Downing Plan Exit 3 Downing Planned Exit Vct 3 Plc : Interim Management Statement
June 19 2013 - 11:48AM
UK Regulatory
TIDMDP3C
Downing Planned Exit VCT 3 plc
Interim Management Statement
for the quarter ended 30 April 2013
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of
the UK Listing Authority, Downing Planned Exit VCT 3 plc presents an
Interim Management Statement for the quarter period ended 30 April 2013.
The statement also includes relevant financial information between the
end of the period and the date of this statement.
Dividends paid or declared in the period
On 24 May 2013, the Company declared a final dividend of 2.5p per 'C'
Share, 2.5p per 'D' Share and 2.5p per 'F' Share payable, subject to
Shareholder approval, on 19 July 2013 to Shareholders on the register at
28 June 2013.
Performance
'C' Share Pool
Unaudited Audited Unaudited Unaudited
30 Apr 2013 31 Jan 2013 31 Oct 2012 31 Jul 2012
Pence Pence Pence Pence
NAV per 'C' Share 95.2 94.7 92.4 90.8
NAV per 'A' Share 0.1 0.1 0.1 0.1
Cumulative
distributions per 'C'
Share 17.5 17.5 15.0 15.0
Total Return per 'C'
Share and 'A' Share* 112.8 112.3 107.5 105.9
'D' Share Pool
Unaudited Audited Unaudited Unaudited
30 Apr 2013 31 Jan 2013 31 Oct 2012 31 Jul 2012
Pence Pence Pence Pence
NAV per 'D' Share 80.1 79.7 81.0 80.3
NAV per 'E' Share 0.1 0.1 0.1 0.1
Cumulative
distributions per 'D'
Share 12.5 12.5 10.0 10.0
Total Return per 'D'
Share and 'E' Share* 92.7 92.3 91.1 90.4
'F' Share Pool
Unaudited Audited Unaudited Unaudited
30 Apr 2013 31 Jan 2013 31 Oct 2012 31 Jul 2012
Pence Pence Pence Pence
NAV per 'F' Share 88.5 88.5 94.6 94.4
Cumulative
distributions per 'F'
Share 5.0 5.0 - -
Total Return per 'F'
Share* 93.5 93.5 94.6 94.4
* NAV plus cumulative dividends paid to date
Investment portfolio summary at 30 April 2013
Portfolio investments by value
'C' Share pool
Movement
from
1 Feb 2013 to
Cost Valuation 30 Apr 2013
GBP'000 GBP'000 GBP'000
Qualifying venture capital investments
Bijou Wedding Venues Limited 815 901 -
Atlantic Dogstar Limited 438 728 -
Future Biogas (SF) Limited 627 703 -
Domestic Solar Limited 500 560 -
Redmed Limited* 411 516 -
Westow House Limited 304 418 -
East Dulwich Tavern Limited 344 385 -
Quadrate Spa Limited* 363 363 -
Quadrate Catering Limited 330 330 -
Ecossol Limited 250 213 -
The 3D Pub Co Limited 267 187 -
Mosaic Spa and Health Clubs Limited* 125 125 -
Chapel Street Food and Beverage Limited 50 50 -
Chapel Street Services Limited 50 50 -
4,874 5,529 -
Non qualifying venture capital investments
Hoole Hall Country Club Holdings Ltd 581 581 -
The Thames Club Limited 500 500 -
Honeycombe Pubs VCT Limited 175 87 -
Vermont Developments Limited 25 25 -
Chapel Street Hotel Limited 2 2 -
1,283 1,195 -
Total 6,157 6,724 -
*partially qualifying investment
'D' Share pool
Movement
from
1 Feb 2013 to
Cost Valuation 30 Apr 2013
GBP'000 GBP'000 GBP'000
Qualifying venture capital investments
Future Biogas (Reepham Road) Limited 748 748 -
Quadrate Spa Limited* 496 496 -
Mosaic Spa and Health Clubs Limited* 475 475 -
Liverpool Nurseries (Holdings) Limited* 467 467 -
Domestic Solar Limited 400 448 -
Quadrate Catering Limited 441 441 -
Alpha Schools Holdings Limited 367 381 -
Kidspace Adventures Holdings Limited* 375 375 -
Green Electricity Generation Limited 250 257 -
West Tower Property Limited 250 250 -
Westcountry Solar Solutions Limited 250 250 -
Ecossol Limited 250 212 -
Avon Solar Energy Limited 210 210 -
Slopingtactic Limited 196 196 -
Progressive Energies Limited 170 170 -
Ridgeway Pub Company Limited 136 126 -
Camandale Limited* 516 81
5,997 5,583 -
Non qualifying venture capital investments
Aminghurst Limited 2,150 2,150 -
Fenkle Street LLP 122 122 -
Commercial Street Hotel Limited 100 100 -
Kilmarnock Monkey Bar Limited 42 42 -
2,414 2,414 -
