Foresight 3 VCT PLC Foresight 3 Vct Plc : Annual -8-
July 25 2014 - 8:17AM
UK Regulatory
March 2014, which were unqualified and did not contain and statements
under S498(2) of Companies Act 2006 or S498(3) of Companies Act 2006,
will be lodged with the Registrar of Companies. Statutory accounts for
the year ended 31 March 2014 including an unqualified audit report and
containing no statements under the Companies Act 2006 will be delivered
to the Registrar of Companies in due course.
3. Copies of the Annual Financial Report will be sent to shareholders
and will be available for inspection at the Registered Office of the
Company at The Shard, 32 London Bridge Street, London SE1 9SG and can be
accessed on the following website: www.foresightgroup.eu
4. Net asset value per Ordinary Share
Net asset value per Ordinary Share is based on net assets at the year
end of GBP38,031,000 (2013: GBP38,705,000), and on 51,226,401 Ordinary
Shares (2013: 51,471,765 Ordinary Shares), being the number of Ordinary
Shares in issue at that date.
5. Return per Ordinary Share
Year ended
31 March Year ended
2014 31 March 2013
GBP'000 GBP'000
Total return/(loss) after taxation 532 (1,134)
Basic return/(loss) per share (note a) 1.0p (2.3)p
Revenue return/(loss) from ordinary activities after
taxation 160 (238)
Revenue return/(loss) per share (note b) 0.3p (0.5)p
Capital return/(loss) from ordinary activities after
taxation 372 (896)
Capital return/(loss) per share (note c) 0.7p (1.8)p
Weighted average number of shares in issue in the
year 51,767,674 50,804,645
Notes:
a) Total return/(loss) per share is total return after taxation divided
by the weighted average number of shares in issue during the year.
b) Revenue return/(loss) per share is revenue return after taxation
divided by the weighted average number of shares in issue during the
year.
c) Capital return/(loss) per share is capital return after taxation
divided by the weighted average number of shares in issue during the
year.
6. Annual General Meeting
The Annual General Meeting will be held at 1.00pm on 16 September 2014
at the offices of Foresight Group, The Shard, 32 London Bridge Street,
London, SE1 9SG.
7. Income
Year ended Year ended
31 March 31 March
2014 2014
GBP'000 GBP'000
Loan stock interest 501 438
Dividend income 283 -
Bank deposits 2 -
Overseas based on Open Ended Investment Companies
("OEICs") 1 7
787 445
8. Investments held at fair value through profit or loss
Quoted Unquoted Total
GBP'000 GBP'000 GBP'000
Book cost as at 1 April 2013 3,668 40,514 44,182
Investment holding losses (2,570) (6,165) (8,735)
Valuation at 1 April 2013 1,098 34,349 35,447
Movements in the year:
Purchases at cost - 4,781 4,781
Disposal proceeds (566) (4,157) (4,723)
Realised (losses)/gains (554) *1,951 1,397
Investment holding gains/(losses) 262 (1,078) (816)
Valuation at 31 March 2014 240 35,846 36,086
Book cost at 31 March 2014 2,548 43,089 45,637
Investment holding losses (2,308) (7,243) (9,551)
Valuation at 31 March 2014 240 35,846 36,086
*Included within realised gains/(losses) on investments in the Income
Statement is GBP501,000 of deferred consideration in relation to the
Alaric Systems Limited sale in the year.
9. Transactions with the manager
Foresight Group, acting as investment manager to the Company in respect
of its venture capital investments, earned fees of GBP947,000 during the
year (2013: GBP983,000). Fees excluding VAT of GBP126,000 (2013:
GBP123,000) were received during the year for company secretarial,
administrative and custodian services to the Company.
At the balance sheet date, there was GBP317 due from Foresight Group
(2013: GBP24,755 due from Foresight Group) and GBPnil due to or from
Foresight Fund Managers Limited (2013: GBP2,000 due from Foresight Fund
Managers). No amounts have been written off in the year in respect of
debts due to or from the related parties.
Foresight Group also received from investee companies arrangement fees
of GBP25,472 (2013: GBP58,563). VCF partners, an associate of Foresight
Group, received from investee companies, Directors' fees of GBP175,287
(2013: GBP190,975).
10. Related party transactions
No Director has an interest in any contract to which the Company is a
party.
END
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#1838631
http://www.foresightgroup.eu/
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