TRIPLE POINT INCOME VCT PLC

Quarterly Report • Jul 31, 2014

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RNS Number : 9577N

Triple Point Income VCT PLC

31 July 2014

Triple Point Income VCT plc

31 July 2014

Interim Management Statement for the quarter ended 30 June 2014

Triple Point Income 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 comprised:

	30 June 2014 Unaudited				31 March 2014 Audited				30 September 2013 Unaudited
	Ord. Shares	A Shares	C Shares	Total	Ord. Shares	A Shares	C Shares	Total	Ord. Shares	A Shares	Total
	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000	£'000
VCT qualifying unquoted investments	14,378	3,647	120	18,145	14,331	3,647	-	17,978	15,255	3,598	18,853
VCT non qualifying unquoted investments	1,088	-	-	1,088	1,138	221	-	1,359	-	221	221
	15,466	3,647	120	19,233	15,469	3,868	-	19,337	15,255	3,819	19,074
Cash and cash equivalents	334	602	13,167	14,103	147	377	6,902	7,426	29,021	371	29,392
Total investments	15,800	4,249	13,287	33,336	15,616	4,245	6,902	26,763	44,276	4,190	48,466
Other assets & liabilities	(124)	(27)	(35)	(186)	(29)	(30)	(29)	(88)	27	(33)	(6)
Net assets	15,676	4,222	13,252	33,150	15,587	4,215	6,873	26,675	44,303	4,157	48,460
Net asset value per share	79.48p	82.27p	98.59p	n/a	79.03p	82.15p	98.38p	n/a	82.15p	81.00p	n/a

Results

The Ordinary Share Class made a profit for the quarter of £111,000 equivalent to 0.45p per share which increased the net asset value ('NAV') per share by that amount.

The A Share Class made a profit for the quarter of £9,000 equivalent to 0.12p per share which increased the net asset value ('NAV') per share by that amount.

The C Share Class made a loss for the quarter of £70,000 equivalent to a loss of 0.45p per share. The loss is the proportion of the Company's overheads attributable to the C Share Class with no investment income yet to offset these overheads. During the period the C Share Class offer closed and a further 6,454,916 shares were issued bringing the total C Class Shares in issue to 13,441,438.

Dividends

At the date of this report the total paid by way of dividend to Ordinary Class shareholders is 4.11p per share.

At the date of this report the total paid by way of dividend to A Class shareholders is 11.2p per share including a dividend of 6.2p per share which was paid on 25 July 2014.

Investment Portfolio

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	Total Unquoted Investments
	£'000	£'000	£'000	£'000	£'000	£'000	£'000
Investments at 31 March 2014
Ordinary shares	3,277	1,138	5,251	3,550	-	2,253	15,469
A Ordinary shares	-	-	2,157	821	890	-	3,868
C Ordinary shares	-	-	-	-	-	-	-
	3,277	1,138	7,408	4,371	890	2,253	19,337
Investments made during the period
Ordinary shares	-	-	-	-	-	47	47
A Ordinary shares	-	-	-	-	-	-	-
C Ordinary shares	-	-	-	-	-	120	120
	-	-	-	-	-	167	167
Investments realised during the period
Ordinary shares	-	(50)	-	-	-	-	(50)
A Ordinary shares	-	-	-	(220)	-	-	(220)
C Ordinary shares	-	-	-	-	-	-	-
	-	(50)	-	(220)	-	-	(270)
Investments re-valued during the period
Ordinary shares	-	-	-	-	-	-	-
A Ordinary shares	-	-	-	(1)	-	-	(1)
C Ordinary shares	-	-	-	-	-	-	-
	-	-	-	(1)	-	-	(1)
Investments at 30 June 2014
Ordinary shares	3,277	1,088	5,251	3,550	-	2,300	15,466
A Ordinary shares	-	-	2,157	600	890	-	3,647
C Ordinary shares	-	-	-	-	-	120	120
Total	3,277	1,088	7,408	4,150	890	2,420	19,233
Total investments %	17.04%	5.66%	38.51%	21.58%	4.63%	12.58%	100.00%

During the period £120,000 was advanced by the C share class to four companies to develop Hydro Electric Power plants. Since the quarter end one of the companies has commenced construction and has drawn down further investment of £3.1 million.

Material Events and Transactions 

During the period 6,454,916 C shares were issued. There were no other 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 or contact@triplepoint.co.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

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