Triple Point Income VCT plc
9 February 2017
Legal Entity Identifier: 213800IXD8S5WY88L245
Interim Management Statement for the quarter ended 31 December 2016
Highlights
The Company
The Company's funds at 31 December 2016 were 97% invested in a portfolio of VCT qualifying and non-qualifying unquoted investments. It continues to meet the condition that 70% of relevant funds must be invested in VCT qualifying investments.
Ordinary Share Class
· Net Asset Value ("NAV") has increased to 68.27p per share as a result of a profit for this quarter of 0.14p per share.
· At 31 December 2016 the total paid by way of dividends to shareholders was 25.56p per share, bringing the total return to 93.83p per share. This compares to a weighted average subscription share price of 83.6p per share.
· Shown below is a breakdown of the Ordinary Share Class's total unquoted investment portfolio by sector at 31 December 2016:
Cinema Digitisation 27%
Crematorium Management 6%
Hydro Electric Power 32%
Electricity Generation - other 31%
SME Funding - other 4%
A Share Class
· Net Asset Value ("NAV") has increased to 42.13p per share as a result of a profit for this quarter of 0.34p per share.
· At 31 December 2016 the total paid by way of dividends to shareholders was 56.20p per share, bringing the total return to 98.33p. This compares to a weighted average subscription share price of 86.4p per share.
· Shown below is a breakdown of the A Share Class's total unquoted investment portfolio by sector at 31 December 2016:
Landfill Gas 45%
SME Funding - other 55%
C Share Class
· Net Asset Value ("NAV") has increased to 102.05p per share as a result of a profit for this quarter of 0.68p per share.
· At 31 December 2016 the total paid by way of dividends to shareholders was 5p per share, bringing the total return to 107.05p per share.
· 100% of the VCT qualifying investments are in the Hydro Electric Power sector.
· Shown below is a breakdown of the C Share Class's total unquoted investment portfolio by sector at 31 December 2016:
Hydro Electric Power 76%
SME Funding - hydro electric power 24%
D Share Class
· Net Asset Value ("NAV") has increased to 104.04p per share as a result of a profit for this quarter of 0.96p per share.
· 94% of the VCT qualifying investments are in the Hydro Electric Power sector.
· Shown below is a breakdown the D Share Class's total unquoted investment portfolio by sector at 31 December 2016:
Hydro Electric Power 85%
SME Funding - hydro electric power 9%
SME Funding - other 6%
Net Assets at 31 December 2016:
|
31-Dec-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 |
1,721 |
950 |
3,903 |
2,953 |
9,527 |
|
1,586 |
950 |
4,377 |
2,953 |
9,866 |
|
12,231 |
1,739 |
13,658 |
13,090 |
40,718 |
12,600 |
1,739 |
14,132 |
13,090 |
41,561 |
Cash and cash equivalents |
738 |
124 |
149 |
305 |
1,316 |
|
326 |
78 |
246 |
382 |
1,032 |
Total Investments |
12,969 |
1,863 |
13,807 |
13,395 |
42,034 |
|
12,926 |
1,817 |
14,378 |
13,472 |
42,593 |
Other assets & liabilities |
318 |
299 |
(90) |
859 |
1,386 |
|
249 |
301 |
(260) |
403 |
693 |
Net assets |
13,287 |
2,162 |
13,717 |
14,254 |
43,420 |
|
13,175 |
2,118 |
14,118 |
13,875 |
43,286 |
Net asset value per share (p) |
68.27 |
42.13 |
102.05 |
104.04 |
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.