IE1C Ingenious 1 C

 
TIDMIE1C 
 
 

  Ingenious Entertainment VCT 1 plc ("the Company") 

  Interim Management Statement 

  For the period 1 January 2010 to 13 May 2010 

  INVESTMENT ACTIVITIES & PERFORMANCE 

  The Company has continued to actively source and review a number of investment opportunities jointly with Ingenious Entertainment VCT 2 plc (together "the Entertainment VCTs"). 

  XOYO 

  In March 2010, the Entertainment VCTs invested GBP800,000, to co-promote events at a new venue XOYO in Shoreditch, London. This investment is the first co-investment across the Ordinary Share funds (GBP630,000) and the C Share funds (GBP170,000) for the Entertainment VCTs. 

  Scheduled to open in July 2010, once complete, XOYO will not only operate as a bar, but will also be home to an aspirational media/arts space functioning as a pop-up gallery, displaying culturally relevant, yet commercially attractive work, from illustration through to graphics, photography and fine art. 

  It will also be a live entertainment venue that will book, promote and host a broad and diverse range of live music, club nights, visual art and other creative media events. XOYO will also be used for daytime and evening corporate events, stand-up comedy routines as well as other performances. 

  With a capacity of 900, XOYO is a space of over 7,600 square feet located in a prime area of Shoreditch. The venue is split over two floors and will have the décor and feel of a New York style loft and it is believed that this investment has strong potential to generate returns from both event profitability and capital value appreciation. 

  LET'S DANCE 

  The second season of Let's Dance built upon the success of series one by attracting in excess of seven million viewers on a regular basis. Agreement in principle has been reached with an Australian broadcaster to develop the show in that territory. Let's Dance is an Ordinary Share fund investment. 

  NON-QUALIFYING INVESTMENTS 

  Currently, GBP9.5 million of the remaining proceeds raised by the Company under its Ordinary Share offer, the C Share offer and the D Share offer (see below) is invested by the Manager in a number of cash funds (OEICs) in accordance with the Investment Policy of the Company. Such investments have been made while the majority of those funds await investment in suitable VCT qualifying investments. 

  ALLOTMENT OF D SHARES 

  In November 2009, the Entertainment VCTs launched a D Share Offer to create a further pool of capital. As at 5 April 2010 the Entertainment VCTs had each allotted 5,852,814 D shares. The Offer has been extended to 3pm on 30 July 2010 or such earlier date on which the directors of the Entertainment VCTs may resolve to close the Offer. 

 
NET ASSET VALUE 
                             Ordinary Shares 
                             31 March 2010  31 December 2009 
Net assets attributable to   9,498          9,555 
shareholders (GBP'000) 
Shares in issue (number)     10,205,011     10,205,011 
                             'C' Shares 
                             31 March 2010  31 December 2009 
Net assets attributable to   2,564          2,580 
shareholders (GBP'000) 
Shares in issue (number)     2,810,596      2,810,596 
                             'D' Shares 
                             5 April 2010   31 December 2009 
Net assets attributable to   5,511          - 
shareholders (GBP'000) 
Shares in issue (number)     5,852,814      - 
 
 

  A copy of this interim management statement can be obtained from the following websites: www.londonstockexchange.com 

  www.ingeniousvcts.co.uk 

 
Enquiries to 
Sarah Cruickshank 
Company Secretary 
Ingenious Entertainment VCT 1 plc 
15 Golden Square 
London 
W1F 9JG 
 
 

  0207 319 4000 

Ingenious 1 C (LSE:IE1C)
Historical Stock Chart
From Jun 2024 to Jul 2024

Ingenious 1 C (LSE:IE1C)
Historical Stock Chart
From Jul 2023 to Jul 2024