Foresight Vct Investors - FTV

Foresight Vct Investors - FTV

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Stock Name Stock Symbol Market Stock Type
Foresight Vct Plc FTV London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 67.50 08:00:02
Open Price Low Price High Price Close Price Previous Close
67.50 66.00 67.50 67.50 67.50
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Industry Sector
GENERAL FINANCIAL

Top Investor Posts

DateSubject
03/12/2013
19:59
damanko: For the few of us still alive and kicking here: The following news is good in one respect, but in another sense implies that a quarter of FTV's assets now sit in cash - as a result of the Alaric sale. So the good news is that a special dividend seems quite in order. The other side is that 25% of FTV's NAV no longer exists, and - given the normal discount to NAV, FTV's share price may well head south........... Company Foresight VCT PLC TIDM FTV Headline Foresight VCT PLC : Portfolio update Released 14:25 03-Dec-2013 Number HUG1747424 Foresight VCT plc Portfolio Update Foresight VCT PLC ("Foresight VCT") announces the sale by its Ordinary Share Class of its investment in Alaric Systems Limited ("Alaric"), which provides payment processing and fraud prevention software, to a subsidiary of NCR Corporation. Foresight VCT Ordinary Share Class has sold its investment of ordinary shares and loan stock in Alaric for GBP7.13 million, of which GBP1.12 million is held in escrow and in the absence of any claims against Alaric should become payable in tranches over the next four years. The carrying value of the investment in Alaric in Foresight VCT's interim management statement for the period ended 30 September 2013, published on 15 November 2013, was GBP6.375 million. This represents a return of over five times original cost and 25% of the net asset value of Foresight VCT Ordinary Share Class as at 30 September 2013. In consequence, the Board will be considering a further distribution to investors and will make an announcement in due course. For further information please contact: Gary Fraser, Foresight Group: 01732 471800
30/5/2013
08:31
timbo003: Damanko No problem, please spread the word, I tend to use TMF in preference to ADVFN for VCT write ups and commentary, as it keeps everything in one place and I know that the managers and directors regularly view TMF to find out what investors think of them and to find out what investors think of their peers and rivals. The fact that it is moderated, helps too.
17/2/2012
10:28
damanko: Last June's Interim Report stated that £750,000 had been invested in Autologic, and it was valued then at £3,068,256. The RNS below states a return of 3.4 times original capital, so £2,550,000 should be in the company's coffers, which bodes well for dividends. Plus the special payment of 7.5p will be paid in the next few weeks, following the earlier sale of APP-DNA. Perhaps things really are getting better for Foresight VCT. We'll see. Foresight Group sells stake in Autologic generating 3.4 times return for investors 02/02/2012 • UK technology success, Autologic Diagnostic Holdings Ltd ('Autologic'), receives a £46m bid from ISIS Equity Partners to implement a secondary MBO • Leading SME investor Foresight Group's initial investment on behalf of Foresight VCT, Foresight 2 VCT, Foresight 3 VCT and Foresight 4 VCT generates a 3.4 times return • Foresight retains a minority shareholding and loan position in the company. Foresight Group has sold just over 50% of its stake in Autologic to a new company funded by ISIS Equity Partners in a secondary management buyout at an enterprise value of £46m. Foresight invested £3.75m in Autologic in February 2009, on behalf of the Foresight VCT, Foresight 2 VCT, Foresight 3 VCT and Foresight 4 VCT. The secondary buyout by ISIS Equity Partners, together with a recapitalisation of the company completed in July 2011, has returned £12.7m in aggregate to the four funds, representing a return of 3.4 times the original investment. Foresight is retaining a minority shareholding and loan position in the new company Autologic is one of the fastest growing vehicle diagnostic services companies in the world, with a growth of 125% over the past two years. It supplies independent garages with diagnostic solutions and back-up support to enable them to service and repair leading car brands. Autologic is based in Oxfordshire, with offices in New York and Hong Kong and the management team is led by Kevin Finn and Peter Toland, along with Technical Director Ian Jones. Donald Maclennan, Partner at Foresight Group, commented: "The Autologic team has done a terrific job in continuing to grow the business in challenging markets. We are delighted to be retaining a shareholding in this dynamic business as the management continues to develop it into the leader in its field. Autologic is typical of the growth capital investments Foresight makes in UK SMEs; an exceptional management team, profitable, high growth, a growing global market and a sustainable competitive advantage." This transaction highlights the role that VCTs play in funding UK SMEs and in particular in providing growth capital at a time when traditional bank funding is scarce. Foresight is one of the leading investors in UK SMEs. ENDS
10/12/2011
11:45
