Interim Management Statement
August 18 2010 - 12:43PM
UK Regulatory
TIDMDO1O
Downing Structured Opportunities VCT 1 plc
Interim Management Statement
for the three months ended 30 June 2010
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, Downing Structured Opportunities VCT 1 plc presents an
Interim Management Statement covering the period from 1 April 2010 to 30 June
2010. The statement also includes relevant financial information between the
end of the period and the date of this statement.
Performance
Ordinary Share Pool 31 July 2010 30 June 31 March 2010 30 June
2010 2009
Pence Pence Pence Pence
Net Asset Value per Ordinary Share 102.7 100.3 102.8 96.2
Net Asset Value per 'A' Share 0.1 0.1 0.1 0.1
Cumulative distributions per Ordinary 5.0 5.0 5.0 -
Share
Total return per Ordinary Share and 107.8 105.4 107.9 96.3
'A' Share
'B' Share Pool 31 July 2010 30 June 31 March 2010
2010
Pence Pence Pence
Net Asset Value per 'B' Share 92.1 88.9 94.7
Net Asset Value per 'C' Share 0.1 0.1 0.1
Cumulative distributions per 'B' Share - - -
Total return per 'B' Share and 'C' Share 92.2 89.0 94.8
Dividends paid or declared in the period
On 29 July 2010, the Company proposed to pay a final dividend in respect of the
period ended 31 March 2010 of 2.5p per Ordinary Share and 2.5p per 'B' Share
payable on 30 September 2010 to Shareholders on the register at 27 August 2010.
Investment portfolio summary at 30 June 2010
Ordinary Shares Valuation
movement
from
Cost Valuation 1 April 2010 to 30 June 2010
GBP'000 GBP'000 GBP'000
Structured Products
Symphony Structure 3.5 Year FTSE
4.85 Call Spread 710 798 (75)
Merrill Lynch (Elders) Japan
Capital Protected III 626 770 18
Morgan Stanley 6 Year Synthetic
Zero 450 573 (55)
Barclays 4 Year Synthetic Zero 570 567 (31)
Morgan Stanley FTSE Bonus Note (5Y) 501 484 (18)
Societe Generale Accept 6T FSTE
Auto Lock 501 465 (54)
Elders Capital Accumulator VIII
(29A) 485 460 (25)
Goldman Sachs Reservoir Auto-Call 401 434 (2)
Goldman Sachs Int Def Auto-Call 337 421 2
Platinum (Guernsey) 3 Year 351 378 1
Merrill Lynch (Elders) FTSE Capital
Accumulation II 259 319 (7)
Citigroup Defensive FTSE Auto-Call
1 130 138 (18)
Venture Capital
Bijou Wedding Venues Limited 1,415 1,415 -
Future Biogas Limited 1,190 1,190 -
East Dulwich Tavern Limited 459 459 -
Westow House Limited 405 405 -
Fenkle Street LLP 300 300 -
Atlantic Dogstar Limited 216 216 -
Chapel Street Food and Beverages
Limited 75 75 -
Chapel Street Services Limited 75 75 -
Chapel Street Hotel Limited 3 3 -
Total 9,459 9,945 (264)
'B' Shares Valuation
movement
from
Cost Valuation 1 April 2010 to 30 June 2010
GBP'000 GBP'000 GBP'000
Structured Products
Goldman Sachs 6YR Phoenix Autocall
1 653 627 (51)
Goldman Sachs 6YR Phoenix Autocall
2 451 424 (38)
Morgan Stanley 11% FTSE Bonus Note 502 448 (70)
Morgan Stanley 3YR Synthetic Zero 214 207 (17)
JP Morgan 8% Defensive FTSE
Autocall 661 634 (46)
Barclays 5Y Synthetic Zero 1,003 862 (140)
Barclays FTSE 100 Def 10.75%
Autocall 752 740 (12)
Elders Capital Accumulator VIII
(29A) 970 920 (51)
Goldman Sachs 6YR Phoenix Autocall
3 1,003 937 (66)
HSBC US trade Range 752 652 (100)
HSBC 5 Year 9% Defensive FTSE 100
Autocall 1,003 942 (61)
HSBC FTSE/S&P Worst Df AC Wts 1,003 931 (72)
JP Morgan 5Y 9.75% Defensive FTSE
Autocall 1,504 1,410 (94)
Morgan Stanley 3YR Synthetic Zero
Accrual 762 707 (55)
Morgan Stanley 5YR Synthetic Zero 811 745 (66)
Nomura 9.3% FTSE Def Autocall 1,504 1,461 (43)
Societe Generale FSTE/S&P
Defensive AutoLock 4 1,003 947 (56)
Venture Capital
Antelope Pub Limited 1,088 1,088 -
Fenkle Street LLP 800 800 -
Ridgeway Pub Co 154 154 -
Total 16,593 15,636 (1,038)
