Thompson Clive Inv - Interim Results
10 8월 1999 - 5:00PM
UK Regulatory
RNS No 7680x
THOMPSON CLIVE INVESTMENTS PLC
10 August 1999
Contact : Colin Clive, Chairman, Thompson Clive Investments plc
Nat Hone, Director, Thompson Clive & Partners Ltd
Charles Fitzherbert, Director, Thompson Clive & Partners Ltd
Telephone : 0171-491 4809
UNAUDITED INTERIM REPORT FOR THE 6 MONTHS TO 30 JUNE 1999
CHAIRMAN'S STATEMENT
At 30 June 1999 the unaudited net asset value per share of Thompson Clive
Investments plc ('TCI') was 700.0p, an increase of 30% over the net asset
value at 31 December 1998. For the six months to 30 June 1999, TCI earned a
net profit before taxation of #388,000 (1998: #335,000). After taxation, the
retained profit for the period was #314,000 (1998: #262,000).
Following the policy adopted in previous years, the directors do not recommend
the payment of an interim dividend. Subject to unforeseen circumstances, it
is their intention to recommend that the dividend for the full year should at
least be maintained at 3.8p per share.
During the six months TCI made three new investments totalling #1,361,000. In
the UK it invested in Oxford Molecular Group PLC, a quoted worldwide provider
of information technology and drug discovery research services to the
bio-technology and pharmaceutical industries. TCI also invested in Inventure
Technologies Limited, a buyout from an existing portfolio company to develop
and market software for financial analysts. In France TCI invested in Stedim
SA, a market leader in the manufacture and distribution of biopharmaceutical
products. #705,000 of follow on investments were made, two in the UK and one
in the USA.
Seven investments were realised, two in the UK and three in France, for a
total of #4,964,000 against a cost of #1,565,000.
On 25 June 1999 Persistence Software Inc was floated on NASDAQ. TCI neither
bought nor sold Persistence shares at the float and holds 2,313,855 common
stock, valued at #17,600,000 at 30 June, which includes a discount of 12% to
the closing market price to reflect the 180 day lock up period (2% per month
of lock up). This is against a cost of #1,211,000.
On 30 June 1999 The Terence Chapman Group plc was floated on the London Stock
Exchange. TCI sold 1,375,629 shares at the float for proceeds of #1,831,000,
realising a gain of #1,512,000. It continues to hold 14,600,791 shares,
valued at #15,375,000, subject to restrictions on sale until the announcement
of the company's results to 29 February 2000 and valued at a 22% discount to
the market price (2% per month of lock up). This is against a cost of
#3,377,000.
TCI continues to find interesting investment opportunities. A review of all
the companies in the portfolio will be available at the year end.
Colin Clive, Chairman
9 August 1999
The Interim Report is being sent to shareholders and further copies are
available from the Company's registered office. The results will not be
advertised in any newspaper
SUMMARISED STATEMENT OF TOTAL RETURN
Six months Six months Year ended
30 June 30 June 31 December
#000 1999 1998 1998
REVENUE RETURN
Revenue 559 477 1,174
Management expenses allocated to (171) (142) (296)
revenue --- --- -----
388 335 878
Tax on ordinary activities allocated (74) (73) (226)
to revenue --- --- -----
NET REVENUE RETURN AFTER TAX 314 262 652
=== === ===
CAPITAL RETURN
Gains and losses on investments 23,277 10,787 13,264
Management expenses allocated to (971) (804) (1,735)
capital ------ ------ ------
22,306 9,983 11,529
Tax on ordinary activities allocated 21 73 123
to capital ------ ----- ------
NET CAPITAL RETURN AFTER TAX 22,327 10,056 11,652
====== ====== ======
TOTAL RETURN AFTER TAX 22,641 10,318 12,304
====== ====== ======
Return per ordinary share:
Revenue 2.2p 1.9p 4.6p
Capital 159.0p 71.6p 83.0p
Total 161.2p 73.5p 87.6p
The abridged profit & loss account for the year ended 31 December 1998 is an
extract from the published accounts which received an unqualified audit report
and which have been delivered to the Registrar of Companies.
