Interim Management Statement
May 29 2008 - 9:36AM
UK Regulatory
Interim Management Statement
Pennine AIM VCT plc
Interim Management Statement
for the three months ended 30 April 2008
In accordance with Rule 4.3 of the Disclosure and Transparency Rules
of the UK Listing Authority, Pennine AIM VCT plc presents an Interim
Management Statement for the three month period ended 30 April 2008.
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 28 May 2008, the Company declared final dividends for the year
ended 31 January 2008 as follows:
Ordinary Shares 3.0p per share
'D' Shares 1.0p per share
Subject to Shareholder approval, both dividends will be paid on 27
June 2008 to Shareholders on the register at 13 June 2008.
Performance
Ordinary shares
30 April 31 January 31 July 31 January 31 January
2008 2008 2007 2007 2006
Pence Pence Pence Pence Pence
Net Asset Value 54.2 54.7 70.7 67.6 71.4
("NAV")
Cumulative 85.1 85.1 85.1 82.1 79.1
Dividends
Total Return * 139.3 139.8 155.8 149.7 150.5
* (NAV plus cumulative dividends paid
since launch)
D Shares
30 April 2008 31 January 31 July
2008 2007
Pence Pence Pence
Net Asset Value ("NAV") 93.0 93.1 94.2
Cumulative Dividends - - -
Total Return* 93.0 93.1 94.2
* (NAV plus cumulative dividends paid since launch)
Investment portfolio summary at 30 April 2008
Ordinary share pool -Twenty largest investments by value
Valuation
movement
Cost Valuation in period
�'000 �'000 �'000
Connaught plc* 47 732 66
Aero Inventory plc 247 487 9
Spice plc 249 482 89
Synergy Healthcare plc 145 309 (9)
Cadbury House Limited** 289 289 -
Interserve plc* 101 289 38
FDM Group plc 200 244 (33)
Hill Station plc 498 234 (8)
Hoole Hall Country Club Ltd** 200 200 -
Neutrahealth plc 216 190 31
AT Communications plc 222 175 5
Pubs 'N' Bars plc 322 138 (26)
RFTRAQ Limited** 167 135 -
Supporta plc 302 124 (49)
Straight plc 179 121 38
Clerkenwell Ventures plc 175 117 -
Real Affinity plc 180 101 (1)
Colliers CRE plc 193 98 24
Huveaux plc 145 84 14
FSG Security plc 100 70 -
Other venture capital investments 3,954 730 (305)
Other investments 493 524 8
Total 8,624 5,873 (109)
* Main market
** Unquoted
All investments are quoted on AIM unless otherwise stated.
D share pool - All investments
Valuation
movement
Cost Valuation in period
Qualifying investments
Maelor plc 100 117 17
Animal Care Group plc 100 100 (2)
Cadbury House Limited ** 100 100 -
Plastics Capital plc 100 85 (10)
Clerkenwell Ventures plc 85 57 -
Tristel plc 62 57 (5)
Hoole Hall Country Club Limited ** 50 50 -
Ludorum plc 35 35 -
Non-qualifying investments: Protected plans
Barclays Capital Five Year FTSE 155% Note 531 532 8
Total 1,163 1,133 8
** Unquoted
Investment additions during the 3 months ended 30 April 2008
Total Ordinary 'D' Share
pool pool
�'000 �'000 �'000
Keycom plc 40 40 -
Hill Station plc 40 40 -
Maelor plc 100 - 100
Tristel plc 62 - 62
Close Allblue Fund Ltd 25 25 -
Goldman Sachs Dynamic Opps Ltd 25 25 -
Signet Global Fixed Income Strategies Ltd 20 20 -
Sundry additions 2 2
314 152 162
Between the 30 April 2008 and the date of this report, the following
investments have been made:
Total Ordinary 'D' Share
pool pool
�'000 �'000 �'000
FSG Security plc 100 - 100
Hill Station plc 27 27 -
Hoole Hall Limited 100 50 50
227 77 150
Investment disposals during the 3 months ended 30 April 2008
Ordinary share pool
Market
value at Total
1 February Disposal Gain/(loss) realised
Cost 2008 proceeds against cost gain
�'000 �'000 �'000 �'000 �'000
Connaught plc 10 125 131 121 6
Daniel Stewart
Securities plc 11 5 5 (6) -
Treasury 5% 2008
Stock 1,437 1,437 1,437 - -
1,458 1,567 1,573 115 6
'D' share pool
Market
value at Total
1 February Disposal Gain/(loss) realised
Cost 2008 proceeds against cost gain
�'000 �'000 �'000 �'000 �'000
Treasury 5% 2008
Stock 1,645 1,646 1,646 1 -
There were no disposals between the 30 April 2008 and the date of
this report.
Changes to share capital
Ordinary Shares of D Shares of
10p each 10p each
Shares Shares �'000 �'000
As at 31 January 2008 13,569,956 2,836,269 284 1,357
Shares allotted - - - -
Shares bought back and cancelled - - - -
As at 30 April 2008 13,569,956 2,836,269 284 1,357
Material events
Other than described above, there were no material events during the
period from 1 February 2008 to 30 April 2008 or in the period from 1
May 2008 to the date of this announcement.
- ---END OF MESSAGE---
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