Investment activity during the three month period ended 30 June 2010
Ordinary Share Portfolio Investment addition Cost
GBP'000
Elders Capital Accumulator VIII (29A) 485
Morgan Stanley FTSE Bonus Note (5Y) 501
986
'B' Share Portfolio Investment addition Cost
GBP'000
Barclays 5Y Synthetic Zero 1,003
Barclays FTSE 100 Def 10.75% Autocall 752
Elders Capital Accumlator VIII (29A) 970
Goldman Sachs 6YR Phoenix Autocall 3 1,003
HSBC US trade Range 752
HSBC 5 Year 9% Defensive FTSE 100 Autocall 1,003
HSBC FTSE/S&P 'Worst of' Autocall 1,003
JP Morgan 5Y 9.75% Defensive FTSE Autocall 1,504
Morgan Stanley 3YR Synthetic Zero Accrual 762
Morgan Stanley 5YR Synthetic Zero 811
Nomura 9.3% FTSE Def Autocall 1,504
Societe Generale FSTE/S&P Defensive AutoLock 4 1,003
12,070
Ordinary Shares Portfolio Realised
Investment disposals Gain gain
Market value at Disposal against in the
Cost 1 April 2010 proceeds cost period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Barclays 12.2% Autocallable 859 1,036 1,057 198 21
Platinum 4 Year Defensive 656
Auto-Call 718 718 62 -
1,515 1,754 1,775 260 21
There were no 'B' Share portfolio investment disposals in the three month period
ended 30 June 2010.
Investment activity from 1 July 2010 to the date of this report
'B' Share Portfolio Investment addition Cost
GBP'000
Barclays 6Y 10% Def FTSE Autocall 1,003
1,003
Ordinary Shares Portfolio Market value at Realised
Investment disposals 1 April 2010 Gain gain
Disposal against in the
Cost proceeds cost period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Goldman Sachs Reservoir 437
Auto-Call 401 444 43 7
Goldman Sachs Int Def Auto-Call 337 419 427 90 8
Platinum (Guernsey) 3 Year 351 377 382 31 5
1,089 1,233 1,253 164 20
'B' Shares Portfolio Investment Market value at Realised
disposals 1 April 2010* Gain gain
Disposal against in the
Cost proceeds cost period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Barclays 6Y 10% Def FTSE 501
Autocall 501 505 4 4
501 501 505 4 4
*After adjusting for purchases in the period
There have been no other investment additions or disposals from 1 July 2010 to
the date of this announcement.
Changes to share capital
During the period from 1 April 2010 to 30 June 2010 three allotments have been
made pursuant to the Offers for Subscription that opened on 15 October 2009. On
1 April 2010 7,362,966 'B' shares of 1p each were issued at 99.9p per share and
7,362,966 'C' shares of 0.1p each were issued at 0.01p per share. On 5 April
2010 1,349,604 'B' shares of 0.1p each were issued at 99.9p per share and
1,349,604 'C' shares of 0.1p each were issued at 0.1p per share. On 26 April
2010 790,189 'B' shares of 0.1p each were issued at 99.9p per share and 790,189
'C' shares of 0.1p each were issued at 0.1p per share. The offer closed on 26
April 2010 being fully subscribed.
There have been no changes to the share capital during the period from 1 July
2010 to the date of this announcement.
Cancellation of share premium account
On 14 July 2010, the Company received Court approval to cancel the share premium
account in respect of the 'B' Shares with the balance thereon being transferred
to the special reserve.
Material events
Other than described above, there were no material events during the period from
1 April 2010 to 30 June 2010 or in the period from 1 July 2010 to the date of
this announcement.
[HUG#1438764]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: Downing Structured Opportunities VCT 1 PLC via Thomson Reuters ONE
Down. 4 Dso Ord (LSE:DO1O)
Historical Stock Chart
From Jun 2024 to Jul 2024
Down. 4 Dso Ord (LSE:DO1O)
Historical Stock Chart
From Jul 2023 to Jul 2024
