Core VCT IV PLC Core Vct Iv Plc : Interim Management Statement
03 5월 2013 - 5:48PM
UK Regulatory
TIDMCR4
From: Core VCT IV PLC
Date: 3 May 2013
Interim Management Statement for the quarter ended
31 March 2013
Quarterly Management Review
Set out below is the interim management statement
("IMS") for the period from 1 January 2013 to 31 March
2013, which contains information that covers this
period, and up to the date of publication of this
IMS. Core VCT IV plc is publishing this IMS in accordance
with DTR 4.3 of the FCA Handbook. As the Company owns
a subsidiary which holds a partnership interest in
an LP consolidated accounts have been prepared.
This IMS has been produced solely to provide additional
information to shareholders as a body to meet the
relevant requirements of the UK Listing Authority's
Disclosure and Transparency Rules. It should not be
relied upon by any other party or for any other purpose.
Performance Summary Ordinary Shares
31 March 31 December
2013 2012
Net asset value per share 44.65 pence 46.13 pence
Total return to date per share(1) 62.15 pence 63.63 pence
Share price (mid-market) 19.50 pence 22.50 pence
Cumulative dividends paid 17.50 pence 17.50 pence
1. Total return per share comprises closing net asset
value per share plus cumulative dividends per share
paid to date.
Investments
During the quarter no investments were purchased or
realised.
Core Capital I LP (CCILP held through Core IV BVI
Limited)
During the quarter no drawdowns were made by CCILP
and at the period end, growth capital of GBP7.8 million
(net of General Partner Fee) still remains to be called
from the other institutional investors. The value
of the Group's 3.09% interest in CCILP decreased by
GBP179,000 in line with the quarterly report prepared
by the Manager. This represents a decrease of 1.65p
per ordinary share.
The Group's cash balance at the end of the quarter
was GBP0.2 million, or 4.8% of net assets.
Group Holdings as % of Net Assets
31 March 31 December
2013 2012
Core Capital I LP 44.3 46.4%
Camwatch Limited 21.1 20.4%
Pureleaf Limited (trading as Momentous Moving
Excellence) 15.4 14.9%
Allied International Holdings Limited 13.8 13.4%
Cording Land LLP 0.1 0.2%
Share Capital
The Company has not issued or bought back any shares
during the period. The Company's issued share capital
currently stands at 10,885,969 ordinary shares.
As is common in Venture Capital Trusts, there is little
if any liquidity in the Company's shares, and although
the Directors are able to buy back shares within certain
constraints, this is intended for use only in exceptional
circumstances. Accordingly, those investors who seek
to realise value by selling their shares in the secondary
market are likely to suffer a significant discount
and potential loss of value. Shareholders might consider
holding their shares with a view to benefiting from
future realisations.
Outlook
We are not intending to make any new investments in
either CCILP or Core VCT IV, but to deploy the remaining
capital and undrawn commitments within CCILP into
supporting the growth of the existing investment portfolio
and managing these through to exit.
For further information please contact:
Stephen Edwards, Core Capital LLP: 020 3179 0915
Rhonda Nicoll, Company Secretary: 020 3179 0930
This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Core VCT IV plc via Thomson Reuters ONE
HUG#1699075
http://www.core-cap.com/
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