Downing Plan 2011 Downing Planned Exit VCT 2011 plc : Interim Management Statement
12 Octobre 2012 - 5:25PM
UK Regulatory
TIDMD1GO
Downing Planned Exit VCT 2011 plc
Interim Management Statement for the three months ended 31 August 2012
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK
Listing Authority, Downing Planned Exit VCT 2011 plc presents an Interim
Management Statement covering the period from 1 June 2012 to 31 August 2012.
Performance
Unaudited Unaudited Audited Initial
31 August 31 May 30 November price
2012 2012 2011 (net of
issue costs)
Pence
General Share Pool
Net Asset Value per General 83.1 82.8 87.1 88.4
Ordinary Share
Net Asset Value per General 'A' 6.6 6.6 6.9 6.1
Share
Cumulative dividends per General 5.0 5.0 - -
Ordinary Share
Total return per General 94.7 94.4 94.0 94.5
Ordinary Share and 'A' Share
Structured Share Pool
Net Asset Value per Structured 83.3 80.2 82.5 88.4
Ordinary Share
Net Asset Value per Structured 6.6 6.4 6.5 6.1
'A' Share
Cumulative dividends per 5.0 5.0 - -
Structured Ordinary Share
Total return per Structured 94.9 91.6 89.0 94.5
Ordinary Share and 'A' Share
Low Carbon Share Pool
Net Asset Value per Low Carbon 81.3 81.0 87.1 88.4
Ordinary Share
Cumulative dividends per Low 5.0 5.0 - -
Carbon Ordinary Share
Total return per Low Carbon 86.3 86.0 87.1 88.4
Ordinary Share
Dividends paid or declared in the period
On 30 July 2012, the Company declared dividend of 2.5p per share in respect of
each of the General Ordinary Shares, General Structured Shares and the
Investment portfolio summary at 31 August 2012
General Share Pool Valuation
movement
from
1 Jun 2012 to
Cost Valuation 31 Aug 2012
GBP'000 GBP'000 GBP'000
Venture Capital Investments
Tooting Tram and Social Limited 1,440 1,440 -
West Tower Holdings Limited 1,320 1,320 -
Hoole Hall Hotel Limited 1,200 1,200 -
Kidspace Adventures Limited 810 810 -
South-Western Farms Solar Limited 800 800 -
Kidspace Adventures Holdings Limited 690 690 -
City Falkirk Limited 675 675 -
Avon Solar Energy Limited 600 600 -
Odysian (Holdings) Limited 600 600 -
Residential PV Trading Limited 600 600 -
Westcountry Solar Solutions Limited 600 600 -
Fubar Stirling Limited 429 429 -
Mosaic Spa and Health Club (Shrewsbury) Limited 360 360 -
Future Biogas (SF) Limited 350 350 -
Angel Solar Limited 300 300 -
Antelope Pub Limited 300 300 -
21st Century Energy Limited 160 160 -
Clean Electricity Limited 145 145 -
UK Renewal Power Limited 145 145 -
Mosaic Spa and Health Club Limited 120 120 -
Cheers Dumbarton Limited 76 76 -
Helcim Group Limited 300 32 (14)
Lochrise Limited 20 20 -
-------------------------------
Total 12,040 11,772 (14)
-------------------------------
Valuation
Structured Share Pool
movement
from
1 Jun 2012 to
Cost Valuation 31 Aug 2012
GBP'000 GBP'000 GBP'000
Structured Products
Goldman Sachs GB86 9.6% Res Auto-Call 504 552 31
Barclays 10% FTSE/S&P Worst Defensive AC 501 550 49
SocGen 9.6% Def FTSE Auto-Call (258) 499 550 55
Credit Suisse 7% FTSE Autocall 502 535 20
JPMorgan 7% Defensive FTSE AC 501 529 27
Elders Cap Accumulation II 16A (Rollover) 502 524 40
Goldman Sachs 10.5% Defensive FTSE 501 523 48
Morgan Stanley 11% Def FTSE 352 382 43
RBS 6 Yr Dual Index Synthetic Zero 10.16% 251 267 34
BNP Paribas Harewood Abs Progression 2 253 253 20
------------------------------
Total 4,366 4,665 367
------------------------------
Venture Capital Investments
Kidspace Adventure Holdings Limited 460 460 -
City Falkirk Limited 450 449 -
Avon Solar Energy Limited 400 400 -
Odysian (Holdings) Limited 400 400 -
Residential PV Trading Limited 400 400 -
South-Western Farms Solar Limited 400 400 -
West Country Solar Solutions Limited 400 400 -
Fubar Stirling Limited 286 286 -
Angel Solar Limited 200 200 -
Mosaic Spa and Health Club (Shrewsbury) Limited 160 160 -
Tooting Tram and Social Limited 160 160 -
Mosaic Spa and Health Club Limited 80 80 -
Cheers Dumbarton Limited 51 51 -
Helcim Group Limited 199 21 (9)
Lochrise Limited 13 13 -
------------------------------
Total 4,059 3,880 (9)
