TIDMTPV1
RNS Number : 9054V
Triple Point Income VCT PLC
26 July 2018
LEI: 213800IXD8S5WY88L245
Triple Point Income VCT plc
26 July 2018
Interim Management Statement for the quarter ended 30 June
2018
Highlights
The Company
The Company continues to meet all VCT qualifying conditions in
respect of its portfolio of VCT unquoted qualifying investments and
unquoted and quoted non-qualifying investments.
Ordinary Share Class
-- The Net Asset Value ("NAV") at 30 June 2018 was 65.83p per share.
-- During the three month period to 30 June 2018 the Ordinary
Share Class made a profit of 0.09p per share.
-- On 1 April 2018 the Ordinary Share Class transferred its
investments in eight companies, across five sectors, to the E Share
Class at the valuations in the audited financial statements to 31
March 2018. The transfer is in line with the Company's strategy to
realise Ordinary Share Class investments and return funds as soon
as practicable after the end of the 5 year holding period which was
on 15 May 2018. The VCT retains an investment in Green Energy for
Education Limited, which owns and operates a portfolio of Solar PV
assets, in its Ordinary Share Class and will look to realise this
later in 2018.
-- On 26 July 2018 a dividend was paid to the Ordinary Class
Shareholders of 60.74p per share bringing total dividends paid to
Ordinary Class Shareholders to 93.8p per share. This compares to a
minimum target return of 90.4p per share.
-- It is the intention to pay a final dividend later this year
and cancel the Ordinary Shares by the end of the Company's
financial year ending 31 March 2019.
C Share Class
-- The NAV at 30 June 2018 was 116.30p per share.
-- During the three month period to 30 June 2018 the C Share
Class made a profit of 3.46p per share. This includes a dividend
from one of its investments in the hydro electric power sector for
GBP393,000, equivalent to 2.9p per share.
-- 100% of the C Share Class investments are in the
hydro-electric power sector, in line with the investment
strategy.
-- On 26 July 2018 a dividend of 5p per share was paid bringing
total dividends to the C Class Shareholders to 15p per share.
-- The chart below shows the C Share Class investment portfolio by sector at 30 June 2018:
Hydro Electric Power - 80%
SME Funding - Hydro Electric Power - 20%
D Share Class
-- The NAV at 30 June 2018 was 108.94p per share.
-- During the three month period to 30 June 2018 the D Share
Class made a profit of 0.96p per share.
-- 94% of the D Share investments are in the Hydro Electric
Power sector, in line with the investment strategy.
-- On 26 July 2018 a dividend of 5p per share was paid bringing
total dividends to the D Class Shareholders to 10p per share.
-- The chart below shows the D Share Class investment portfolio by sector at 30 June 2018:
Hydro Electric Power - 85%
SME Funding - Hydro Electric Power - 9%
SME Funding - Other - 6%
E Share Class
-- The NAV at 30 June 2018 was 99.21p per share.
-- During the three month period to 30 June 2018 the E Share
Class made a profit of 0.89p per share.
-- During the period the E Share Class acquired a portfolio of
Qualifying and Non-Qualifying Investments in eight companies from
the Ordinary Share Class. The portfolio comprises investments
across five sectors, giving the E Share Class the benefit of the
income and returns on a portfolio of established diversified
investments. The E Share Class total deployment is 80%.
-- The chart below shows the E Share Class investment portfolio by sector at 30 June 2018:
Crematorium Management - 3%
Vertical Growing - 22%
Quoted Investments - 27%
Hydro Electric Power - 12%
SME Funding - Hydro Electric Power - 3%
SME Funding - Other - 8%
Electricity Generation - 25%
Net Assets at 30 June 2018:
30-Jun-18
Unaudited
Ord. Shares A Shares C Shares D Shares E Shares Total
------------ --------- --------- --------- --------- --------
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
VCT qualifying unquoted
investments 963 - 11,176 11,532 13,404 37,075
VCT non qualifying unquoted
investments - - 3,405 2,191 3,580 9,176
VCT non qualifying quoted
investments - - - - 6,130 6,130
--------- --------- --------- ---------
963 - 14,581 13,723 23,114 52,381
------------ --------- --------- --------- ---------
Cash and cash equivalents 11,987 - 982 337 5,726 19,032
---------
Total Investments 12,950 - 15,563 14,060 28,840 71,413
------------ --------- --------- --------- ---------
Other assets & liabilities (138) - 70 867 (120) 679
------------ --------- --------- --------- ---------
Net assets 12,812 - 15,633 14,927 28,720 72,092
------------ --------- --------- --------- ---------
Net asset value per
share (p) 65.83 0.00 116.30 108.94 99.21 n/a
------------ --------- --------- --------- ---------
31-Mar-18
Audited
Ord. Shares A Shares C Shares D Shares E Shares Total
------------ --------- --------- --------- --------- --------
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
VCT qualifying unquoted
investments 9,367 - 11,176 11,532 5,000 37,075
VCT non qualifying unquoted
investments 1,731 - 3,414 2,191 1,849 9,185
VCT non qualifying quoted
investments - - - - 5,884 5,884
--------- --------- --------- ---------
11,098 - 14,590 13,723 12,733 52,144
------------ --------- --------- --------- ---------
Cash and cash equivalents 1,868 - 551 253 15,776 18,448
---------
Total Investments 12,966 - 15,141 13,976 28,509 70,592
------------ --------- --------- --------- ---------
Other assets & liabilities (171) - 25 818 (46) 626
------------ --------- --------- --------- ---------
Net assets 12,795 - 15,166 14,794 28,463 71,218
------------ --------- --------- --------- ---------
Net asset value per
share (p) 65.74 0.00 112.84 107.98 98.32 n/a
------------ --------- --------- --------- ---------
For further information, please contact Ben Beaton or Belinda
Thomas at Triple Point Investment Management LLP on 0207 201
8989.
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London Stock Exchange. RNS is approved by the Financial Conduct
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END
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