Elderstreet VCT plc : Interim Management Statement

Elderstreet VCT plc
Interim Management Statement
for the three months ended 31 March 2014

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 31 March 2014.  The statement also includes relevant financial information between the end of the period and the date of this statement.

Dividends paid or declared in the period
No dividends were paid or declared in the period to 31 March 2014.

On 28 April 2014, the Board declared a final dividend in respect of the year to 31 December 2013 of 2.0p per Ordinary Share. Subject to shareholder approval at the Annual General Meeting on 5 June 2014, the dividend will be paid on 30 June 2014 to Shareholders on the register at 30 May 2014.

Performance

	31 March  2014	31 December 2013
	Unaudited	Audited
	Pence	Pence
Net Asset Value ("NAV")	93.2	78.0
Cumulative Dividends	62.0	62.0
Total Return *	155.2	140.0

* NAV plus cumulative dividends paid since launch

Investment portfolio summary at 31 March 2014

	Cost	Valuation	Movement  in period
	£'000	£'000	£'000
Ten largest investments by value
Wessex Advanced Switching Products Limited	60	9,019	4,392
Smart Education Limited	379	2,989	-
Fords Packaging Topco Limited	2,882	2,882	-
Baldwin & Francis Limited	1,384	2,348	321
AngloINFO Limited	1,208	1,583	-
Access Intelligence plc *	1,633	1,408	(112)
Lyalvale Express Limited	915	1,369	-
Concorde Solutions Limited	750	750	-
Snacktime plc*	1,775	630	(18)
Interquest Group plc*	336	598	50
Subtotal	11,322	23,576	4,633
Other venture capital investments	4,996	2,350	111
Fixed income securities	625	614	3
Total	16,943	26,540	4,747

All investments are unquoted unless otherwise stated.
* Quoted on AIM 
  
Investment additions during the three months ended 31 March 2014

	Cost
	£'000
Aconite Technology Limited	100
AngloINFO Limited	100
Baldwin & Francis Limited	694
Concorde Solutions Limited	250
Macranet Limited	563
	1,707

Since the period end there has been no other additions. 

Investment disposals during the three months ended 31 March 2014

	Cost	Value at 01/01/14	Disposal  proceeds	Gain  in period against cost	Total realised gain
	£'000	£'000	£'000	£'000	£'000
B& F Management Limited	700	763	763	63	-
Smart Education Limited	132	132	132	-	-
	832	895	895	63	-

Since the period end the Company has disposed of its holding in Wessex Advanced Switching Products Limited for a carrying value as at 31 March 2014 and part of its holding in Interquest Group plc for £90,000.

Changes to share capital

	Ordinary Shares of 5p each
	Shares	£'000
As at 1 January 2014	30,743,158	1,537
Shares issued	-	-
Shares bought back and cancelled	-	-
As at 31 March 2014	30,743,158	1,537

No shares have been bought back for cancellation since the period end.

Material events
Other than described above, there were no material events during the period from 1 January 2014 to 31 March 2014 or in the period from 1 April 2014 to the date of this announcement.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Elderstreet VCT plc via Globenewswire

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