Elderstreet VCT plc
Interim Management Statement
for the three months ended 30 September 2013
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority, Elderstreet VCT plc presents an Interim Management Statement for the three month period ended 30 September 2013. The statement also includes relevant financial information between the end of the period and the date of this statement.
Performance
30 Sept 2013 | 30 Jun 2013 | 31 Mar 2013 | 31 Dec 2012 | |
Pence | Pence | Pence | Pence | |
(Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |
Net asset value per share | 69.4 | 70.3 | 67.5 | 68.9 |
Cumulative dividends paid per share | 60.0 | 60.0 | 58.0 | 58.0 |
Total return per share | 129.4 | 130.3 | 125.5 | 126.9 |
*NAV plus cumulative dividends paid since launch
Dividends
On 28 August 2013, the Company declared an interim dividend of 2.0p per Ordinary Share for the year to 31 December 2013, payable on 6 December 2013 to Shareholders on the register at 8 November 2013.
Investment portfolio summary at 31 March 2013
Cost | Valuation | Valuation movement between 1 Jul 2013 and 30 Sep 2013 | |
£'000 | £'000 | £'000 | |
Venture capital investments (by value) | |||
Wessex Advanced Switching Products Limited | 60 | 3,085 | - |
Fords Packaging Systems Limited | 1,047 | 3,018 | - |
Smart Education Limited | 687 | 2,397 | - |
AngloINFO Limited | 1,108 | 1,483 | - |
Access Intelligence plc* | 1,633 | 1,325 | (194) |
Lyalvale Express Limited | 915 | 1,255 | - |
SnackTime plc* | 1,775 | 787 | 157 |
B & F Management Limited | 700 | 700 | - |
Baldwin & Francis (Holdings) Limited | 690 | 690 | - |
Concorde Solutions Limited | 500 | 500 | - |
Interquest Group plc | 336 | 476 | 125 |
The Engine Group Limited | 455 | 359 | - |
Mears Group plc | 188 | 335 | 28 |
Cashfac Initiative Limited | 260 | 328 | - |
Aconite Technology Limited | 462 | 210 | (478) |
Fulcrum Utility Services Limited | 500 | 198 | (44) |
Rosebowl plc | 187 | 47 | - |
Sift Limited | 250 | 38 | - |
Servoca plc | 333 | 36 | 3 |
SparesFinder Limited | 104 | 34 | - |
The Kellan Group plc | 657 | 7 | - |
City Visitor Group plc | 127 | - | - |
The National Solicitors Network Limited | 501 | - | - |
The QSS Group Limited | 268 | - | - |
13,743 | 17,308 | (403) | |
Fixed income securities | |||
United Kingdom 2.25% Gilt 07/03/2014 | 830 | 852 | (4) |
United Kingdom 1% Gilt 07/09/2017 | 614 | 607 | (1) |
S&W Investments Funds Cash Fun | 10 | 10 | - |
1,454 | 1,469 | (5) | |
Total | 15,197 | 18,777 | (408) |
All investments are unquoted unless otherwise stated.
*Quoted on AIM
Investment additions
There have been no additions in the period ended 30 September 2013 and between the period end and the date of this announcement.
Investment disposals during the three months ended 30 September 2013
Cost | Valuation at 1 January 2013 | Disposal proceeds | Gain in period against cost | Total realised gain | |
£'000 | £'000 | £'000 | £'000 | £'000 | |
Smart Education Limited | 74 | 74 | 74 | - | - |
There have been no disposals between the period end and the date of this announcement.
Changes to share capital
Ordinary Shares of 5p each | ||
Shares | £'000 | |
As at 1 July 2013 | 30,948,108 | 1,547 |
Shares bought back and cancelled | - | - |
As at 30 September 2013 | 30,948,108 | 1,547 |
There have been no changes to share capital between the period end and the date of this announcement.
Material events
Other than described above, there were no material events during the period from 1 July 2013 to 30 September 2013 or in the period from 1 October 2013 to the date of this announcement.