Triple Point Income VCT PLC Interim Management Statement (7798E)

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RNS Number : 7798E

Triple Point Income VCT PLC

20 July 2016

Triple Point Income VCT plc

20 July 2016

Interim Management Statement for the quarter ended 30 June 2016

Highlights

The Company

The Company's funds at 30 June 2016 were 96% invested in a portfolio of VCT qualifying and non-qualifying unquoted investments. It continues to meet the condition that 70% of funds must be invested in VCT qualifying investments within three years.

Ordinary Share Class

-- Net Asset Value ("NAV") has increased to 67.92p per share as a result of a profit for this quarter of 0.23p per share.

-- At 30 June 2016 the total paid by way of dividends to shareholders was 25.56p per share, bringing the total return to 93.48p per share. This compares to a weighted average subscription share price of 83.6p per share.

-- The Ordinary Share Class' unquoted investment portfolio by sector at 30 June 2016 is shown below:

 
 Energy Generation - Other    32% 
---------------------------  ---- 
 Hydro Electric Power         30% 
---------------------------  ---- 
 Cinema Digitisation          27% 
---------------------------  ---- 
 Crematorium Management        7% 
---------------------------  ---- 
 SME Lending - Other          4% 
---------------------------  ---- 
 

A Share Class

-- Net Asset Value ("NAV") has increased to 41.51p per share as a result of a profit for this quarter of 0.23p per share.

-- At 30 June 2016 the total paid by way of dividends to shareholders was 56.20p per share, bringing the total return to 97.71p. This compares to a weighted average subscription share price of 86.4p per share.

   --      The A Share Class' unquoted investment portfolio by sector at 30 June 2016 is shown below: 
 
 SME Lending - Other    55% 
---------------------  ---- 
 Landfill Gas           45% 
---------------------  ---- 
 

C Share Class

-- Net Asset Value ("NAV") has increased to 105.72p per share as a result of a profit for this quarter of 0.69p per share.

-- On 8 July 2016, after the period end, the C Class Shareholders received their first dividend of 5p per share. This was paid to Shareholders on the register on 24 June 2016.

   --      100% of the VCT qualifying investments are in the Hydro Electric Power sector. 
   --      The C Share Class' unquoted investment portfolio by sector at 30 June 2016 is shown below: 
 
 Hydro Electric Power            74% 
------------------------------  ---- 
 SME Funding - Hydro Electric 
  Power                          26% 
------------------------------  ---- 
 

D Share Class

-- Net Asset Value ("NAV") has increased to 102.06p per share as a result of a profit for this quarter of 0.80p per share.

   --      100% of the VCT qualifying investments are in the Hydro Electric Power sector. 
   --      The D Share Class' unquoted investment portfolio by sector at 30 June 2016 is shown below: 
 
 Hydro Electric Power            85% 
------------------------------  ---- 
 SME Funding - Hydro Electric 
  Power                          9% 
------------------------------  ---- 
 SME Lending - Other             6% 
------------------------------  ---- 
 

Net Assets at 30 June 2016:

 
                                   30-Jun-16                                          31-Mar-16 
                                   Unaudited                                           Audited 
                 Ord.        A         C         D                 Ord. 
                 Shares   Shares    Shares    Shares     Total     Shares   A Shares   C Shares   D Shares    Total 
-------------  --------  --------  --------  --------  --------  --------  ---------  ---------  ---------  -------- 
                GBP'000   GBP'000   GBP'000   GBP'000   GBP'000   GBP'000   GBP'000    GBP'000    GBP'000    GBP'000 
 VCT 
  qualifying 
  unquoted 
  investments    10,510       789     9,755    10,137    31,191    11,014        789      9,755     10,137    31,695 
 VCT non 
  qualifying 
  unquoted 
  investments     1,582       950     4,280     2,953     9,765     1,586        950      4,377      2,953     9,866 
                 12,092     1,739    14,035    13,090    40,956    12,600      1,739     14,132     13,090    41,561 
-------------  --------  --------  --------  --------            --------  ---------  ---------  ---------  -------- 
 Cash and 
  cash 
  equivalents       775        77       419       332     1,603       326         78        246        382     1,032 
-------------                                          -------- 
 Total 
  Investments    12,867     1,816    14,454    13,422    42,559    12,926      1,817     14,378     13,472    42,593 
-------------  --------  --------  --------  --------  --------  --------  ---------  ---------  ---------  -------- 
 Other assets 
  & 
  liabilities       352       314      -243       562       985       249        301       -260        403       693 
-------------  --------  --------  --------  --------  --------  --------  ---------  ---------  ---------  -------- 
 Net assets      13,219     2,130    14,211    13,984    43,544    13,175      2,118     14,118     13,875    43,286 
-------------  --------  --------  --------  --------            --------  ---------  ---------  ---------  -------- 
 Net asset 
  value per 
  share           67.92     41.51    105.72    102.06       n/a     67.69      41.28     105.03     101.26       n/a 
-------------  --------  --------  --------  --------  --------  --------  ---------  ---------  ---------  -------- 
 

For further information, please contact Ben Beaton or Belinda Thomas 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

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July 20, 2016 10:48 ET (14:48 GMT)