Downing Plan Exit 3 Downing Planned Exit Vct 3 Plc : Interim Management Statement
December 17 2013 - 5:28AM
UK Regulatory
TIDMDP3C
Downing Planned Exit VCT 3 plc
(Now renamed Downing THREE VCT plc)
Interim Management Statement
for the quarter ended 31 October 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 ended 31 October 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 27 November 2013, the Company paid an interim dividend of 2.5p per
'C' Share, 2.5p per 'D' Share, and 2.5p per 'F' Share.
Performance
'C' Share Pool
Unaudited Unaudited Unaudited Audited
31 Oct 2013 31 Jul 2013 30 Apr 2013 31 Jan 2013
Pence Pence Pence Pence
NAV per 'C' Share 93.3 93.1 95.2 94.7
NAV per 'A' Share 0.1 0.1 0.1 0.1
Cumulative
distributions per 'C'
Share 20.0 20.0 17.5 17.5
Total Return per 'C'
Share and 'A' Share* 113.4 113.2 112.8 112.3
'D' Share Pool
Unaudited Unaudited Unaudited Audited
31 Oct 2013 31 Jul 2013 30 Apr 2013 31 Jan 2013
Pence Pence Pence Pence
NAV per 'D' Share 79.9 79.0 80.1 79.7
NAV per 'E' Share 0.1 0.1 0.1 0.1
Cumulative
distributions per 'D'
Share 15.0 15.0 12.5 12.5
Total Return per 'D'
Share and 'E' Share* 95.0 94.1 92.7 92.3
'F' Share Pool
Unaudited Unaudited Unaudited Audited
31 Oct 2013 31 Jul 2013 30 Apr 2013 31 Jan 2013
Pence Pence Pence Pence
NAV per 'F' Share 82.7 83.9 88.5 88.5
Cumulative
distributions per 'F'
Share 7.5 7.5 5.0 5.0
Total Return per 'F'
Share* 90.2 91.4 93.5 93.5
* NAV plus cumulative dividends paid to date
Investment portfolio summary at 31 October 2013
Portfolio investments by value
'C' Share pool
Movement
from
1 Aug 2013 to
Cost Valuation 31 Oct 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 627 661 (42)
Domestic Solar Limited 500 560 -
Redmed Limited 350 451 -
Westow House Limited 304 427 9
East Dulwich Tavern Limited 344 402 6
Quadrate Spa Limited* 363 395 32
Quadrate Catering Limited 330 354 (5)
Ecossol Limited 250 212 -
The 3D Pub Co Limited 267 187 -
Mosaic Spa and Health Clubs Limited* 125 117 (8)
Chapel Street Food and Beverage Limited 50 13 (13)
Chapel Street Services Limited 50 13 (13)
4,813 5,421 (34)
Non qualifying venture capital investments
Hoole Hall Country Club Holdings Ltd 581 581 -
The Thames Club Limited 500 500 -
Honeycombe Pubs VCT Limited 188 65 -
Vermont Developments Limited 25 25 -
Chapel Street Hotel Limited 2 1 -
1,296 1,172 -
Total 6,109 6,593 (34)
*partially qualifying investment
'D' Share pool
Movement
from
1 Aug 2013 to
Cost Valuation 31 Oct 2013
GBP'000 GBP'000 GBP'000
Qualifying venture capital investments
Future Biogas (Reepham Road) Limited 842 842 -
Quadrate Spa Limited* 496 539 43
Quadrate Catering Limited 441 475 (6)
Mosaic Spa and Health Clubs Limited* 475 441 (34)
Domestic Solar Limited 400 448 -
Liverpool Nurseries (Holdings) Limited* 435 400 -
Kidspace Adventures Holdings Limited* 375 409 17
Alpha Schools Holdings Limited 367 402 13
Green Electricity Generation Limited 250 288 19
West Tower Property Limited 250 250 -
Westcountry Solar Solutions Limited 250 250 -
Avon Solar Energy Limited 210 218 -
Ecossol Limited 250 212 -
Slopingtactic Limited 196 196 -
Progressive Energies Limited 170 170 -
Ridgeway Pub Company Limited 128 117 -
Camandale Limited* 516 57 -
6,051 5,714 52
Non qualifying venture capital investments
Aminghurst Limited 1,650 1,650 -
Fenkle Street LLP 122 122 -
Commercial Street Hotel Limited 100 100 -
Kilmarnock Monkey Bar Limited 42 42 -
1,914 1,914 -
Total 7,965 7,628 52
*partially qualifying investment
