Downing Abs Inc 2 Downing Absolute Income Vct 2 Plc : Interim Management Statement

 
TIDMDA2O 
 
   Downing Absolute Income VCT 2 plc 
 
   Interim Management Statement for the period ended 30 June 2013 
 
   In accordance with Rule 4.3 of the Disclosure and Transparency Rules of 
the UK Listing Authority, Downing Absolute Income VCT 2 plc presents an 
Interim Management Statement covering the period from 1 April 2013 to 30 
June 2013. The statement also includes relevant financial information 
between the end of the period and the date of this statement. 
 
   Performance 
 
 
 
 
                                     Unaudited  Audited   Unaudited  Unaudited 
                                      30 June   31 March   31 Dec     30 Sep 
                                        2013      2013       2012       2012 
                                       Pence     Pence      Pence      Pence 
Unaudited Net Asset Value per 
 Ordinary Share                           70.2      69.7       70.9       69.7 
Unaudited Net Asset Value per 'A' 
 Share                                     0.1       0.1        0.1        0.1 
Dividends paid                            15.0      15.0       12.5       12.5 
Total return per Ordinary Share and 
 'A' Share                                85.3      84.8       83.4       82.3 
 
 
   Dividends paid or declared in the period 
 
   On 13 July 2013, the Company proposed a final dividend of 2.5 pence per 
Ordinary Share in respect of the year ended 31 March 2013. Subject to 
Shareholder approval at the AGM on 3 September 2013, the dividend will 
be paid on 13 September 2013 to Ordinary Shareholders on the register at 
16 August 2013. 
 
   Investment portfolio summary at 30 June 2013 (Unaudited) 
 
 
 
 
                                                                Valuation 
                                                               gain/(loss) 
                                                            between 1 Apr 2013 
                                        Cost    Valuation    and 30 Jun 2013 
                                       GBP'000   GBP'000         GBP'000 
Tramps Night Club Limited                1,181      1,303                    - 
Quadrate Spa Limited                       988        988                    - 
Quadrate Catering Limited                  887        927                    - 
Mosaic Spa and Health Clubs Limited        850        850                    - 
Rostima Limited                          1,002        832                    - 
Antelope Pub Limited                       750        829                    - 
Data Centre Response Limited               526        725                    - 
Redmed Limited                             529        664                    - 
Future Biogas (Reepham Road) Limited       561        561                    - 
Accumuli plc                               228        517                  105 
Residential PV Trading Limited             500        500                    - 
Tracsis plc                                128        455                 (63) 
Domestic Solar Limited                     400        448                    - 
Retallack Surfpods Limited                 435        435                    - 
Slopingtactic Limited                      379        379                    - 
The 3D Pub Co Limited                      517        362                    - 
Alpha Schools (Holdings) Limited           333        353                    - 
Liverpool Nurseries (Holdings) 
 Limited                                   316        316                    - 
Kidspace Adventures Holdings Limited       300        314                    - 
Baron House Developments LLP               308        308                    - 
Fenkle Street LLP                          288        288                    - 
Angel Solar Limited                        250        250                    - 
Camandale Limited                        1,112        218                    - 
Kidspace Adventures Limited                173        173                    - 
Chapel Street Food and Beverage 
 Limited                                   250        129                    - 
Chapel Street Services Limited             250        129                    - 
Ridgeway Pub Company Limited               136        126                    - 
Commercial Street Hotel Limited            115        115                    - 
EPI Service Limited (in 
 administration)                           920        107                    - 
Dominions House Limited                     89         89                    - 
Kilmarnock Monkey Bar Limited               83         83                    - 
Chapel Street Hotel Limited                 10          5                    - 
Total                                   14,794     13,778                   42 
 
 
 
   *Quoted on AIM 
 
   Investment additions during the three month period ended 30 June 2013 
 
 
 
 
                                       GBP'000 
Future Biogas (Reepham Road) Limited        63 
Total                                       63 
 
 
 
   Investment disposals during the three month period ended 30 June 2013 
 
 
 
 
                                     Market                  Gain      Total 
                                     value at   Disposal    against   realised 
                           Cost     1 Apr 2013   proceeds    cost       gain 
                          GBP'000    GBP'000     GBP'000   GBP'000    GBP'000 
Baron House Developments 
 LLP                           92           92         92         -          - 
Retallack Surfpods 
 Limited                       65           65         65         -          - 
Liverpool Nurseries 
 Limited                       23           23         23         -          - 
Total                         180          180        180         -          - 
 
 
 
   There were no investment additions or disposals in the period from 1 
July 2013 to the date of this announcement. 
 
   Share capital 
 
 
 
 
                           Ordinary Shares        'A' Shares 
                             of 0.1p each         of 0.1p each 
                           Shares    GBP'000    Shares    GBP'000 
As at 31 March 2013      19,875,508       20  29,897,870       30 
Shares repurchased          (5,175)        -    (15,525)        - 
As at 31 December 2012   19,870,333       20  29,882,345       30 
 
 
 
   During the period from 1 July 2013 to the date of this announcement no 
Ordinary Shares or 'A' Shares were repurchased. 
 
   Material events 
 
   Other than described above, there were no material events during three 
months to 30 June 2013 or in the period from 1 July 2013 to the date of 
this announcement. 
 
   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 Absolute Income VCT 2 Plc via Thomson Reuters ONE 
 
   HUG#1716468