TRIPLE POINT INCOME VCT PLC

Net Asset Value • Feb 14, 2019

National Storage Mechanism | Additional information

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RNS Number : 0776Q

Triple Point Income VCT PLC

14 February 2019

LEI: 213800IXD8S5WY88L245

Triple Point Income VCT plc

14 February 2019

Interim Management Statement for the quarter ended 31 December 2018

Highlights

The Company

The Company continues to meet all VCT qualifying conditions in respect of its portfolio of VCT unquoted qualifying investments and unquoted and quoted non-qualifying investments.

Ordinary Share Class

·      The Net Asset Value ("NAV") at 31 December 2018 was 1.00p per share.

·      On 1 October 2018 the Ordinary Share Class realised its investment in Green Energy for Education Limited.

·      On 14 December 2018 a final dividend was paid to the Ordinary Class Shareholders of 4.07p per share bringing total dividends paid to Ordinary Class Shareholders to 97.87p per share. This compares to a weighted average subscription share price of 83.6p per share.

·      The intention remains to cancel the Ordinary Shares and pay the remaining 1.00p by the end of the Company's financial year ending 31 March 2019.

C Share Class

·      The NAV at 31 December 2018 has increased by 0.57p to 112.40p per share as a result of profit generated during the period.

·      At 31 December 2018 the total paid by way of dividends to shareholders was 15.00p per share, bringing the total return to 127.40p per share.

·      100% of the C Share Class investments are in the hydro-electric power sector, in line with the investment strategy.

·      The C Share Class investment portfolio by sector at 31 December 2018:

Hydro Electric Power - 80%

SME Funding - Hydro Electric Power - 20%

D Share Class

·      The NAV at 31 December 2018 has increased by 0.88p to 105.7p per share as a result of profit generated during the period.

·      97% of the D Share investments are in the Hydro Electric Power sector, in line with the investment strategy.

·      The D Share Class investment portfolio by sector at 31 December 2018:

Hydro Electric Power - 88%

SME Funding - Hydro Electric Power - 9%

SME Funding - Other - 3%

E Share Class

·      The NAV at 31 December 2018 has decreased by 1.09p to 98.25p per share during the period. This is due to a fall in the market price of the shares held in a quoted investment. The share price fell from 105p at 30 September 2018 to 99.6p. Following the period end, the share price has recovered to 104p.

·      During the period the E Share Class acquired a qualifying Investment in a rooftop solar PV company.

·      Based on the current valuations of the portfolio, the E Share Class is 84% deployed in a portfolio of qualifying and non-qualifying investments.  

·      The E Share Class investment portfolio by sector at 31 December 2018:

Crematorium Management - 3%

Vertical Growing - 21%

Quoted Investments - 27%

Hydro Electric Power - 12%

SME Funding - Hydro Electric Power - 3%

SME Funding - Other - 9%

Electricity Generation - 25%

Net Assets at 31 December 2018:

	31-Dec-18
	Unaudited
	Ord. Shares	C Shares	D Shares	E Shares	Total
	£'000	£'000	£'000	£'000	£'000
VCT qualifying unquoted investments	-	11,176	11,532	14,367	37,075
VCT non-qualifying unquoted investments	-	3,349	1,791	3,892	9,032
VCT non-qualifying quoted investments	-	-	-	5,791	5,791
	0	14,525	13,323	24,050	51,898
Cash and cash equivalents	248	661	310	4,733	5,952
Total Investments	248	15,186	13,633	28,783	57,850
Other assets & liabilities	(53)	(78)	850	(338)	381
Net assets	195	15,108	14,483	28,445	58,231
Net asset value per share (p)	1.00	112.40	105.70	98.25	n/a

	31-Mar-18
	Audited
	Ord. Shares	C Shares	D Shares	E Shares	Total
	£'000	£'000	£'000	£'000	£'000
VCT qualifying unquoted investments	9,367	11,176	11,532	5,000	37,075
VCT non-qualifying unquoted investments	1,731	3,414	2,191	1,849	9,185
VCT non-qualifying quoted investments	-	-	-	5,884	5,884
	11,098	14,590	13,723	12,733	52,144
Cash and cash equivalents	1,868	551	253	15,776	18,448
Total Investments	12,966	15,141	13,976	28,509	70,592
Other assets & liabilities	(178)	25	818	(46)	619
Net assets	12,788	15,166	14,794	28,463	71,211
Net asset value per share (p)	65.74	112.84	107.98	98	n/a

For further information, please contact Ben Beaton or Belinda Thomas at Triple Point Investment Management LLP on 0207 201 8989.

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