TIDMTPV1
RNS Number : 0776Q
Triple Point Income VCT PLC
14 February 2019
LEI: 213800IXD8S5WY88L245
Triple Point Income VCT plc
14 February 2019
Interim Management Statement for the quarter ended 31 December
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 31 December 2018 was 1.00p per share.
-- On 1 October 2018 the Ordinary Share Class realised its
investment in Green Energy for Education Limited.
-- On 14 December 2018 a final dividend was paid to the Ordinary
Class Shareholders of 4.07p per share bringing total dividends paid
to Ordinary Class Shareholders to 97.87p per share. This compares
to a weighted average subscription share price of 83.6p per
share.
-- The intention remains to cancel the Ordinary Shares and pay
the remaining 1.00p by the end of the Company's financial year
ending 31 March 2019.
C Share Class
-- The NAV at 31 December 2018 has increased by 0.57p to 112.40p
per share as a result of profit generated during the period.
-- At 31 December 2018 the total paid by way of dividends to
shareholders was 15.00p per share, bringing the total return to
127.40p per share.
-- 100% of the C Share Class investments are in the
hydro-electric power sector, in line with the investment
strategy.
-- The C Share Class investment portfolio by sector at 31 December 2018:
Hydro Electric Power - 80%
SME Funding - Hydro Electric Power - 20%
D Share Class
-- The NAV at 31 December 2018 has increased by 0.88p to 105.7p
per share as a result of profit generated during the period.
-- 97% of the D Share investments are in the Hydro Electric
Power sector, in line with the investment strategy.
-- The D Share Class investment portfolio by sector at 31 December 2018:
Hydro Electric Power - 88%
SME Funding - Hydro Electric Power - 9%
SME Funding - Other - 3%
E Share Class
-- The NAV at 31 December 2018 has decreased by 1.09p to 98.25p
per share during the period. This is due to a fall in the market
price of the shares held in a quoted investment. The share price
fell from 105p at 30 September 2018 to 99.6p. Following the period
end, the share price has recovered to 104p.
-- During the period the E Share Class acquired a qualifying
Investment in a rooftop solar PV company.
-- Based on the current valuations of the portfolio, the E Share
Class is 84% deployed in a portfolio of qualifying and
non-qualifying investments.
-- The E Share Class investment portfolio by sector at 31 December 2018:
Crematorium Management - 3%
Vertical Growing - 21%
Quoted Investments - 27%
Hydro Electric Power - 12%
SME Funding - Hydro Electric Power - 3%
SME Funding - Other - 9%
Electricity Generation - 25%
Net Assets at 31 December 2018:
31-Dec-18
Unaudited
Ord. Shares C Shares D Shares E Shares Total
------------ --------- --------- --------- --------
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
VCT qualifying unquoted
investments - 11,176 11,532 14,367 37,075
VCT non-qualifying unquoted
investments - 3,349 1,791 3,892 9,032
VCT non-qualifying quoted
investments - - - 5,791 5,791
------------ --------- --------- ---------
0 14,525 13,323 24,050 51,898
------------ --------- --------- ---------
Cash and cash equivalents 248 661 310 4,733 5,952
Total Investments 248 15,186 13,633 28,783 57,850
------------ --------- --------- ---------
Other assets & liabilities (53) (78) 850 (338) 381
------------ --------- --------- ---------
Net assets 195 15,108 14,483 28,445 58,231
------------ --------- --------- ---------
Net asset value per share
(p) 1.00 112.40 105.70 98.25 n/a
------------ --------- --------- ---------
31-Mar-18
Audited
Ord. Shares C Shares D Shares E Shares Total
------------ --------- --------- --------- --------
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 (178) 25 818 (46) 619
------------ --------- --------- --------- --------
Net assets 12,788 15,166 14,794 28,463 71,211
------------ --------- --------- --------- --------
Net asset value per share
(p) 65.74 112.84 107.98 98 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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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCGGUUWPUPBGMC
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February 14, 2019 12:32 ET (17:32 GMT)
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