth 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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