Triple Point VCT 2011 Plc Interim Management Statement (0242L)

TIDMTPO

RNS Number : 0242L

Triple Point VCT 2011 Plc

13 July 2017

Triple Point VCT 2011 plc

13 July 2017

LEI: 213800AOOAQA5XQDEA89

Interim Management Statement for the quarter ended 31 May 2017

Highlights

The Company

The Company's funds at 31 May 2017 were 94% invested in a portfolio of VCT qualifying and non-qualifying unquoted investments. It continues to meet the condition that 70% of relevant funds must be invested in qualifying investments. At 31 May 2017 qualifying investments represented 66% of the total Investment Portfolio and 79% of the funds that are required to meet the 70% condition.

Ordinary Share Class

   --      The Net Asset Value ("NAV") at 31 May 2017 was 6.28p per share. 

-- Taking the NAV and the total dividends of 108.75p paid at 31 May 2017, the return to investors was 115.03p per share.

-- A further dividend of 2p per share was paid on 23 June 2017, leaving a residual NAV of 4.28p.

-- It is expected that the remaining assets will be realised by 31 August 2017 and a final dividend will be paid after the interim results are announced in October 2017, following which the shares will be cancelled.

   --      The Ordinary Share's unquoted investment portfolio by sector at 31 May 2017 is: 
   Cinema Digitisation                                97% 
   SME Funding - other                                 3% 

A Share Class

   --      The Net Asset Value at 31 May 2017 was 104.87p per share. 

-- On 23 June 2017 the Company paid its first dividend to the A Class Shareholders of 4p per share.

   --      A profit of 0.80p per share was made for the 3 month period to 31 May 2017. 
   --      The A Share's unquoted investment portfolio by sector at 31 May 2017 is: 
   Hydro Electric Power                              67% 
   SME Funding - hydro electric power        17% 
   SME Funding - other                              16% 

New B Share Class

   --      The Net Asset Value at 31 May 2017 was 99.73p per share. 

-- The Company has invested in two companies that will construct and operate gas power plants. Both companies reached financial close in May 2017 and their respective power plants are under construction.

   --      The B Share's unquoted investment portfolio by sector at 31 May 2017 is: 
   Gas Power                                            75% 
   SME Funding - other                             25% 

Net Assets at 31 May 2017:

 
                                         31-May-17                                 28-Feb-17 
                                         Unaudited                                  Audited 
                           Ord.                                      Ord. 
                           Shares   A Shares   B Shares    Total     Shares   A Shares   B Shares    Total 
-----------------------  --------  ---------  ---------  --------  --------  ---------  ---------  -------- 
                          GBP'000   GBP'000    GBP'000    GBP'000   GBP'000   GBP'000    GBP'000    GBP'000 
-----------------------  --------  ---------  ---------  --------  --------  ---------  ---------  -------- 
 VCT qualifying 
  unquoted investments        191      6,335      5,100    11,626       191      6,335      5,100    11,584 
-----------------------  --------                                  -------- 
 VCT non qualifying 
  unquoted investments          5      3,176      1,686     4,867         5      3,467      1,686     6,751 
-----------------------  --------  ---------  ---------  --------  --------  ---------  ---------  -------- 
 Cash and cash 
  equivalents                 673        414         50     1,137     1,448         29         48     4,808 
-----------------------                                                                            -------- 
 Total Investments            869      9,925      6,836    17,630     1,644      9,831      6,834    23,143 
-----------------------  --------  ---------  ---------  --------  --------  ---------  ---------  -------- 
 Other assets 
  & liabilities               410        511       (30)       891       660        525       (26)       910 
-----------------------                                                                            -------- 
 Net assets                 1,279     10,436      6,806    18,521     2,304     10,356      6,808    24,053 
                         --------  ---------  ---------  --------  --------  ---------  ---------  -------- 
 Net asset value 
  per share                  6.28     104.87      99.73       n/a     11.32     104.07      99.76       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 13, 2017 09:37 ET (13:37 GMT)