TIDMAAVC 
 
   ALBION VENTURE CAPITAL TRUST PLC 
 
   Interim Management Statement 
 
   Introduction 
 
   I am pleased to present Albion Venture Capital Trust PLC (the 
"Company")'s interim management statement for the period from 1 April 
2015 to 31 July 2015. 
 
   Performance and dividends 
 
   The Company's unaudited net asset value (NAV), as at 30 June 2015 was 
GBP51.74 million or 72.30 pence per share (excluding treasury shares), 
an increase of 0.68 pence per share (0.95 per cent.) since 31 March 
2015. 
 
   After accounting for a dividend for the year to 31 March 2016 of 2.50 
pence per share (total cost: GBP1.8 million), paid on 31 July 2015 to 
shareholders on the register as at 10 July 2015, the NAV is 69.80 pence 
per share. 
 
   Disposals and loan stock repayments 
 
   During the period from 1 April 2015 to 31 July 2015, the Company 
received loan stock repayments from Kew Green VCT (Stansted) Limited of 
GBP164,000. 
 
   Portfolio 
 
   The following investments have been made during the period from 1 April 
2015 to 31 July 2015: 
 
 
 
 
Name                   GBP'000   Activity 
Active Lives Care        600    Develop and operate a 72 bed care home in Cumnor Hill, 
Limited (existing                Oxfordshire. 
investment) 
Ryefield Court Care      465    Develop and operate a 60 bed care home in Hillingdon, 
Limited (existing                Middlesex. 
investment) 
 
 
   Top ten holdings (as at 30 June 2015) 
 
 
 
 
                                  Carrying value 
Investment                            GBP'000             % of net asset value 
Kew Green VCT (Stansted) Limited           7,430                         14.4% 
Chonais River Hydro Limited                3,485                          6.7% 
Radnor House School (Holdings) 
 Limited                                   3,113                          6.0% 
Shinfield Lodge Care Limited               3,074                          5.9% 
The Crown Hotel Harrogate 
 Limited                                   2,994                          5.8% 
The Stanwell Hotel Limited                 2,383                          4.6% 
Active Lives Care Limited                  2,342                          4.5% 
Kensington Health Clubs Limited            1,876                          3.6% 
Gharagain River Hydro Limited              1,690                          3.3% 
Ryefield Court Care Limited                1,445                          2.8% 
 
 
   A full breakdown of the Company's portfolio can be found on the funds 
website at www.albion-ventures.co.uk/ourfunds/AAVC.htm, by following the 
'Portfolio of Investments' link under the 'Investor Centre' section. 
 
   Dividend Reinvestment Scheme 
 
   The Company continues to offer a Dividend Reinvestment Scheme to 
existing shareholders. Details of this scheme can be found at 
http://www.albion-ventures.co.uk/ourfunds/AAVC.htm. 
 
   Share buy-backs 
 
   During the period from 1 April 2015 to 31 July 2015, the Company 
purchased 543,000 shares at an average price of 65.15 pence per share. 
These shares will be held in treasury. 
 
   Fundraising and share issues 
 
   During the period from 1 April 2015 to 31 July 2015, the Company issued 
the following shares under the Albion VCTs Prospectus Top Up Offers 
2014/2015: 
 
 
 
 
                                       Issue price per 
                 Number of shares     share (including 
Date                  issued           costs of issue)    Net proceeds GBP'000 
2 April 2015              5,158,657          71.30 pence                 3,568 
30 June 2015                 57,128          73.10 pence                    41 
30 June 2015                 11,337          73.50 pence                     8 
30 June 2015                805,008          73.90 pence                   577 
Total                     6,032,130                                      4,194 
 
 
   The Board announced on 16 July 2015 that the Company had reached its 
GBP6 million limit under its offer pursuant to the Prospectus dated 17 
November 2014, and so was closed. 
 
   Share price 
 
   The closing mid market price for the shares on 30 July 2015 was 66.50 
pence per share, a 4.7 per cent. discount to the net asset value at 30 
June 2015 of 69.80 pence per share (after accounting for the dividend of 
2.50 pence per share with record date 10 July 2015). 
 
   Material events and transactions 
 
   There have been no further significant events or transactions that the 
Board is aware of which would have a material impact on the financial 
position of the Company between 1 April 2015 and 31 July 2015. 
 
   Further information regarding historic and current financial performance 
and other useful shareholder information can be found on the Company's 
website under http://www.albion-ventures.co.uk/ourfunds/AAVC.htm. 
 
   David Watkins, Chairman 
 
   31 July 2015 
 
   For further information please contact: 
 
   Patrick Reeve, Albion Ventures LLP - Tel: 020 7601 1850 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Albion Venture Capital Trust PLC via Globenewswire 
 
   HUG#1942814 
 
 
  http://www.closeventures.co.uk
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