Triple Point Income VCT plc
20 July 2016
Interim Management Statement for the quarter ended 30 June 2016
Highlights
The Company
The Company's funds at 30 June 2016 were 96% invested in a portfolio of VCT qualifying and non-qualifying unquoted investments. It continues to meet the condition that 70% of funds must be invested in VCT qualifying investments within three years.
Ordinary Share Class
· Net Asset Value ("NAV") has increased to 67.92p per share as a result of a profit for this quarter of 0.23p per share.
· At 30 June 2016 the total paid by way of dividends to shareholders was 25.56p per share, bringing the total return to 93.48p per share. This compares to a weighted average subscription share price of 83.6p per share.
· The Ordinary Share Class' unquoted investment portfolio by sector at 30 June 2016 is shown below:
Energy Generation - Other |
32% |
Hydro Electric Power |
30% |
Cinema Digitisation |
27% |
Crematorium Management |
7% |
SME Lending - Other |
4% |
A Share Class
· Net Asset Value ("NAV") has increased to 41.51p per share as a result of a profit for this quarter of 0.23p per share.
· At 30 June 2016 the total paid by way of dividends to shareholders was 56.20p per share, bringing the total return to 97.71p. This compares to a weighted average subscription share price of 86.4p per share.
· The A Share Class' unquoted investment portfolio by sector at 30 June 2016 is shown below:
SME Lending - Other |
55% |
Landfill Gas |
45% |
C Share Class
· Net Asset Value ("NAV") has increased to 105.72p per share as a result of a profit for this quarter of 0.69p per share.
· On 8 July 2016, after the period end, the C Class Shareholders received their first dividend of 5p per share. This was paid to Shareholders on the register on 24 June 2016.
· 100% of the VCT qualifying investments are in the Hydro Electric Power sector.
· The C Share Class' unquoted investment portfolio by sector at 30 June 2016 is shown below:
Hydro Electric Power |
74% |
SME Funding - Hydro Electric Power |
26% |
D Share Class
· Net Asset Value ("NAV") has increased to 102.06p per share as a result of a profit for this quarter of 0.80p per share.
· 100% of the VCT qualifying investments are in the Hydro Electric Power sector.
· The D Share Class' unquoted investment portfolio by sector at 30 June 2016 is shown below:
Hydro Electric Power |
85% |
SME Funding - Hydro Electric Power |
9% |
SME Lending - Other |
6% |
Net Assets at 30 June 2016:
|
30-Jun-16 |
|
31-Mar-16 |
|
Unaudited |
|
Audited |
|
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 |
10,510 |
789 |
9,755 |
10,137 |
31,191 |
|
11,014 |
789 |
9,755 |
10,137 |
31,695 |
VCT non qualifying unquoted investments |
1,582 |
950 |
4,280 |
2,953 |
9,765 |
|
1,586 |
950 |
4,377 |
2,953 |
9,866 |
|
12,092 |
1,739 |
14,035 |
13,090 |
40,956 |
12,600 |
1,739 |
14,132 |
13,090 |
41,561 |
Cash and cash equivalents |
775 |
77 |
419 |
332 |
1,603 |
|
326 |
78 |
246 |
382 |
1,032 |
Total Investments |
12,867 |
1,816 |
14,454 |
13,422 |
42,559 |
|
12,926 |
1,817 |
14,378 |
13,472 |
42,593 |
Other assets & liabilities |
352 |
314 |
-243 |
562 |
985 |
|
249 |
301 |
-260 |
403 |
693 |
Net assets |
13,219 |
2,130 |
14,211 |
13,984 |
43,544 |
|
13,175 |
2,118 |
14,118 |
13,875 |
43,286 |
Net asset value per share |
67.92 |
41.51 |
105.72 |
102.06 |
n/a |
|
67.69 |
41.28 |
105.03 |
101.26 |
n/a |
For further information, please contact Ben Beaton or Belinda Thomas at Triple Point Investment Management LLP on 0207 201 8989.