TRIPLE POINT INCOME VCT PLC

Quarterly Report • Feb 6, 2014

National Storage Mechanism | Additional information

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RNS Number : 4684Z

Triple Point Income VCT PLC

06 February 2014

Triple Point Income VCT plc                        

6 February 2014

Interim Management Statement for the quarter ended 31 December 2013

Triple Point Income VCT plc ("the Company") has pleasure in submitting its Interim Management Statement for the quarter ended 31 December 2013. This constitutes the Company's second Interim Management Statement for the year ending 31 March 2014, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.

Net assets comprised:

	31 December 2013			30 September 2013				31 March 2013
	Unaudited			Unaudited				Audited
	Ord. Shares	A Shares	Total	Ord. Shares	A Shares	B Shares	Total	Ord. Shares	A Shares	B Shares	Total
	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000
VCT qualifying unquoted investments	15,360	3,598	18,958	15,255	3,598	-	18,853	29,068	3,560	-	32,628
Non VCT qualifying unquoted investments	250	221	471	-	221	-	221	-	525	-	525
	15,610	3,819	19,429	15,255	3,819	-	19,074	29,068	4,085	-	33,153
Cash and cash equivalents	662	416	1,078	22,241	371	6,780	29,392	4,969	286	3,285	8,540
Total investments	16,272	4,235	20,507	37,496	4,190	6,780	48,466	34,037	4,371	3,285	41,693
Other assets & liabilities	(15)	(74)	(89)	60	(33)	(33)	(6)	3,156	(150)	1	3,007
Net assets	16,257	4,161	20,418	37,556	4,157	6,747	48.460	37,193	4,221	3,286	44,700
Net asset value per share	82.17p	81.09p	n/a	82.18p	81.00p	92.89p	n/a	81.06p	82.26p	92.72p	n/a

Ordinary Share Class Results and Material Transactions

The Company offered to buy back those Ordinary shares which, on 30th September 2013, had been held by shareholders for more than five years at a price of 80.8955p per share based on the Net Asset Value ("NAV") on 31 July 2013. A total of 34,195,496 shares were purchased by the Company in two tranches on 18 October 2013 and 29 November 2013.

On 31 October 2013 7,263,471 B shares were converted into Ordinary shares at a conversion rate of 1.140169, creating a further 8,281,584 Ordinary shares.

The net effect of the performance for the quarter and the transactions described above was a small loss causing the NAV per Ordinary share to decline from 82.18p to 82.17p.

It was resolved to pay a dividend on 10 January 2014 of £812,978 or 4.109p per share to Ordinary share class holders on the register at 20 December 2013. 

A Share Class Results

The profit per share for the A shares for the quarter was 0.09p per share.

Investment Activity

The Company's unquoted investment portfolio comprises the following:

			Electricity Generation
Industry Sector	Cinema Digitisation	Crematorium Management	Solar PV	Anaerobic Digestion	Landfill Gas	Hydro Electric Power	SME Lending	Total Unquoted Investments
	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000
Investments at 31 March 2013
Ordinary shares	19,167	1,320	4,031	3,550	0	1,000	-	29,068
A Ordinary shares	-	-	2,085	1,125	875	-	-	4,085
	19,167	1,320	6,116	4,675	875	1,000	-	33,153
Investments made during the period
Ordinary shares	-	-	1,005	-	-	1,200	250	2,455
A Ordinary shares	-	-	-	-	-	-	-	-
	-	-	1,005	-	-	1,200	250	2,455
Investments realised during the period
Ordinary shares	(16,042)	(100)	-	-	-	-	-	(16,142)
A Ordinary shares	-	-	-	(304)	-	-	-	(304)
	(16,042)	(100)	-	(304)	-	-	-	(16,446)
Investments Revalued during the period
Ordinary shares	152	(32)	109	-	-	-	-	229
A Ordinary shares	-	-	38	-	-	-	-	38
	152	(32)	147	-	-	-	-	267
Investments at 31 December 2013
Ordinary shares	3,277	1,188	5,145	3,550	-	2,200	250	15,610
A Ordinary shares	-	-	2,123	821	875	-	-	3,819
	3,277	1,188	7,268	4,371	875	2,200	250	19,429
Total investments %	16.87%	6.11%	37.41%	22.50%	4.50%	11.32%	1.29%	100.00%

Investment Activity

During the period the Ordinary share class made further investments in three companies. These were Elementary Energy Ltd, a company which is constructing a hydro electric power station; PJC Renewable Ltd, a company approved to commence trade in solar power; and New Wave Ltd, a company that provides short term finance to small businesses.

Further Information

For further information, please contact Claire Ainsworth or Chris Tottle at Triple Point Investment Management LLP on 0207 201 8989 or contact@triplepoint.co.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

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