SUMMARISED BALANCE SHEET
30 June 30 June 31 December
#000 1999 1998 1998
Venture capital investments 89,178 64,777 68,800
Fixed interest investments 5,758 8,683 6,524
------ ------ ------
94,936 73,460 75,324
Other net assets 3,381 764 352
------ ------ ------
NET ASSETS 98,317 74,224 75,676
====== ====== ======
Net asset value per ordinary share 700.0p 528.5p 538.8p
INVESTMENTS Cost Valuation
#000 30 June 1999 30 June 1999
Acal plc* 2,151 4,580
Aenix Informatique SA 1,400 1,666
Applied Imaging Corporation* 376 199
Chattanooga Group Inc 603 282
Cider Sante SA* 832 770
Data Conversion Systems Limited 519 94
Davin Group Limited 1,774 1,039
DynEd International Inc 494 -
Esker SA* 160 722
Financial Objects plc* 522 3,155
Genitope Corporation 506 737
Geoconference Limited 225 225
ImageCom Limited 1,250 750
Infotel SA* 549 1,148
Integrated Sales Systems(UK) Limited 426 426
Inventure Holdings Limited 710 949
Inventure Technologies Limited 191 199
Inverse Network Technology Inc 450 508
Isotron plc* 285 5,818
Mantix Systems Limited 254 477
Medicom International Limited 1,957 3,391
N-Soft SA 167 168
Oxford Molecular Group PLC* 998 965
PAREXEL International Corporation* 5,750 3,083
Persistence Software Inc* 1,211 17,600
PowerQuest Corporation 329 729
Quintiles Transnational Corporation* 1,156 14,655
Roster Control Systems Limited 225 225
Sifam Limited 1,478 1,509
Stedim SA* 171 182
The Terence Chapman Group Plc* 3,377 15,375
William Demant Holding A/S* 881 7,552
------ ------
31,377 89,178
*Quoted companies ====== ======
INDEPENDENT REVIEW REPORT BY KPMG AUDIT PLC TO THOMPSON CLIVE INVESTMENTS PLC
INTRODUCTION
We have been instructed by the Company to review the financial information set
out in the Summarised Statement of Total Return and the Summarised Balance
Sheet and we have read the other information contained in the Interim Report
and considered whether it contains any apparent misstatement or material
inconsistencies with the financial information.
DIRECTORS' RESPONSIBILITIES
The Interim Report, including the financial information contained therein, is
the responsibility of, and has been approved by, the Directors. The Listing
Rules of the London Stock Exchange require that the accounting policies and
presentation applied to the interim figures should be consistent with those
applied in preparing the preceding annual accounts except where they are to be
changed in the next annual accounts in which case any changes, and the reasons
for them, are to be disclosed.
REVIEW WORK PERFORMED
We conducted our review in accordance with guidance contained in Bulletin
1999/4 : Review of interim financial information issued by the Auditing
Practices Board. A review consists principally of making enquiries of
management and applying analytical procedures to the financial information and
underlying financial data and, based thereon, assessing whether the accounting
policies and presentation have been consistently applied unless otherwise
disclosed. A review is substantially less in scope than an audit performed in
accordance with Auditing Standards and therefore provides a lower level of
assurance than an audit. Accordingly we do not express an audit opinion on
the financial information.
REVIEW CONCLUSION
On the basis of our review we are not aware of any material modifications that
should be made to the financial information as presented for the six months
ended 30 June 1999.
KPMG Audit Plc
Chartered Accountants
Registered Auditor
London
9 August 1999
END
IR SSIFAUUUUFDA
Thompson Clive (LSE:TCI)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Thompson Clive (LSE:TCI)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024
