Foresight 3 VCT PLC Foresight 3 Vct Plc : Trading Statement


 
TIDMFTD 
 
   Foresight VCT plc, Foresight 3 VCT plc & Foresight 4 VCT plc 
 
   Trading Statement 
 
   Foresight announces the successful refinancing of its GBP3.5 million 
investment in Dundee-based precision engineering firm Aerospace Tooling 
Corporation Limited. 
 
   Foresight Group (Foresight) is delighted to announce on behalf of the 
boards of Foresight VCT plc, Foresight 3 VCT plc and Foresight 4 VCT plc 
that it completed on 25 September 2014 the successful refinancing of its 
GBP3.5 million investment in Aerospace Tooling Corporation Limited 
("ATCL") made in June 2013. 
 
   The refinancing has seen the aggregate investment of GBP3.5 million made 
by the three Foresight VCTs repaid in full through the recapitalisation 
of Shareholder Loan Notes held by the VCTs in ATCL and the payment of a 
special dividend, funded from the company's cash reserves and a senior 
term loan from the Company's incumbent banking partner HSBC. 
 
 
 
 
Company                      GBP 
Foresight VCT plc         1,500,000 
Foresight 3 VCT plc         500,000 
Foresight 4 VCT plc "O"     600,000 
Foresight 4 VCT plc "C"     900,000 
 
 
   Foresight's VCTs majority shareholding in ATCL remains unchanged. 
 
   Since Foresight's investment fifteen months ago, the company has 
performed strongly with sales up 66.6% year on year, and an increase in 
EBITDA of 114%.  Forecasts for the current financial year ending June 
2015 are to see that growth continue. 
 
   ATCL is a precision engineering company, with a niche specialism in the 
remanufacturing of high value aerospace and industrial gas turbine 
components.  In 2012 the company was awarded the coveted Best Repair 
Supplier in the World from a leading aero engine manufacturer. 
 
   Darrel Connell, Director of Foresight and of ATCL commented "We are 
delighted that John Seaton and the new management team have been able to 
deliver such a strong performance in a relatively short period of time 
since our investment.  We are confident that the company 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: bthompson@foresightgroup.eu / 0203 667 8155 
 
   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: Foresight 3 VCT PLC via Globenewswire 
 
   HUG#1859990 
 
 
  http://www.foresightgroup.eu/

Foresight 3 Vct (LSE:FTD)
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