damanko: Sorry, behind the curve on this one, dividend of 7.5p being paid in March 2012. So a nailed on yield of seven and a half percent for any new investors, which is starting to show in the price. TIDMFTV Foresight VCT plc Interim Management Statement for the Quarter Ended 30 September 2011 Foresight VCT plc presents its interim management statement for the quarter ended 30 September 2011. This constitutes the company's second interim management statement for the financial year ending 31 December 2011, 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 30 September 2011 was 123.8p (30 June 2011: 108.8p). The principal reason underlying the uplift in the NAV was the sale of the investment in App-DNA Group Limited to Citrix Systems Inc on 26 October 2011. Citrix Systems Inc acquired all of the equity in App-DNA Group Ltd for a total consideration of $92m and Foresight VCT plc received initial consideration of GBP7.3m, compared to a last reported carrying value of GBP4.55m. This equates to a return of approximately 32 times the original cost of investment. In addition a further GBP0.9 million of escrow amounts, subject to various warranties, could be receivable by the ordinary shares of Foresight VCT over the next four years. The unaudited net asset value (NAV) per Planned Exit Share as at 30 September 2011 was 89.8p (30 June 2011: 93.7p). The Board is not aware of any significant events or transactions between the date of the NAV and the date of publication of this Interim Management Statement. The number of Ordinary Shares in issue at 30 September 2011 was 28,694,271. During the three months ended 30 September 2011 no shares were issued or re- purchased by the company for cancellation. The number of Planned Exit Shares in issue at 30 September 2011 was 6,179,833. During the three months ended 30 June 2011 no shares were issued or re- purchased by the company for cancellation. Net assets of the Ordinary Shares fund at 30 September 2011 comprised the following: +-------------------------------------------------------+------+---------------+ | | GBP'000 |% of Net Assets| +-------------------------------------------------------+------+---------------+ |Unquoted Investments at fair value as determined by the| | | |Directors |28,622| 80.5| +-------------------------------------------------------+------+---------------+ |Quoted investments at bid price | 1,061| 3.0| +-------------------------------------------------------+------+---------------+ |Total venture capital investments |29,683| 83.5| +-------------------------------------------------------+------+---------------+ |Net Current Assets | 5,847| 16.5| +-------------------------------------------------------+------+---------------+ | | | | |Net Assets |35,530| 100.0| +-------------------------------------------------------+------+---------------+ Net assets of the Planned Exit Shares fund at 30 September 2011 comprised the following: +--------------------------------------------------------+-----+---------------+ | | GBP'000|% of Net Assets| +--------------------------------------------------------+-----+---------------+ |Unquoted Investments at fair value as determined by the| | | |Directors |3,212| 57.9| +--------------------------------------------------------+-----+---------------+ |Quoted investments at bid price | 0| 0.0| +--------------------------------------------------------+-----+---------------+ |Total venture capital investments |3,212| 57.9| +--------------------------------------------------------+-----+---------------+ |Net Current Assets |2,336| 42.1| +--------------------------------------------------------+-----+---------------+ | | | | |Net Assets |5,548| 100.0| +--------------------------------------------------------+-----+---------------+ Quoted investments are carried at bid price as at 30 September 2011. Unquoted investments are carried at fair value as at 30 September 2011 as determined by the directors. During the three months ended 30 September 2011 the following significant investment transactions took place (all companies unquoted except where otherwise indicated): Ordinary Shares Portfolio Follow-on investments: +-----------------+-----------------------------------+-----------------------+ | Name of Company | Business Activity | Amount Invested GBP'000 | +-----------------+-----------------------------------+-----------------------+ | Silvigen | Integrated biomass fuel solutions | 94 | +-----------------+-----------------------------------+-----------------------+ Investment disposals: +---------------------------+---------------------------+-------------+--------+ |Name of Company |Business Activity |Original Cost|Proceeds| | | | GBP'000 | | | | | | GBP'000 | +---------------------------+---------------------------+-------------+--------+ |Autologic Diagnostics |Automotive diagnostic|0 |376 | | |equipment | | | +---------------------------+---------------------------+-------------+--------+ |Clarity Commerce Solutions|Hospitality, leisure and|675 |159 | |(AIM listed) |customer engagement| | | | |software | | | +---------------------------+---------------------------+-------------+--------+ |AppDNA |Application migration|83 |83 | | |software | | | +---------------------------+---------------------------+-------------+--------+ |Trilogy Communications |Broadcast and defence|23 |23 | | |communications | | | +---------------------------+---------------------------+-------------+--------+ |Rivington Street Holdings |Network security software |17 |16 | +---------------------------+---------------------------+-------------+--------+ |Sarantel (AIM listed) |Antennas for mobile phones |556 |15 | +---------------------------+---------------------------+-------------+--------+ Planned Exit Shares Portfolio New investment: +-------------------+----------------------------+-----------------------+ | Name of Company | Business Activity | Amount Invested GBP'000 | +-------------------+----------------------------+-----------------------+ | Porchester Equity | Investment Holding Company | 625 | +-------------------+----------------------------+-----------------------+ Investment disposals: None
