TP10 VCT Plc Trading Update (4256K)
16 4월 2015 - 7:17PM
UK Regulatory
TIDMTP10
RNS Number : 4256K
TP10 VCT Plc
16 April 2015
TP10 VCT PLC
Trading Update
London 16 April 2015: The Board of TP10 VCT PLC has today
announced the disposal by its solar portfolio companies of a
significant proportion of their roof-mounted solar assets.
The disposal price is expected to result in a significant
enhancement to the valuation of TP10 VCT PLC's investments in the
companies, which the Board estimates is equivalent to an uplift to
the unaudited net asset value of 9 pence per share. This is
expected to increase total shareholder return (unaudited net asset
value plus dividends paid), as last reported on 30 November 2014,
from 97.71 pence per share to 106.71 pence per share.
Claire Ainsworth, managing partner of Triple Point, said:
"Triple Point was one of the first fund management firms in the
sector to recognise the opportunities offered by investing in
domestic solar assets. Since 2011 we have successfully funded a
portfolio of high performing residential solar assets located
throughout the United Kingdom, principally through our Venture
Capital Trust offerings. Venture capital funds have played an
important part in the solar industry and we are pleased to have
built a seasoned portfolio that is now of interest to institutional
investors. Today we have announced the sale of a significant part
of the portfolio of solar assets, at a price which is expected to
enhance returns to investors."
Robin Morrison, chairman of TP10 VCT PLC, said:
"This realisation has allowed TP10 VCT PLC to deliver a highly
creditable result to shareholders. VCTs aim to back smaller
businesses. This result demonstrates the value VCTs can provide to
such businesses and the returns this can deliver to
shareholders."
For further information, please contact David Burton at Triple
Point, on 020 7201 8989.
- Ends -
For further information please contact:
James Madsen
CNC - COMMUNICATIONS & NETWORK CONSULTING
james.madsen@cnc-communications.com
T +44 20 3219 8812
About Triple Point
Triple Point is an investment manager that specialises in
venture capital funding typically through Venture Capital Trusts
and companies qualifying under the Enterprise Investment Scheme,
with over GBP300 million under management.
In addition to funding small renewable energy ventures across
the UK, Triple Point provides private capital for a range of
enterprises from small private equity investments to asset finance
solutions for large, established organisations. With access to
capital sourced from private individuals Triple Point offers
advantages to organisations whose requirements are not being
satisfactorily met by standard providers and products.
www.triplepoint.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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