Foresight 2 VCT Plc Foresight 2 Vct Plc : Interim Management Statement


 
TIDMFTN 
 
   Foresight 2 VCT plc 
 
   Interim Management Statement for the Quarter Ended 31 December 2013 
 
   Foresight 2 VCT plc presents its interim management statement for the 
quarter ended 31 December 2013.  This constitutes the Company's first 
interim management statement for the financial year ending 30 September 
2014, as required by the UK Listing Authority's Disclosure and 
Transparency Rule 4.3. 
 
   The unaudited net asset value (NAV) per Ordinary share as at 31 December 
2013 was 70.7p (30 September 2013: 75.3p). The NAV per Planned Exit 
share at 31 December 2013 after taking account of an interim dividend of 
5.0p per share was 84.6p (30 September 2013: 94.6p). The NAV per 
Infrastructure share at 31 December 2013 after taking account of an 
interim dividend of 2.5p per share was 90.8p (30 September 2013: 93.0p). 
 
   The Board is not aware of any significant events or transactions between 
the date of the NAV and the date of publication of this interim 
management statement. 
 
   At 31 December 2013, there were 46,457,032 Ordinary shares, 6,145,511 
Planned Exit shares and 16,647,858 Infrastructure shares in issue. 
During the three months ended 31 December 2013 no shares were issued or 
repurchased. 
 
   The net assets of the Ordinary Shares fund at 31 December 2013 comprised 
the following: 
 
 
 
 
                                                      GBP'000  % of Net Assets 
Unquoted Investments at fair value as determined by 
 the Directors                                         30,423             92.6 
Quoted investments at bid price                            80              0.3 
Total venture capital investments                      30,503             92.9 
Net Current Assets                                      2,345              7.1 
Net Assets                                             32,848            100.0 
 
 
 
   The net assets of the Planned Exit Shares fund at 31 December 2013 
comprised the following: 
 
 
 
 
                                                      GBP'000  % of Net Assets 
Unquoted Investments at fair value as determined by 
 the Directors                                         5,193         99.9 
Quoted investments at bid price                             0              0.0 
Total venture capital investments                       5,193             99.9 
Net Current Assets                                          5              0.1 
Net Assets                                              5,198            100.0 
 
 
 
   The net assets of the Infrastructure Shares fund at 31 December 2013 
comprised the following: 
 
 
 
 
                                                      GBP'000  % of Net Assets 
Unquoted Investments at fair value as determined by 
 the Directors                                        14,853         98.3 
Quoted investments at bid price                             0              0.0 
Total venture capital investments                      14,853             98.3 
Net Current Assets                                        261              1.7 
Net Assets                                             15,114            100.0 
 
 
 
   Quoted investments are stated at bid price as at 31 December 2013. 
Unquoted investments are stated at fair value as at 31 December 2013 as 
determined by the Directors. 
 
   During the three months ended 31 December 2013 the following significant 
investment transactions took place: 
 
   Ordinary Shares Portfolio 
 
   Investment additions: 
 
 
 
 
                                                              Type of        Amount 
Name of                                                       purchase      Invested 
Company   Business Activity                                   transaction   GBP'000 
          Design and manufacturer of communications systems 
Trilogy    for defence and broadcast markets                  Loan                73 
 
 
 
   Investment disposals: 
 
 
 
 
                                                                          Type of 
Name of                                                                   disposal        Proceeds Received 
Company     Business Activity                                             transaction          GBP'000 
i-Plas      Manufacturer of consumer and industrial products from         Payment from 
 Group       recycled waste plastics                                       administrator                 30 
            Provided planetariums and immersive theatres with 
Global       projection equipment, design, installation and maintenance   Payment from 
 Immersion   services.                                                     administrator                  1 
 
 
 
   Planned Exit Shares Portfolio 
 
   Investment additions: 
 
 
 
 
                                                              Type of        Amount 
Name of                                                       purchase      Invested 
Company   Business Activity                                   transaction   GBP'000 
          Design and manufacturer of communications systems 
Trilogy    for defence and broadcast markets                  Loan                46 
 
 
 
   Investment disposals: 
 
 
 
 
                                                                      Type of 
Name of                                                               disposal      Proceeds Received 
Company      Business Activity                                        transaction        GBP'000 
Industrial   Provides energy and cost saving services to industrial   Repayment of 
 Efficiency   sector clients                                           loan                        25 
 
 
 
   Infrastructure Shares Portfolio 
 
   Investment additions: 
 
   There were no additions in the quarter. 
 
   Investment disposals: 
 
 
 
 
                                         Type of disposal    Proceeds Received 
Name of Company      Business Activity   transaction              GBP'000 
                     Limited company 
Hereford              preparing to       Repayment of 
 Infrastructure       trade               shares                           300 
 
 
 
   For further information please contact: 
 
   Gary Fraser, Foresight Group:                        01732 471 800 
 
   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 2 VCT PLC via Globenewswire 
 
   HUG#1764236 
 
 
  http://www.foresightgroup.eu/
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