Downing Income VCT 4 plc Downing Income Vct 4 Plc : Interim Management Statement

 
TIDMDI4O 
 
   Downing Income VCT 4 plc 
 
   Interim Management Statement 
 
   for the three months ended 30 June 2013 
 
   In accordance with Rule 4.3 of the Disclosure and Transparency Rules of 
the UK Listing Authority Downing Income VCT 4 plc presents an Interim 
Management Statement for the three month period ended 30 June 2013.  The 
statement also includes relevant financial information between the end 
of the period and the date of this statement. 
 
   Performance 
 
 
 
 
                                30 Jun       31 Mar       31 Dec      30 Sep 
                                  2013         2013         2012        2012 
                              (Unaudited)  (Unaudited)  (Unaudited)  (Audited) 
                                 Pence        Pence        Pence       Pence 
Net Asset Value                      33.3         34.6         35.8       34.8 
Cumulative distributions 
 paid                                33.5         33.5         31.0       31.0 
Total return                         66.8         68.1         66.8       65.8 
 
 
 
   Unaudited investment portfolio summary at 30 June 2013 
 
 
 
 
                                                               Valuation 
                                                                movement 
                                                                 since 
                                                                31 March 
                                             Cost   Valuation    2013 
                                           GBP'000   GBP'000    GBP'000 
Ten largest investments by value 
Anpario plc                                    252        630        149 
Vulcan Renewables Limited *                    400        400          - 
Brooks Madonald Group plc                       35        345        (4) 
Vertu Motors plc                               500        333        (4) 
Craneware plc                                  125        326       (92) 
Baron House Developments LLP *                 308        308          - 
Southampton Hotel Developments Limited *       300        300          - 
Angle plc                                      331        287       (33) 
Universe Group plc                             222        284         14 
Cohort plc                                     241        282         31 
 
Subtotal                                     2,714      3,495         61 
Other venture capital investments            6,959      2,988      (466) 
 
Total                                        9,673      6,483      (405) 
 
 
   All investments are quoted on AIM unless otherwise stated. 
 
   * Unquoted 
 
    After accounting for additions and disposals during the period. 
 
   Investment additions during the three month period ended 30 June 2013 
 
 
 
 
                             Cost 
                            GBP'000 
 
Curo Compensation Limited       150 
Inland Homes plc                200 
Ludorum plc                      18 
                                368 
 
 
 
   Since the period end, the Company has made a new investment into Science 
in Sport plc at a cost of GBP250,000. 
 
   Investment disposals during the three month period ended 30 June 2013 
 
 
 
 
                                Value at                               Total 
                                1 October  Disposal    (Loss)/gain    realised 
                       Cost      2012 *     proceeds   against cost     loss 
                      GBP'000   GBP'000     GBP'000      GBP'000      GBP'000 
 
Baron House 
 Developments LLP          92          92         92              -          - 
Datong plc                150          33         59             26       (91) 
Tristel plc               239         171         97           (74)      (142) 
                          481         296        248           (48)      (233) 
 
 
 
   *After accounting for purchases in the period 
 
   The Company disposed of two holdings after the period end receiving 
proceeds thereon of GBP470,000. 
 
   Share Realisation and Reinvestment Programme and Top Up Offer 
 
   On 18 April 2013, the Company completed a Share Realisation and 
Reinvestment Programme ("SRRP"), whereby it acquired a total of 101,999 
shares at a price of 35.0 per share. Participating Shareholders 
reinvested the proceeds and were allotted 98,939 shares at a price of 
approximately 36.1 per share. 
 
   Changes to share capital 
 
 
 
 
                                                   Shares    GBP'000 
As at 1 April 2013 Ordinary Shares of 10p each   20,918,659    2,092 
Shares issued under SRRP                             98,939       10 
Shares bought back and cancelled under SRRP       (101,999)     (10) 
Shares bought back and cancelled                  (446,000)     (45) 
As at 30 June 2013 Ordinary Shares of 10p each   20,469,599    2,047 
 
 
 
   Since the period end the Company purchased 100,000 shares for 
cancellation. 
 
   Material events 
 
   Other than described above, there were no material events during the 
period from 1 April 2013 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 Income VCT 4 plc via Thomson Reuters ONE 
 
   HUG#1723111