Foresight VCT PLC : Trading Statement

Foresight announces successful sale of Channel Technical Services Ltd, supporting full repayment of Foresight shareholder loans 

Foresight Group (Foresight) is delighted to announce on behalf of the boards of Foresight VCT plc Planned Exit and Foresight 2 VCT plc Planned Exit (together the Foresight funds) that it has completed the successful sale of Channel Technical Services Ltd, the 100% owned subsidiary of Channel Safety Systems Group Limited ("CSSG"). This has enabled the full repayment of Foresight funds' shareholder loans in CSSG (£614,250 to each of the Foresight funds). Foresight funds' significant minority equity stake in CSSG remains unchanged.

Combined with interest payments, Foresight funds' investment in the MBI of CSSG in December 2010 has now returned 1.21x cost in cash, with no reduction in equity holding.

James Livingston, Director of Foresight and of CSSG commented "We are delighted that the strategic decision of the management team to spin out the service business of CSSG has delivered such value to shareholders.  We are confident that CSSG, which is now a focused lighting, safety and security products business, will continue on its growth trajectory and we look forward to supporting the management team in achieving their goals."

ENDS

For further information, please contact:
Ben Thompson: [e-mail] / 020 3667 8155

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Source: Foresight VCT PLC via Globenewswire

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