Foresight VCT PLC : Interim Management Statement

Foresight VCT plc
Interim Management Statement for the Quarter Ended 31 March 2014

Foresight VCT plc presents its interim management statement for the quarter ended 31 March 2014.  This constitutes the company's first interim management statement for the financial year ending 31 December 2014, 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 March 2014 was 92.0p (31 December 2013: 101.0p).

The unaudited net asset value (NAV) per Planned Exit Share as at 31 March 2014 was 83.7p (31 December 2013: 82.5p).

The unaudited net asset value (NAV) per Infrastructure Share as at 31 March 2014 was 91.5p (31 December 2013: 91.5p).

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 number of Ordinary Shares in issue at 31 March 2014 was 37,244,719.  During the three months ended 31 March 2014, 6,415,575 Ordinary shares were issued.

The number of Planned Exit Shares in issue at 31 March 2014 was 6,115,511. There were no share movements during the three months ended 31 March 2014.

The number of Infrastructure Shares in issue at 31 March 2014 was 16,647,858.  There were no share movements during the three months ended 31 March 2014.

Net assets of the Ordinary Shares fund at 31 March 2014 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	20,739	60.5
Net Current Assets	13,530	39.5
Net Assets	34,269	100.0

Net assets of the Planned Exit Shares fund at 31 March 2014 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	5,040	98.5
Net Current Assets	76	1.5
Net Assets	5,116	100.0

Net assets of the Infrastructure Shares fund at 31 March 2014 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	13,384	87.9
Net Current Assets	1,841	12.1
Net Assets	15,225	100.0

Unquoted investments are carried at fair value as at 31 March 2014 as determined by the directors.

During the three months ended 31 March 2014 the following significant investment transactions took place (all companies unquoted except where otherwise indicated):

Ordinary Shares Portfolio

New investments:

Name of Company	Business Activity	Type of purchase transaction	Amount Invested £'000
Whitchurch PE 1 Limited	Limited company preparing to trade	Ordinary shares and loan	1,000
Kingsclere PE 2 Limited	Limited company preparing to trade	Ordinary shares and loan	1,000
Cole Henry PE 3 Limited	Limited company preparing to trade	Ordinary shares and loan	1,000

Follow-on investments:

Name of Company	Business Activity	Type of purchase transaction	Amount Invested £'000
AlwaysOn Limited	Unified communications provider	Loan	120
DCG Group Limited	Data storage solutions	Ordinary Shares	7

Investment disposals:

Name of Company	Business Activity	Type of disposal transaction	Original Cost £'000	Proceeds £'000
Abacuswood Limited	Manufacturer of wood pellets for energy market	Payment from administrator	19	19

Planned Exit Shares Portfolio

There were no new investments in the quarter.

Follow-on investments:

Name of Company	Business Activity	Type of purchase transaction	Amount Invested £'000
DCG Group Limited	Data storage solutions	Ordinary Shares	1

Investment disposals:

Name of Company	Business Activity	Type of disposal transaction	Original Cost £'000	Proceeds £'000
Withion Power Limited	Waste to energy	Payment from administrator	36	36

Infrastructure Shares Portfolio

New investments and follow on investments:

None

Investment disposals:

Name of Company	Business Activity	Type of disposal transaction	Original Cost £'000	Proceeds £'000
Norwich Infrastructure 4 Limited	Holding company	Repayment of loan and Ordinary shares	930	930
Durham Infrastructure 5 Limited	Holding company	Repayment of loan and Ordinary shares	539	539

For further information please contact:
Gary Fraser, Foresight Group:                            020 3667 8109

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Foresight VCT PLC via Globenewswire

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