Total 8,411 7,997 -
*partially qualifying investment
'F' Share pool
Movement
from
1 Feb 2013 to
Cost Valuation 30 Apr 2013
GBP'000 GBP'000 GBP'000
Qualifying venture capital investments
Tor Solar PV Limited 680 680 -
Vulcan Renewables Limited 560 560 -
City Falkirk Limited* 422 340 -
Fubar Stirling Limited 268 268 -
Fresh Green Power Limited 200 200 -
Pabulum Pubs Limited 200 200 -
Green Energy Production UK Limited 100 100 -
Cheers Dumbarton Limited 48 48 -
Lochrise Limited 13 - -
2,491 2,396 -
Non qualifying venture capital investments
Aminghurst Limited 1,110 1,110 -
Baron House Developments LLP 481 481 -
Southampton Hotel Developments Limited 300 300 -
West Tower Holdings Limited 224 224
Hoole Hall Hotel Limited 265 265
Kidspace Adventure Holdings Limited 250 250 -
Retallack Limited 250 250 -
Dominions House LLP 107 107 -
3D Pub Co Limited 55 55 -
3,042 3,042 -
Total 5,533 5,438 -
*partially non-qualifying investment
Investment additions and disposals
The 'C' Share, 'D' Share and 'F' Share pool additions and disposals are
summarised as follows:
'D' Share investment additions during the 3 months ended 30 April 2013
Cost
GBP'000
Kilmarnock Monkey Bar Limited 42
'F' Share investment additions during the 3 months ended 30 April 2013
Cost
GBP'000
Pabulum Pubs Limited 200
Dominions House LLP 107
307
There were no additions made by the 'C' Share pools during the three
months to 30 April 2013.
Investment disposals during the 3 months ended 30 April 2013
Market Total
value at Gain realised
1 Feb Disposal against gain in
Cost 2013 proceeds cost period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
'C' Share pool
Redmed Limited 18 18 18 - -
'D' Share pool
Camandale Limited 45 32 32 (13) -
Avon Solar Energy Limited 40 40 40 - -
'F' Share pool
Clareville St LLP 500 500 500 - -
Baron House Developments
LLP 144 144 144 - -
West Tower Holdings
Limited 66 66 66 - -
813 800 800 (13) -
Between 1 May 2013 and the date of this announcement the following
investments were made:
'D' Share pool
Cost
Qualifying venture capital investments GBP'000
Future Biogas (Reepham Road) Limited 94
'F' Share pool
Cost
Qualifying venture capital investments GBP'000
Redmed Limited 250
Augusta Pub Company Limited 100
350
Between 1 May 2013 and the date of this announcement no 'C' Share pool
investments were made.
'D' Share pool investment disposals between 1 May 2013 and the date of
this announcement:
Market Total
value at Gain realised
1 Feb Disposal against gain in
Cost 2013 proceeds cost period
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Aminghurst Limited 500 500 500 - -
Between 1 May 2013 and the date of this announcement no 'C' Share pool
or 'F' Share pool investment disposals were made.
Changes to share capital
Share capital movements in the period are summarised as follows:
'C' Shares of 0.1p each 'A' Shares of 0.1p each
Shares GBP'000 Shares GBP'000
As at 1 February 2013 7,158,326 7 10,750,064 11
Shares issued - - - -
Shares bought back and
cancelled - - - -
As at 30 April 2013 7,158,326 7 10,750,064 11
'D' Shares of 0.1p each 'E' Shares of 0.1p each
Shares GBP'000 Shares GBP'000
As at 1 February 2013 9,994,109 10 14,994,862 15
Shares issued - - - -
Shares bought back and
cancelled - - - -
As at 30 April 2013 9,994,109 10 14,994,862 15
'F' Shares of 0.1p each
Shares GBP'000
As at 1 February 2013 10,821,660 11
Shares issued - -
Shares bought back and cancelled - -
As at 30 April 2013 10,821,660 11
Material events
Other than described above, there were no material events during the
period from 1 February 2013 to 30 April 2013 or in the period from 1 May
2013 to the date of this announcement.
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.
Source: Downing Planned Exit VCT 3 PLC via Thomson Reuters ONE
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