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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| F&C PR EQ Zeros | LSE:FPEZ | London | Ordinary Share | GB00B5883J06 | ZERO DIV PREF SHS 0.01P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 151.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
TIDMFPEO TIDMFPEZ TIDMFPER
RNS Number : 4987K
F&C Private Equity Trust PLC
22 August 2012
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To: Stock Exchange For immediate release:
22 August 2012
F&C Private Equity Zeros plc
Unaudited results for the half year to 30 June 2012
Chairman's Statement
I am pleased to present the Company's results for the six months ended 30 June 2012.
The Company is a wholly owned subsidiary of F&C Private Equity Trust plc ('F&C PET') and was established solely for the purpose of issuing and redeeming Zero Dividend Preference Shares ('ZDP Shares'). 30,000,000 ZDP Shares were issued on 14 December 2009 at 100 pence per share and will redeem on 15 December 2014 at a price of 152.14 pence per ZDP Share, giving a redemption yield of 8.75 per cent per annum. The proceeds of the ZDP Shares issue were lent to F&C PET for use in future investment opportunities.
As at 30 June 2012 the ZDP Share price was 133.75 pence, representing a premium of 10.1 per cent over the net asset value per ZDP Share of 121.50 pence.
Mark Tennant
Chairman
F&C Private Equity Zeros plc
Statement of Comprehensive Income
Six months Six months Year ended
ended 30 ended 30 31 December
June 2012 June 2011 2011
(unaudited) (unaudited) (audited)
(restated)
GBP'000 GBP'000 GBP'000
Revenue
Interest Income 283 276 561
----------------------------- ------------ ------------ -------------
Total income 283 276 561
Expenditure
Expenses - - -
----------------------------- ------------ ------------ -------------
Total expenditure - - -
----------------------------- ------------ ------------ -------------
Profit before finance costs
and taxation 283 276 561
Finance costs (1,628) (1,477) (3,048)
----------------------------- ------------ ------------ -------------
Loss before taxation (1,345) (1,201) (2,487)
Taxation - - -
----------------------------- ------------ ------------ -------------
Loss for the year (1,345) (1,201) (2,487)
----------------------------- ------------ ------------ -------------
Loss per Ordinary Share (2,690.0)p (2,402.0)p (4,974.0)p
----------------------------- ------------ ------------ -------------
F&C Private Equity Zeros plc
Balance Sheet
As at 31
As at 30 As at 30 December
June 2012 June 2011 2011
(unaudited) (unaudited) (audited)
(restated)
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
-------------------------------- -------- ------------ -------- ------------ -------- -----------
Non current assets
Investments 50 50 50
Inter-company receivable 7,582 4,383 5,954
Subordinated unsecured
loan note 27,431 26,866 27,149
35,063 31,299 33,153
Current assets
Loans and other receivables 2 1 1
Cash at bank 5 3 5
-------------------------------- -------- ------------ -------- ------------ -------- -----------
Net current assets 7 4 6
-------------------------------- -------- ------------ -------- ------------ -------- -----------
Total assets less current
liabilities 35,070 31,303 33,159
Creditors: amounts falling
due after one year
Zero dividend preference
shares (36,450) (33,251) (34,822)
Net liabilities (1,380) (1,948) (1,663)
-------------------------------- -------- ------------ -------- ------------ -------- -----------
Equity
Ordinary share capital 50 50 50
Capital contribution reserve 7,582 4,383 5,954
Other reserve (1,437) (2,002) (1,719)
Revenue reserve (7,575) (4,379) (5,948)
-------------------------------- -------- ------------ -------- ------------ -------- -----------
Shareholders' funds (1,380) (1,948) (1,663)
-------------------------------- -------- ------------ -------- ------------ -------- -----------
Net liabilities per Ordinary
Share (2,760.0)p (3,896.0)p (3,326.0)p
-------------------------------- -------- ------------ -------- ------------ -------- -----------
Net asset value per ZDP
Share 121.5p 110.8p 116.1p
-------------------------------- -------- ------------ -------- ------------ -------- -----------
F&C Private Equity Zeros plc
Statement of Changes in Equity
For the period ended 30 June 2012
(unaudited)
Capital Contribution Reserve
Share Other Revenue Reserve
Capital Reserve Total
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Net liabilities at start of
period 50 5,954 (1,719) (5,948) (1,663)
Loss for the year - - - (1,345) (1,345)
Capital contribution during the
period - 1,628 - - 1,628
Transfer to other reserve - - 282 (282) -
---------------------------------- --------- ----------------------------- ---------- ------------------ --------
Net liabilities at 30 June 2012 50 7,582 (1,437) (7,575) (1,380)
---------------------------------- --------- ----------------------------- ---------- ------------------ --------
For the period ended 30 June 2011 (unaudited)
(restated)
Capital
Contribution Other Revenue
Share Capital Reserve Reserve Reserve Total
(restated) (restated) (restated) (restated)
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
------------------------------- -------------- --------------- ----------- ---------------- -----------
Net liabilities at start of
period 50 2,906 (2,277) (2,903) (2,224)
Loss for the period - - - (1,201) (1,201)
Capital contribution during
the period - 1,477 - - 1,477
Transfer to other reserve - - 275 (275) -
------------------------------- -------------- --------------- ----------- ---------------- -----------
Net liabilities at 30 June
2011 50 4,383 (2,002) (4,379) (1,948)
------------------------------- -------------- --------------- ----------- ---------------- -----------
For the year ended 31 December 2011 (audited)
Capital
Contribution Other Revenue
Share Capital Reserve Reserve Reserve Total
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Net liabilities at start of
year 50 2,906 (2,277) (2,903) (2,224)
Loss for the year - - - (2,487) (2,487)
Capital contribution during
the year - 3,048 - - 3,048
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