Foresight VCT PLC : Interim Management Statement

Foresight VCT plc
Interim Management Statement for the Quarter Ended 31 March 2013

Foresight VCT plc presents its interim management statement for the quarter ended 31 March 2013.  This constitutes the company's first interim management statement for the financial year ending 31 December 2013, 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 2013 was 103.0p (31 December 2012: 111.3p).  The unaudited net asset value (NAV) per Planned Exit Share as at 31 March 2013 was 99.9p (31 December 2012: 100.0p). The unaudited net asset value per Infrastructure Share as at 31 March 2013 was 94.3p (31 December 2012: 94.6p). 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.

At 31 March 2013, there were 27,771,095 Ordinary shares, 6,142,813 Planned Exit shares and 16,647,858 Infrastructure Shares in issue.

During the three months ended 31 March 2013, 446,940 Ordinary Shares were allotted as part of the top up offer based on an issue price of 111.30p.

Net assets of the Ordinary Shares fund at 31 March 2013 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	23,191	81.1
Quoted investments at bid price	242	0.8
Total venture capital investments	23,433	81.9
Net Current Assets	5,179	18.1
Net Assets	28,612	100.0

Net assets of the Planned Exit Shares fund at 31 March 2013 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	5,725	93.3
Quoted investments at bid price	0	0.0
Total venture capital investments	5,725	93.3
Net Current Assets	410	6.7
Net Assets	6,135	100.0

Net assets of the Infrastructure Shares fund at 31 March 2013 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	15,161	96.6
Quoted investments at bid price	0	0.0
Total venture capital investments	15,161	96.6
Net Current Assets	534	3.4
Net Assets	15,695	100.0

Quoted investments are carried at bid price as at 31 March 2013. Unquoted investments are carried at fair value as at 31 March 2013 as determined by the directors.

During the three months ended 31 March 2013 the following significant investment transactions took place (all companies unquoted except where otherwise indicated):

Ordinary Shares Portfolio

Follow-on investments:

Name of Company	Business Activity	Amount Invested £'000
DCG Group Limited	Data storage solutions	210
Withion Power	Electricity production from waste wood	96

Investment disposals / loan repayments:

Name of Company	Business Activity	Original Cost £'000	Proceeds £'000
ANT plc	Software developer	1,226	407
i-Plas group	Manufacturer of building products from waste plastics	89	89

Planned Exit Shares Portfolio

New investments:

Name of Company	Business Activity	Amount Invested £'000
Industrial Efficiency	Energy cost saving supplier	180
DCG Group Limited	Data storage solutions	31

Investment disposals:

Name of Company	Business Activity	Original Cost £'000	Proceeds £'000
Withion Power	Electricity production from waste wood	50	50

Infrastructure Shares Portfolio

New investments:

Name of Company	Business Activity	Amount Invested £'000
Criterion Healthcare	Operates Bishop Auckland hospital	1,709,074
Lochgilphead Healthcare	Operates Lochgilphead hospital	1,693,367
Stobhill Healthcare	Operates Stobhill hospital	1,493,246
Wharfdale SPV	Operates Wharfedale hospital	677,947

Investment disposals:

The above new infrastructure investments were partially funding utilising £4 million received from investments made in four limited companies which were preparing to trade.
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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