10/12/2011
11:35
damanko: To any holders still left out there.... (and what a quiet bunch we are...). Note the recent hike in the share price, presumably due to the following: Foresight Group sells APP-DNA for US$92m - Generating 32x return for its its investors 26/10/2011 •UK software success, App-DNA, attracts a US$92m bid from NASDAQ-listed Citrix Systems •Leading SME investor Foresight Group's investment of £750k on behalf of Foresight VCT and Income & Growth VCT to generate up to £25m •Foresight VCT to achieve stellar returns for investors (32x, representing a 240% IRR) on sale of its portfolio company App-DNA to Citrix Systems Foresight Group has reached conditional agreement for the sale of App-DNA Group Limited (App-DNA) to Citrix Systems Inc. (NASDAQ: CTXS), which is acquiring all of the equity in App-DNA for a total consideration of $92m (£57.6m), subject to completion adjustments. It is expected that completion will occur during November 2011, once certain administrative conditions have been fulfilled. Foresight invested £771k in the company, on behalf of the Foresight VCT and The Income & Growth VCT. The acquisition by Citrix will return up to £25m in aggregate to the two funds, representing a return of 32x the original investment. App-DNA, which was spun out of Foresight portfolio company Camwood in 2010, has become the leading specialist in Application Migration and Compatibility Software including App-DNA™ and AppTitude™ which it distributes to blue chip companies around the world. The company has created 80 jobs since the investment by Foresight and has offices in London, Chicago, Sydney and Paris. Russell Healey, a Partner at Foresight Group, commented: "The App-DNA team has done an incredible job in taking the company from its spin-out from Camwood and developing it into the global leader in its field. App-DNA is typical of the growth capital investments Foresight makes in UK SMEs; an exceptional management team, profitable, high growth, a large global market and a sustainable competitive advantage." "This transaction highlights the role that VCTs play in funding UK SMEs, and in particular in providing growth capital at a time when traditional bank funding is scarce. Foresight is one of the leading investors in UK SMEs, with an investment team of eight professionals and investments in over 50 companies across a wide range of sectors thoughout the UK." App-DNA was one of four companies in the Foresight portfolio that were recently profiled in the Sunday Times Tech Track 100 supplement. Have contacted the group regarding the possibility of a special dividend being paid. Anyone interested still out there? Latest accounts (before the sale of APP DNA to Citrix Systems) shows APP DNA on the books at a cost of £173,212.00 and a valuation of £4,554,321.00. This was dated 30th June 2011.
28/1/2011
10:40
damanko: From today's RNS (28/01/2011) - if anyone is still interested in this VCT / thread.......: Ordinary Share Reconstruction Following the issue of New Shares to Keydata VCTs Shareholders pursuant to the Scheme Foresight VCT intends to reconstruct its Ordinary Share capital so that the net asset value per Ordinary Share will be, as nearly as practicable, 100 pence per share. This will be done by the ratable redesignation of a proportion of the Ordinary Shares then in issue as nominally valued Deferred Shares and their subsequent off-market repurchase by Foresight VCT for a nominal consideration of one pence in aggregate. The purpose of the Ordinary Share Reconstruction is to make the Ordinary Shares more attractive to potential new investors should Foresight VCT decide to raise further capital in the future by the issue of new Ordinary Shares. A copy of the contract for this off-market purchase of Deferred Shares may be inspected at the registered office of Foresight VCT for the period of 15 days prior to the Foresight EGM and at the meeting itself. The Deferred Shares will only have a nominal value because, as a class, the Deferred Shares will have restricted dividend rights, will not carry any rights to receive notice of, or to attend or vote at EGMss, will on a winding up be entitled only to 1p for every 1,000,000 Deferred Shares (with no further right to participate in any surplus assets of Foresight VCT), and will be capable of being purchased by Foresight VCT at any time for an aggregate consideration of 1p. If resolution number 2 to be proposed at the Foresight EGM is passed the Directors will be authorised to enter into an off-market contract to purchase all the issued Deferred Shares for an aggregate amount of 1p for all of the Deferred Shares and Foresight VCT's net asset value will increase to 100p per Ordinary Share. Shareholders do not need to take any action following the Foresight EGM.
