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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Thompson Clive | LSE:TCI | London | Ordinary Share | GB0008889056 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 63.11 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:5217I Thompson Clive Investments PLC 05 September 2006 Thompson Clive Investments plc Contact : Charles Fitzherbert, Director; Susan Thompson, Company Secretary Telephone : (020) 7535 4900 ________________________________________________ Chairman's Statement ________________________________________________ At 30 June 2006, the net asset value per share of Thompson Clive Investments plc ("TCI") was 297.2p, a decrease of 23.3% from the net asset value at 31 December 2005. Genitope Corporation, our largest holding, which is still undergoing clinical trials, represented almost #1m or 9.8% of the fall. At the end of July it was recommended that the phase III trials should be continued, the results of which will not be known before the end of 2007. The price fell further on release of this information. Two of the unquoted investments in the portfolio were written off, one in the US and one in France, representing a further #1.2m write down, as announced in May 2006. For the six months to 30 June 2006, TCI earned a net profit of #35,000 (2005: #123,000). These results should be seen in the light of TCI's continuing reduction in size, from total net assets of #11,890,000 at 30 June 2005 to #7,472,000 at 30 June 2006. TCI's dormant subsidiary, Thompson Clive Asset Management Limited, has now been liquidated. Following the policy adopted in previous years, the Directors do not recommend the payment of an interim dividend. There were no tender offers during the six months to 30 June 2006. Disposal proceeds totalling #319,000 were received from companies previously written off in line with TCI's conservative valuation policy. The largest of these was from The Terence Chapman Group which went into members' voluntary liquidation in 2002. It is understood from the liquidator that up to a further #134,000 may be payable in 2008/9. The portfolio now comprises 11 active companies and the Board is seeking realisation opportunities with the aim of maximising return to shareholders. Christopher Jones Chairman 5 September 2006 The interim report is being sent to shareholders and further copies are available from the Company's registered office. The results will not be advertised in any newspaper. UNAUDITED INTERIM REPORT For the six months to 30 June 2006 Summarised Statement of Total Return Six months Six months Year ended to 30 June to 30 June 31 December 2006 2005 2005 # 000 # 000 # 000 REVENUE RETURN Revenue 65 169 257 Management expenses allocated to revenue (30) (46) (80) ___ ___ ___ 35 123 177 Tax on ordinary activities allocated to revenue - (37) (42) ___ ___ ___ NET REVENUE RETURN AFTER TAX 35 86 135 ===== ===== ===== CAPITAL RETURN Realised gain/(loss) on investments - 1,104 (18) Amount received on investments previously written off 319 - - Unrealised appreciation/ (depreciation) (2,191) (1,780) (3,750) Management expenses allocated to capital (172) (260) (451) ______ ______ ______ (2,044) (936) (4,219) Tax on ordinary activities allocated to capital - 37 33 ______ ______ ______ NET CAPITAL RETURN AFTER TAX (2,044) (899) (4,186) ====== ===== ====== TOTAL RETURN AFTER TAX (2,009) (813) (4,051) ====== ===== ====== Return per ordinary share: Revenue 1.4p 3.4p 4.6p Capital (81.3p) (35.9p) (142.2p) Total (79.9p) (32.5p) (137.6p) The above information does not comprise the company's statutory accounts. The summarised financial information for the year ended 31 December 2005 is an extract from the published accounts which received an unqualified audit report and which have been delivered to the Registrar of Companies. UNAUDITED INTERIM REPORT For the six months to 30 June 2006 Summarised Balance Sheet 30 June 30 June 31 December 2006 2005* 2005 # 000 # 000 # 000 FIXED ASSETS Venture capital investments 4,317 9,143 6,449 Fixed interest investments 2,993 2,436 2,396 Subsidiary undertaking - 3,388 - _____ ______ _____ 7,310 14,967 8,845 CURRENT ASSETS Debtors 16 51 13 Cash at bank and in hand 175 299 936 _____ ______ _____ 191 350 949 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR (29) (3,427) (55) _____ ______ ____ NET CURRENT ASSETS 162 (3,077) 894 _____ ______ _____ TOTAL ASSETS LESS CURRENT LIABILITIES 7,472 11,890 9,739 ===== ===== ====== NET ASSETS 7,472 11,890 9,739 ===== ===== ====== CAPITAL AND RESERVES Called up share capital 25 25 25 Special reserve 25 25 25 Share premium account - - - Capital redemption reserve - - - Realised capital reserve 1,485 1,604 1,397 Unrealised capital reserve (2,274) 1,814 (142) Revenue reserve 8,211 8,422 8,434 ______ ______ ______ Total shareholders' funds attributable to equity shareholders 7,472 11,890 9,739 ===== ===== ====== Net asset value per share 297.2p 472.9p 387.3p *company only information presented for comparative purposes. This information is provided by RNS The company news service from the London Stock Exchange END IR SSAFIISMSESU
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