Foresight VCT PLC : Interim Management Statement

Foresight VCT plc
Interim Management Statement for the Quarter Ended 30 September 2012

Foresight VCT plc presents its interim management statement for the quarter ended 30 September 2012.  This constitutes the company's second interim management statement for the financial year ending 31 December 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 30 September 2012 was 115.8p (30 June 2012: 120.8p).

The unaudited net asset value (NAV) per Planned Exit Share as at 30 September 2012 was 84.4p (30 June 2012: 89.2p). This is after accounting for the 5.0p per Planned Exit Share dividend paid in August 2012.  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.

The unaudited net asset value (NAV) per Infrastructure Share as at 30 September 2012 was 94.5p (30 June 2012: 94.6p).

The number of Ordinary Shares in issue at 30 September 2012 was 27,534,155.  During the three months ended 30 September 2012, 200,000 Ordinary shares were bought back and 49,346 Ordinary shares issued as part of the top up offer.

The number of Planned Exit Shares in issue at 30 September 2011 was 6,142,813.  During the three months ended 30 September 2012, 37,020 Planned Exit shares were bought back.

The number of Infrastructure Shares in issue at 30 September 2012 was 16,647,858.  During the three months ended 30 September 2012, 251,362 Infrastructure shares were issued.

Net assets of the Ordinary Shares fund at 30 September 2012 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	25,247	79.2
Quoted investments at bid price	931	2.9
Total venture capital investments	26,178	82.1
Net Current Assets	5,714	17.9
Net Assets	31,892	100.0

Net assets of the Planned Exit Shares fund at 30 September 2012 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	4,717	91.0
Quoted investments at bid price	0	0.0
Total venture capital investments	4,717	91.0
Net Current Assets	467	9.0
Net Assets	5,184	100.0

Net assets of the Infrastructure Shares fund at 30 September 2012 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	12,500	79.4
Quoted investments at bid price	0	0.0
Total venture capital investments	12,500	79.4
Net Current Assets	3,238	20.6
Net Assets	15,738	100.0

Quoted investments are carried at bid price as at 30 September 2012. Unquoted investments are carried at fair value as at 30 September 2012 as determined by the directors.

During the three months ended 30 September 2012 the following significant investment transactions took place (all companies unquoted except where otherwise indicated):

Ordinary Shares Portfolio

New investments:

Name of Company	Business Activity	Amount Invested £'000
Blackstar Amplification Holdings Limited	Manufacturer of guitar amplifiers	2,500
Leisure Efficiency III Limited	Acquisition vehicle preparing to trade	2,000

Follow-on investments:

Name of Company	Business Activity	Amount Invested £'000
Withion	Electricity production from waste wood	160
AlwaysOn	Unified communications provider	150
Abacus Wood	Wood pellet manufacturing	60
Silvigen	Integrated biomass fuel solutions	8

Investment disposals:

Name of Company	Business Activity	Original Cost £'000	Proceeds £'000
Withion	Automotive diagnostic equipment	100	100
Alaric	Fraud detection, transaction switching and payment channel integration system	69	69

Planned Exit Shares Portfolio

New investment:

Name of Company	Business Activity	Amount Invested £'000
Channel Safety Systems	Systems design and maintenance of fire detection systems, emergency lighting solutionsand disability assistance products.	125

Investment disposals:

None

For further information please contact:
Gary Fraser, Foresight Group:                            01732 471 800

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Source: Foresight VCT PLC via Thomson Reuters ONE

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