FORESIGHT SOLAR & INFRASTRUCTURE VCT PLC ORD 1P Foresight Solar & Infrastructure Vct Plc : Interim Management Statement

 
TIDMFTSV 
 
   Foresight Solar and Infrastructure VCT plc 
 
   Interim Management Statement for the Quarter Ended 31 March 2016 
 
   Foresight Solar VCT plc presents its interim management statement for 
the quarter ended 31 March 2016. This constitutes the company's third 
interim management statement for the financial year ending 30 June 2016, 
as required by the UK Listing Authority's Disclosure and Transparency 
Rule 4.3. 
 
   The unaudited net asset value (NAV) per ordinary share as at 31 March 
2016 was 103.2p (31 December 2015: 105.9p). 
 
   During the three month period ended 31 March 2016 the underlying 
performance of the Ordinary Shares fund remained robust and generated a 
positive return per Ordinary Share of 3.1p (2.9%). However, given that 
the Ordinary Shares fund has or will during the course of 2016 pass the 
minimum five year holding period for all investors, the Board has 
elected to recognise an accrual for the performance fee incentive of 
approximately 5.8p per Ordinary Share at this time and this has been 
deducted to arrive at the NAV of 103.2p per Ordinary Share as at 31 
March 2016. The accrual will be amended quarterly to reflect movements 
in the underlying total return of the Ordinary Share class prior to 
Shareholders being offered the opportunity to realise their investment 
at which point the final performance incentive fee will be determined. 
 
   The unaudited net asset value (NAV) per C share as at 31 March 2016 was 
83.1p (31 December 2015: 82.0p). 
 
   In line with original expectations, an interim dividend of 3.0p per 
Ordinary Share and 2.5p per C Share was paid to shareholders on 8 April 
2016. 
 
   At 31 March 2016 there were 38,290,862 Ordinary shares in issue. There 
were no share movements during the three months ended 31 March 2016 on 
the ordinary shares fund. 
 
   At 31 March 2016 there were 12,509,245 C shares in issue. There were no 
share movements during the three months ended 31 March 2016 on the C 
shares fund. 
 
   The net assets at 31 March 2016 comprised the following: 
 
 
 
 
                                                                  % of 
                                                                   Net 
Ordinary Shares Fund                                    GBP'000  Assets 
Unquoted Investments at fair value as determined by 
 the Directors                                           41,443     105% 
Quoted investments at bid price                               0       0% 
Total venture capital investments                        41,443     105% 
Cash & liquid investments                                    35       0% 
Other net current assets                                (1,945)     (5)% 
Net Assets                                               39,533    100.0 
 
 
 
 
                                                                 % of Net 
C Shares Fund                                         GBP'000     Assets 
Unquoted Investments at fair value as determined by 
 the Directors                                         10,088            97% 
Quoted investments at bid price                             0             0% 
Total venture capital investments                           0            97% 
Cash & liquid investments                                  58           0.6% 
Other net current assets                                  248           2.4% 
Net Assets                                             10,394          100.0 
 
   For further information please contact: 
 
   Gary Fraser, Foresight Group:                            020 3667 8100 
 
   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: Foresight Solar & Infrastructure VCT plc via Globenewswire 
 
   HUG#2018757 
 
 
  http://www.foresightgroup.eu/ 
 

(END) Dow Jones Newswires

June 07, 2016 12:00 ET (16:00 GMT)

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