Downing Planned Exit VCT 5 PLC : Interim Management Statement
October 19 2011 - 10:41AM
UK Regulatory
TIDMDPV5
Downing Planned Exit VCT 5 plc
Interim Management Statement for the three months ended 31 August 2011
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, Downing Planned Exit VCT 4 plc presents an Interim Management
Statement for the three month period ended 31 August 2011. The statement also
includes relevant financial information between the end of the period and the
date of this statement.
Performance
Unaudited Unaudited Unaudited Audited
31 Aug 31 May 28 Feb 30 Nov
2011 2011 2011 2010
Pence Pence Pence Pence
Net Asset Value ("NAV") 14.4 34.0 34.5 34.5
Cumulative Dividends 74.0 56.0 56.0 56.0
Total Return * 88.4 90.0 90.5 90.5
*NAV plus cumulative dividends paid since launch
Dividends paid or declared in the period
A dividend of 18 pence per share was paid on 26 August 2011 to Shareholders on
the register at 12 August 2011. No dividend have been paid or declared in the
period from 1 September 2011 to the date of this announcement.
Investment portfolio summary at 31 August 2011 (unaudited)
Valuation
movement
between
1 June 2011 and
Cost Valuation 31 August 2011
GBP'000 GBP'000 GBP'000
VCT Qualifying Investments
Coast Contractors Limited 2,252 1,421 (333)
Heyford Contracting (South) Limited 1,500 875 -
Future Films Production Services Limited 128 64 -
---------------------------------
3,880 2,360 (333)
---------------------------------
Non Qualifying Investments
Heyford Contracting (South) Limited 150 125 -
Vermont Developments Limited 902 50 -
Aminghurst Limited 993 - -
---------------------------------
2,045 175 -
---------------------------------
5,925 2,535 (333)
---------------------------------
Investment additions during the 3 months ended 31 August 2011
GBP'000
Coast Constructors Limited 497
Investment disposals during 3 months ended 31 August 2011
Gain/ Total
Market (loss) realised
value at Disposal against gain/
Cost 1 June 2011 proceeds cost (loss)
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
West Tower Holding Limited 1,750 1,750 1,750 - -
Hoole Hall Spa and Leisure Club
Limited 1,000 1,000 1,000 - -
Hoole Hall Country Club Holdings
Limited 875 875 875 - -
Sanguine Hospitality Limited 243 238 238 (5) -
Chapel Street Hotel (2008)
Limited 63 126 126 63 -
Chapel Street Hotel Limited 3 3 3 - -
-----------------------------------------------
3,934 3,992 3,992 58 -
-----------------------------------------------
No additions or disposals were made in the period from 1 September 2011 to the
date of this announcement.
Changes to share capital
The number of Ordinary Shares in issue as at the date of this announcement is
21,024,816. There have been no changes in share capital during the 3 months from
1 June 2011 to 31 August 2011 or in the period from 1 September 2011 to the date
of this announcement.
Winding up plans
At the AGM on 19 May 2011, Shareholders passed a resolution for the Company to
discontinue as a VCT. Formal proposals for the Company to enter members'
voluntary liquidation are being prepared and will be put to Shareholders for
approval in due course.
Material events
Other than described above, there were no material events during the three
months from 1 June 2011 to 31 August 2011 or in the period from 1 September
2011 to the date of this announcement.
Website
Financial reports and other information regarding the Company can be found at
www.downing.co.uk.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Downing Planned Exit VCT 5 PLC via Thomson Reuters ONE
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