Triple Point VCT 2011 PLC Interim Management Statement (3023C)

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RNS Number : 3023C

Triple Point VCT 2011 PLC

18 January 2018

Triple Point VCT 2011 plc

LEI: 213800AOOAQA5XQDEA89

18 January 2018

Interim Management Statement for the quarter ended 30 November 2017

Highlights

The Company

The Company's funds at 30 November 2017 were 97% 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.

Ordinary Share Class

-- The Net Asset Value ("NAV") at 30 November 2017 was 1.00p per share. On 16 January 2018 the Ordinary Shares were cancelled and the final distribution of 1.00p will be paid by 31 January 2018.

-- Taking the NAV and the total dividends of 114.05p paid at 30 November 2017, the return to investors was 115.05p per share.

A Share Class

   --      The Net Asset Value at 30 November 2017 was 103.48p per share. 

-- During the 9 month period to 30 November 2017 the A Share Class made a profit of 3.41p per share.

   --      The A Shares unquoted investment portfolio by sector at 30 November 2017: 
   Hydro Electric Power                              67% 
   SME Funding Hydro Electric Power       17% 
   SME Funding Other                               16% 

B Share Class

   --      The Net Asset Value at 30 November 2017 was 99.69p per share. 

-- During the 9 month period to 30 November 2017 the B Share Class made a loss of 0.07p per share.

-- The Company has invested in two companies that will construct and operate gas power plants. Both power plants are under construction and expected to be commissioned in Q1 2018.

   --      The B Shares unquoted investment portfolio by sector at 30 November 2017. 
   Gas Power                                            75% 
   SME Funding Other                              25% 

Net Assets at 30 November 2017:

 
                                              30-Nov-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                        0      6,335      5,100    11,435       191      6,335      5,100    11,626 
----------------------------  --------                                  -------- 
 VCT non qualifying 
  unquoted investments               0      3,175      1,686     4,861         5      3,467      1,686     5,158 
----------------------------  --------  ---------  ---------  --------  --------  ---------  ---------  -------- 
 Cash and cash equivalents         227        139         64       430     1,448         29         48     1,525 
---------------------------- 
 Total Investments                 227      9,649      6,850    16,726     1,644      9,831      6,834    18,309 
----------------------------  --------  ---------  ---------  --------  --------  ---------  ---------  -------- 
 Other assets & liabilities        -23        649        -47       579       660        525        -26     1,159 
---------------------------- 
 Net assets                        204     10,298      6,803    17,305     2,304     10,356      6,808    19,468 
                              --------  ---------  ---------  --------  --------  ---------  ---------  -------- 
 Net asset value per 
  share                           1.00     103.48      99.69       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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January 18, 2018 09:35 ET (14:35 GMT)