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TP70 2008(ii) VCT (TPV2)

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Thursday 13 August, 2009

TP70 2008(ii) VCT

Interim Management Statement

RNS Number : 4103X
TP70 2008 (ii) VCT PLC
13 August 2009
 






TP70 2008 (II) VCT plc


13 August 2009



Interim Management Statement for the quarter ended 30 June 2009


TP70 2008 (II) VCT plc has pleasure in submitting its interim management statement for the quarter ended 30 June 2009. This constitutes the Company's first interim management statement for the financial period ending 31 March 2010, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.


Net assets at 30 June 2009 comprised:


   30 June 2009                   31 March 2009

   Unaudited                       Audited

   £'000        %                  £'000        %


VCT qualifying fixed asset

investments at fair value                11,055        55.9               9,108       46.1


VCT non-qualifying fixed asset

investments at fair value                     433       2.2                     0            0.0


GAM Diversity 2.5XL                    4,331       21.9              4,332         21.9


Net current assets                           3,949       20.0              6,322         32.0


                                                   19,768       100.0           19,762         100.0


Net asset value per ordinary

share                                            86.33p                         86.30p



Investment Activity

The Company has continued to make VCT investments this quarter and now has 55.9% of VCT qualifying holdings; which is well on the way to the target of having 70% in VCT qualifying holdings by the end of the third accounting period.


The exposure to GAM Diversity 2.5XL is achieved directly through the Company's 50% holding in Lorngreen Ltd and indirectly through a derivative transaction with Julius Baer. For the calendar year to date, GAM Diversity 2.5XL has returned 0.16% in sterling terms which compares favourably with the benchmark MSCI World Index in GBP, which calendar year to date stands at -6.7%.


Material Events and Transactions

During the quarter no shares were issued and no shares were purchased by the Company for cancellation. 



Further Information

For further information, please contact David Dick or Chris Tottle at Triple Point Investment Management LLP on 0207 201 8989.



This information is provided by RNS
The company news service from the London Stock Exchange
 
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