Interim Management Statement (8083W)
February 03 2012 - 11:33AM
UK Regulatory
TIDMTPV2
RNS Number : 8083W
TP70 2008 (ii) VCT PLC
03 February 2012
TP70 2008 (II) VCT plc
3 February 2012
Interim Management Statement for the quarter ended 31 December
2011
TP70 2008 (II) VCT plc has pleasure in submitting its Interim
Management Statement for the quarter ended 31 December 2011. This
constitutes the Company's second Interim Management Statement for
the year ended 31 March 2012, as required by the UK Listing
Authority's Disclosure and Transparency Rule 4.3.
Net assets at 31 December 2011 comprised:
31 December 30 September
2011 2011 31 March 2011
Unaudited Unaudited Audited
Total % Total % Total %
GBP'000 GBP'000 GBP'000
VCT qualifying
fixed asset investments
at fair value 13,811 76.2 14,554 79.3 14,365 74.8
Non qualifying
investments:
- GAM Diversity
exposure 3,755 20.7 3,806 20.7 4,333 22.6
- Money market
funds - - - - 398 2.1
Net current assets
(including cash
and cash equivalents) 566 3.1 2 0.0 97 0.5
18,132 100.0 18,362 100.0 19,193 100.0
-------- ------ -------- ------ -------- ------
Net asset value
per share 79.32p 80.33p 83.96p
Investment Activity
The Company's strategy is to offer combined exposure to GAM
Diversity and to Triple Point managed VCT qualifying investments.
This strategy is intended to provide substantial exposure to a fund
of hedge funds within a Venture Capital Trust.
The Company continues to satisfy the test of being 70% invested
in qualifying holdings.
During the period the Company made no new qualifying
investments. The GAM Diversity exposure contributed a loss of
GBP51,000 to the overall reduction in net asset value of
GBP230,000, the remainder coming from a revaluation and
realisations of qualifying investments.
The Company holds 50% of the issued share capital of Lorngreen
Limited, which in turn holds an investment in GAM Diversity 2.5XL.
The Company also has an exposure to GAM Diversity held through a
note executed with Bank Julius Baer. This means that approximately
51% of the Company's net asset value is exposed to the performance
of GAM Diversity, which fell by 1.3% during the period.
Material Events and Transactions
During the period no shares were issued and no shares were
purchased by the Company for cancellation.
Further Information
For further information, please contact Claire Ainsworth or
Chris Tottle at Triple Point Investment Management LLP on 0207 201
8989.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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