Triple Point Income VCT plc
5 February 2015
Interim Management Statement for the quarter ended 31 December 2014
Highlights
Ordinary Share Class
· Net Asset Value has increased from 79.97p to 80.36p per share during the last quarter.
· At the date of this report the cumulative total paid by way of dividends to shareholders is 4.11p per share, bringing the total return to 84.47p per share. This compares to a weighted average share price at acquisition of 83.6p per share.
· 89% of the Ordinary Share Class unquoted investments are invested in qualifying investments.
· The table below shows the unquoted qualifying investment portfolio by sector:
|
|
Electricity Generation |
|
Industry Sector |
Cinema Digitisation |
Solar PV |
Anaerobic Digestion |
Hydro Electric Power |
Total Unquoted Qualifying Investments |
|
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
Total investments £ |
3,277 |
5,251 |
3,550 |
2,060 |
14,138 |
Total investments % |
23% |
37% |
25% |
15% |
100% |
A Share Class
· Net Asset Value has increased from 76.19p to 76.32p per share during the last quarter.
· At the date of this report the cumulative total paid by way of dividends to shareholders is 11.20p per share, bringing the total return to 87.52p per share. This compares to a weighted average share price at acquisition of 86.4p per share.
· 92% of the A Share Class unquoted investments are invested in qualifying investments.
· The table below shows the unquoted qualifying investment portfolio by sector:
|
Electricity Generation |
|
Industry Sector |
Solar PV |
Anaerobic Digestion |
Landfill Gas |
Total Unquoted Qualifying Investments |
|
£'000 |
£'000 |
£'000 |
£'000 |
Total investments £ |
2,157 |
600 |
890 |
3,647 |
Total investments % |
60% |
16% |
24% |
100% |
C Share Class
· Net Asset Value has increased from 98.45p to 98.52p per share during the last quarter. This compares to a subscription price of £1.
· 95% of the C Share Class unquoted investments are invested in qualifying investments.
· 100% of the C Share Class qualifying investments are into Hydro Electric Power.
D Share Class
Shareholders approved the issue of a new share class for up to 19,020,009 D Ordinary Shares. The offer was launched on 29 October 2014 and closes on 30 April 2015. Applications totalling £6.5 million have been received, of which £4 million has been allotted. The funds will be deployed into companies investing in small scale hydro electric power projects in Scotland.
Net Assets at 31 December 2014:
|
31 December 2014 Unaudited |
31 March 2014 Audited |
|
Ord. Shares |
A Shares |
C Shares |
Total |
Ord. Shares |
A Shares |
C Shares |
Total |
|
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
£'000 |
VCT qualifying unquoted investments |
14,138 |
3,647 |
9,430 |
27,215 |
14,331 |
3,647 |
- |
17,978 |
VCT non qualifying unquoted investments |
1,333 |
- |
238 |
1,571 |
1,138 |
221 |
- |
1,359 |
|
15,471 |
3,647 |
9,668 |
28,786 |
15,469 |
3,868 |
- |
19,337 |
Cash and cash equivalents |
335 |
302 |
311 |
948 |
147 |
377 |
6,902 |
7,426 |
Total investments |
15,806 |
3,949 |
9,979 |
29,734 |
15,616 |
4,245 |
6,902 |
26,763 |
Other assets & liabilities |
(156) |
(33) |
3,263 |
3,074 |
(29) |
(30) |
(29) |
(88) |
Net assets |
15,650 |
3,916 |
13,242 |
32,808 |
15,587 |
4,215 |
6,873 |
26,675 |
Net asset value per share |
80.36p |
76.32p |
98.52p |
n/a |
79.03p |
82.15p |
98.38p |
n/a |
For further information, please contact Claire Ainsworth or Belinda Thomas at Triple Point Investment Management LLP on 0207 201 8989.