'F' Share pool
Movement
from
1 Aug 2013 to
Cost Valuation 31 Oct 2013
GBP'000 GBP'000 GBP'000
Qualifying venture capital investments
Tor Solar PV Limited 680 680 -
Pearce and Saunders Limited* 644 644 -
Vulcan Renewables Limited 560 560 -
Redmed Limited* 311 311 -
Augusta Pub Company Limited* 290 290 -
Fubar Stirling Limited 268 268 -
Kidspace Adventure Holdings Limited 250 273 12
City Falkirk Limited 421 244 -
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 - -
3,985 3,818 12
Non qualifying venture capital investments
Aminghurst Limited 1,110 1,110 -
Pub People Limited 500 500 -
Baron House Developments LLP 481 481 -
Hoole Hall Hotel Limited 265 265 -
Retallack Limited 163 163 -
Southampton Hotel Developments Limited 300 - (150)
Dominions House LLP 107 107 -
3D Pub Co Limited 55 55 -
2,981 2,681 (150)
Total 6,966 6,499 (138)
*partially non-qualifying investment
Investment additions and disposals
The 'C' Share, 'D' Share and 'F' Share pool additions and disposals are
summarised as follows:
'C' Share investment additions during the 3 months ended 31 October 2013
Cost
GBP'000
Honeycombe Pubs VCT Limited 13
'F' Share investment additions during the 3 months ended 31 October 2013
Cost
GBP'000
Augusta Pub Company Limited 190
Pearce and Saunders Limited 644
834
There were no additions made by the 'D' Share pools during the three
months to 31 October 2013.
Investment disposals during the 3 months ended 31 October 2013
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
'D' Share pool
Ridgeway Pub Company
Limited 3 3 3 - -
'F' Share pool
Retallack Limited 98 98 98 - -
101 101 101 - -
There were no disposals made by the 'C' Share pool during the three
months to 31 October 2013
Between 1 November 2013 and the date of this announcement no investments
were made by either Share pool.
Between 1 November 2013 and the date of this announcement the 'C' Share
pool made the following disposals:
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
Bijou Wedding Venues
Limited 815 901 925 110 24
815 901 925 110 24
Between 1 November 2013 and the date of this announcement no 'D' or 'F'
Share pool 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 August 2013 7,158,326 7 10,750,064 11
Shares issued - - - -
Shares bought back and
cancelled - - - -
As at 31 October 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 August 2013 9,979,109 10 14,994,862 15
Shares issued - - - -
Shares bought back and
cancelled - - - -
As at 31 October 2013 9,979,109 10 14,994,862 15
'F' Shares of 0.1p each
Shares GBP'000
As at 1 August 2013 10,821,660 11
Shares issued - -
Shares bought back and cancelled - -
As at 31 October 2013 10,821,660 11
Material events
On 16 December 2013, the Company changed its name to Downing THREE VCT
plc and its year end to 31 December.
On the same date, Hugh Gillespie resigned as a non-executive director
and chairman of the Company. Michael Robinson was appointed as chairman
and Roger Jeynes was appointed as a new non-executive director.
Other than described above, there were no material events during the
period from 1 August 2013 to 31 October 2013 or in the period from 1
November 2013 to the date of this announcement.
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Downing Planned Exit VCT 3 PLC via Globenewswire
HUG#1750432
Downing Three C (LSE:DP3C)
Historical Stock Chart
From Oct 2024 to Nov 2024
Downing Three C (LSE:DP3C)
Historical Stock Chart
From Nov 2023 to Nov 2024
