Foresight 4 VCT PLC : Interim Management Statement

Foresight 4 VCT plc
Interim Management Statement for the Quarter Ended 31 December 2011

Foresight 4 VCT plc presents its interim management statement for the quarter ended 31 December 2011.  This constitutes the company's second interim management statement for the financial year ending 31 March 2012, 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 2011 was 106.1p (30 September 2011: 109.6p).

At 31 December 2011, there were 36,512,963 ordinary shares in issue. During the three months ended 31 December 2011 there were no shares issued.

There were no ordinary shares repurchased during the period.

In January Foresight 4 VCT plc merged with Foresight Clearwater VCT plc, Foresight 5 VCT plc and Acuity VCT 3 plc, the completion of which was announced on 6 February 2012 and summary details of which are contained below, 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.

In January 2012, the partial sale of Autologic Diagnostics Limited generated proceeds of £2,789,576, and the refinancing of Datapath Holdings Limited generated cash of £713,423 The Board is not aware of any other significant events or transactions between the date of the NAV and the date of publication of this Interim Management Statement.

Merger
In connection with  the merger of the Company with Foresight 5 VCT plc ("Foresight 5"), Acuity VCT   3 plc   ("Acuity   3") and   Foresight   Clearwater  VCT  plc  ("Foresight Clearwater"),  the assets and liabilities of Foresight 5, Acuity  3 and Foresight  Clearwater were, on 6 February 2012, transferred  to the Company in consideration  for the issue of new ordinary shares of 1p each in the capital of the  Company to Foresight Clearwater ("Ordinary Shares")  and the issue of new C ordinary  shares of  1p each in  the capital  of the  Company to Foresight 5 and
Acuity 3 ("C Shares") as set out below.

The  total number of Ordinary Shares issued to Foresight Clearwater shareholders in  connection  with  its  Scheme  was  1,503,382, at  a  deemed  issue price of 105.677178 pence per share, and the total number of C Shares issued to Foresight 5 and  Acuity 3 shareholders in connection with their Schemes was 10,814,271 and 7,878,827, respectively, both at a deemed issue price of 100.00 pence per share.

Following implementation of the Schemes on 6 February 2012 there were 38,016,345 Ordinary Shares and 18,693,098 C Shares in issue in the Company.

The net assets at 31 December 2011 comprised the following:

	£'000		% of Net Assets
Unquoted Investments at fair value as determined by the Directors	33,047		85.3
Quoted investments at bid price	897		2.3
Total venture capital investments	33,944		87.6
Net Current Assets	4,780		12.4
Net Assets	38,778		100.0

Quoted investments are stated at bid price as at 31 December 2011.  Unquoted investments are stated at fair value as at 31 December as determined by the Directors.

During the three months ended 31 December 2011 the following significant investment transactions took place (all companies unquoted except where otherwise indicated):

New and follow-on investments:

Name of Company	Business Activity	Amount Invested £'000
I-Plas	Manufacture of high performance recycled plastics products	75
Closed Loop	Recycles waste plastic bottles into food grade products	270
O-Gen Acme Trek	Biomass to energy plant operation	1,095
Crumb Rubber	Manufacture of fine rubber powder from recycled tyres	75
Vertal	organic waste treatment and recycling services	217
Abacus Wood	Renewable energy	118

Investment disposals:

During the quarter, Trilogy Communications Limited repaid £400,000 of loan stock.

For further information please contact:

Gary Fraser, Foresight Group:                        01732 471 800

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Source: Foresight 4 VCT PLC via Thomson Reuters ONE

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