Foresight 3 VCT PLC Foresight 3 Vct Plc : Portfolio Update
December 03 2013 - 8:00AM
UK Regulatory
TIDMFTD
Foresight 3 VCT plc
Portfolio Update
Foresight 3 VCT PLC ("Foresight 3") announces the sale of its investment
in Alaric Systems Limited ("Alaric"), which provides payment processing
and fraud prevention software, to a subsidiary of NCR Corporation.
Foresight 3 has sold its investment of ordinary shares and loan stock in
Alaric for GBP3.75 million, of which GBP589k is held in escrow and in
the absence of any claims against Alaric should become payable in
tranches over the next four years. The carrying value of the investment
in Alaric in Foresight 3's unaudited half-yearly financial statements
for the six months ended 30 September 2013, published on 29 November
2013, was GBP3.36 million.
This represents a return of over five times original cost and over 9% of
the net asset value of Foresight 3 as at 30 September 2013.
Having regard to the improvement in the Company's liquidity, it is the
Board's intension to resume the payment of dividends in the New Year.
For further information please contact:
Gary Fraser, Foresight Group: 01732 471800
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: Foresight 3 VCT PLC via Globenewswire
HUG#1747380
http://www.foresightgroup.eu/
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