01/9/2010
09:47
damanko: This comment on the proposed "Merger" from Citywire: Investors in the Keydata Income VCTs 1 and 2 will initially receive shares in Foresight VCT worth less than their original holdings under the terms of the merger between the three funds. The boards of the three VCTs have agreed terms for the merger that will see Keydata investors receiving shares in Foresight based only on the physical valuation of the funds' renewable energy assets, mainly equipment held in storage and cash. 'As a consequence of the exclusion of the future operational value of these assets, this physical valuation will be significantly lower than the last announced net asset value (NAV) of the shares of the Keydata VCTs,' read a statement issued by the VCTs. However, investors will be entitled to a deferred consideration in three years' time that could take account of the future value of the assets produced when they are generating electricity. 'It is anticipated that, if the plant is operationally successful, the value of the deferred consideration will compensate Keydata shareholders for the difference between the physical valuation of the assets at the time of merger and the NAV of their shares in Keydata VCTs at the time (minus costs).' Asset manager Foresight Group has secured £3 million to fund the development of the Keydata VCT assets. The boards of the Keydata VCTs 1 and 2 announced in May that they were to merge with the Foresight VCT. The Keydata VCTs are separate legal entities to Keydata Investment Services and so were not hit by its administration last year.
24/9/2003
16:40
jmillskeel: here you go, Foresight Technology VCT PLC 22 September 2003 Foresight Technology VCT plc Offer for Subscription of up to 1,101,646 new Ordinary Shares together with 3,304,938 new 'C' Ordinary Shares being offered in packages consisting of one new Ordinary Share and three new 'C' Shares ('New Shares'). The Company announces that it is posting to shareholders details of an offer for subscription. The New Shares being offered are in packages consisting of 1 new Ordinary Share together with 3 new 'C' Shares. The price at which each package is being offered is calculated by reference to the last published unaudited net asset values of each Ordinary Share and 'C' Share plus 5.5 per cent. to cover the issue costs. The net asset value of each Ordinary Share and 'C' Share on 18 September 2003 was 142.37p and 68.77p respectively making the subscription cost of each package £368.97. Based on these net asset values the Company will raise, upon full subscription, approximately £3.8llion, net of expenses. The Board believes that raising additional capital should enable Foresight to: • take advantage of the encouraging investment opportunities currently under review and should provide shareholders with a greater spread of risk from a larger and more diverse portfolio of technology investments in each fund; • spread administrative costs across a larger capital base; and • make second round 'follow on' investments in existing portfolio companies when attractive investment opportunities arise. Current Trading and Prospects The Directors continue to be pleased with the overall progress made by the investments in the Ordinary Shares fund and in particular with investments in Telecom Plus plc and in Advanced Composites Group Limited. On 8 July 40% of the Company's holding in Telecom Plus Plc sold, realising a profit of £900,000 above the average cost of those shares. Advanced Composites Group Limited is currently considering exit opportunities including a flotation. In addition there has been an increase in the share price of YooMedia Plc. The companies in the 'C' Shares fund have been held for a shorter time than those in the Ordinary Shares fund. Whilst there have not yet been any realisations from this fund, Broadreach Networks Limited, Oxonica Limited and themutual.net Plc are all making good progress. As a result of the new BVCA guidelines, the most significant effect of which is an uplift in the value of Advanced Composites Group Limited, the net asset value of the Ordinary Shares has increased significantly from the 30 June 2003 valuation. Save as above, there have been no significant changes to the Company's trading or financial position since 30 June 2003. Terms of the Offer Investors are invited to subscribe a lump sum amount for packages of New Shares. On the basis of the net asset values as at 18 September 2003, the net amount to be raised, assuming full subscription, would be approximately £3.8 million. Net asset values will be published as soon as possible following a month end or more frequently if, in the Directors' opinion, there is a significant movement in the net asset value of each fund. Allotments of New Shares will be made on a weekly basis other than at the beginning of the month when allotments will be made as soon as the month end net asset value is available. Shareholders will be given prority under the Offer and will have until 13 October to submit their application forms. After this date New Shares are being offered on a wider basis. Applications will be treated on a first come, first served basis subject to a minimum subscription amount of £2,500. The capital raised by the issue of new Ordinary Shares will be pooled with existing Ordinary Shares fund and the capital raised by the issue of new 'C' Shares will be pooled with existing 'C' Shares fund. The new Ordinary Shares and the new 'C' Shares will rank pari passu with the existing Ordinary Shares and 'C ' Shares respectively, except that the new Ordinary Shares will not rank for the Ordinary Share special dividend and the new 'C' Shares will not rank for the interim 'C' Share dividend both announced on 28 August 2003. The Offer will remain open until 30 April 2004, unless fully subscribed at an earlier date. Application will be made for the New Shares to be listed on the London Stock Exchange. This information is provided by RNS The company news service from the London Stock Exchange
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