------------------------------
------------------------------
Total 8,425 8,545 358
------------------------------
Valuation
movement
from
Low Carbon Share Pool 1 Jun 2012 to
Cost Valuation 31 Aug 2012
GBP'000 GBP'000 GBP'000
Venture Capital Investments
Green Electricity Generation Limited 1,000 1,000 -
Progressive Energies Limited 1,000 1,000 -
PV Generation Limited 1,000 1,000 -
Progressive Power Generation Limited 950 950 -
Clean Electricity Limited 780 780
UK Renewable Power Limited 780 780 -
21(st) Century Energy Limited 600 600 -
Progressive Energies Limited 400 400 -
------------------------------------
Total 6,510 6,510 -
------------------------------------
Investment activity during the three month period ended 31 August 2012
General Share Pool Portfolio investment additions GBP'000
South-Western Farms Solar Limited 200
21ST Century Energy Limited 160
Helcim Group Limited 14
--------
Total 374
--------
Structured Share Pool Portfolio investment additions GBP'000
Helcim Group Limited 54
--------
Total 54
--------
There were no additions made by the Low Carbon Share Pool during the three month
period ended 31 August 2012.
Investment disposals Realised
Gain gain
Disposal against in the
Cost proceeds cost period
GBP'000 GBP'000 GBP'000 GBP'000
General Share Pool Portfolio
Lullingstone Limited 1,792 1,792 - -
Residential PV Trading Limited 39 39 - -
----------------------------------------
Total 1,831 1,831 - -
----------------------------------------
Structured Share Pool Portfolio
Residential PV Trading Limited 26 26 - -
----------------------------------------
Total 26 26 - -
----------------------------------------
Low Carbon Share Pool Portfolio
21ST Century Energy Limited 120 120 - -
----------------------------------------
Total 120 120 - -
----------------------------------------
----------------------------------------
TOTAL 1,977 1,977 - -
----------------------------------------
Investment activity in the period from 1 September 2012 to the date of this
announcement
Structured Share Pool portfolio additions GBP'000
Kidspace Adventures Limited 540
--------
No additions have been made by the General Share Pool or the Low Carbon Share
Pool in the period from 1 September 2012 to the date of this announcement.
Investment disposals in the period from 1 September 2012 to the date of this
announcement
Realised
Gain gain
Disposal against in the
Cost proceeds cost period
GBP'000 GBP'000 GBP'000 GBP'000
General Share Pool Portfolio
Clean Electricity Limited 75 75 - -
21ST Century Energy Limited 40 40 - -
--------------------------------
115 115 - -
--------------------------------
Structured Share Pool Portfolio
Goldman Sachs GB86 9.6% Res Auto-Call 504 566 62 79
SocGen 9.6% Def FTSE Auto-Call (258) 499 560 61 93
--------------------------------
1,003 1,126 123 172
--------------------------------
Low Carbon Share Pool Portfolio
21ST Century Energy Limited 22 22 - -
--------------------------------
22 22 - -
--------------------------------
--------------------------------
Total 1,140 1,263 123 172
--------------------------------
Changes to share capital
Number of Shares in issue
At date of this At 31 August
Share class announcement 2012
General Ordinary Shares 15,684,891 15,690,016
General A Shares 18,461,489 18,461,489
Structured Ordinary Shares 10,709,375 10,714,500
Structured A Shares 12,605,294 12,605,294
Low Carbon Ordinary Shares 8,109,363 8,109,636
There were no changes to the share capital during the period from 1 June 2012 to
the 31 August 2012. Between 1 September 2012 and the date of this announcement,
the Company purchased 5,125 General Ordinary Shares and 5,125 Structured
Ordinary Shares for cancellation.
Material events
Other than described above, there were no material events during the period from
1 June 2012 to 31 August 2012 or in the period from 1 September 2012 to the date
of this announcement.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Downing Planned Exit VCT 2011 plc via Thomson Reuters ONE
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