Interim Management Statement
Introduction
I am pleased to present the Crown Place VCT PLC's interim management statement
for the period from 1 July to 9 November 2010 as required by the UK Listing
Authority's Disclosure and Transparency Rule 4.3.
Performance and dividends
The Company's unaudited net asset value (NAV), based on management accounts, as
at 30 September 2010 was £24.3 million (30 June 2010: £23.5 million) or 33.8
pence per share (excluding treasury shares) (30 June 2010: 32.7 pence per
share). Â This is after accounting for the first dividend for the year to 30 June
2011 of 1.25 pence per share (total cost: £899,000), to be paid on 30 November
2010 to shareholders on the register as at 29 October 2010.
The net asset value has risen by 1.09 pence or 3.3 per cent. since 30 June
2010, mainly as a result of an increase in the valuation of the Company's
investment portfolio.
Share issues and buybacks
During the period from 1 July 2010 to 9 November 2010, the Company purchased
175,000 shares for cancellation at an average price of 28.9 pence per share.
It remains the Board's policy to buy back shares in the market, subject to the
overall constraint that such purchases are in the Company's interest, including
the maintenance of sufficient resources for investment in existing and new
investee companies and the continued payment of dividends to shareholders.
It is the Company's intention that, subject to the sufficiency of cash resources
and any market constraints, share  buy-backs should be in the region of a 10 to
15 per cent. discount to net asset value.
Portfolio
The following investments have been made during the period from 1 July 2010 to
9 November 2010:
+-----------------------------------+------+-----------------------------------+
|Name |£000's|  |
+-----------------------------------+------+-----------------------------------+
|Radnor House School Limited (new |1,564 |Independent school for children |
|investment) | |aged 7 - 18 |
+-----------------------------------+------+-----------------------------------+
|Oakland Care Centre Limited (new |736 |Care home |
|investment) | | |
+-----------------------------------+------+-----------------------------------+
|TEG Biogas (Perth) Ltd (new |109 |Anaerobic digestion |
|investment) | | |
+-----------------------------------+------+-----------------------------------+
|Bravo Inns II Limited |100 |Owner and operator of freehold pubs|
+-----------------------------------+------+-----------------------------------+
|Rostima Limited (further |47 |Provider of work force management |
|investment) | |solutions software |
+-----------------------------------+------+-----------------------------------+
|Xceleron (further investment) |31 |Provider of a range of drug |
| | |development services to the life |
| | |science industry |
+-----------------------------------+------+-----------------------------------+
Disposals
During the period from 1 July 2010 to 9 November 2010 Booth Dispensers Limited
repaid £8,000 of loan stock and River Bourne Health Club repaid £4,000 loan
stock. Crown Place VCT PLC has also sold its investment in Cello Group PLC for
proceeds of £140,000.
Top ten qualifying holdings (as at 30 September 2010)
+-----------------------------------+---------------------+
| Investment | Carrying/fair value |
| | £000's |
+-----------------------------------+---------------------+
| The Crown Hotel Harrogate Limited | 2,127 |
+-----------------------------------+---------------------+
| ELE Advanced Technologies Limited | 1,972 |
+-----------------------------------+---------------------+
| Radnor House School Limited | 1,572 |
+-----------------------------------+---------------------+
| The Stanwell Hotel Limited | 1,218 |
+-----------------------------------+---------------------+
| The Charnwood Pub Company Limited | 1,123 |
+-----------------------------------+---------------------+
| Avanti Communications plc | 1,103 |
+-----------------------------------+---------------------+
| Kensington Health Club Limited | 1,081 |
+-----------------------------------+---------------------+
| Kew Green VCT (Stansted) Limited | 955 |
+-----------------------------------+---------------------+
| Geronimo Inns VCT I Limited | 827 |
+-----------------------------------+---------------------+
| Geronimo Inns VCT II Limited | 827 |
+-----------------------------------+---------------------+
Albion VCTs Linked Top Up Offer
On 1 November 2010 the Company announced the launch of the Albion VCTs linked
top up offer.  In aggregate, the Albion VCTs will be aiming to raise up to £15
million across all of the seven VCTs managed by Albion Ventures LLP, of which
Crown Place VCT's share will be approximately £2.25 million.  The maximum amount
raised by each of the Albion VCTs will be the lower of Euros 2.5 million, and
10 per cent. of its issued share capital (over any one 12 month period, and
including any shares issued under Dividend Reinvestment Schemes), being the
amount that they may issue under the Prospectus Rules without the publication of
a full prospectus. The number of new shares available may change depending on
the £: euro exchange rate at the date of allotment.
The proceeds of the Offer will be used to provide further resources to the
Albion VCTs at a time when a number of attractive new investment opportunities
are being seen.
An offer document will be sent to shareholders later this month.
There have been no further significant events or transactions that the Board are
aware of which would have a material impact on the financial position of the
Company between 1 July 2010 and 9 November 2010.
Further information regarding historic and current financial performance and
other useful shareholder information can be found on the Fund's website
underwww.albion-ventures.co.uk/Our Funds/Crown Place VCT PLC.
Patrick Crosthwaite, Chairman
9 November 2010
For further information please contact:
Patrick Reeve, Albion Ventures LLP - tel: 020 7601 1850
[HUG#1460428]
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Source: Crown Place VCT PLC via Thomson Reuters ONE
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