Foresight VCT PLC : Interim Management Statement

Foresight VCT plc
Interim Management Statement for the Quarter Ended 30 September 2013

Foresight VCT plc presents its interim management statement for the quarter ended 30 September 2013.  This constitutes the company's second interim management statement for the financial year ending 31 December 2013, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.

The unaudited net asset value (NAV) per Ordinary Share as at 30 September 2013 was 102.2p (30 June 2013: 103.5p).

The unaudited net asset value (NAV) per Planned Exit Share as at 30 September 2013 was 89.9p (30 June 2013: 91.8p).

The unaudited net asset value (NAV) per Infrastructure Share as at 30 September 2013 was 93.4p (30 June 2013: 95.0p).

The Board is not aware of any significant events or transactions between the date of the NAV and the date of publication of this Interim Management Statement.

The number of Ordinary Shares in issue at 30 September 2013 was 27,436,075.  During the three months ended 30 September 2013, 138,361 Ordinary shares were bought back.

The number of Planned Exit Shares in issue at 30 September 2013 was 6,115,511. There were no share movements during the three months ended 30 September 2013.

The number of Infrastructure Shares in issue at 30 September 2013 was 16,647,858.  There were no share movements during the three months ended 30 September 2013.

Net assets of the Ordinary Shares fund at 30 September 2013 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	24,486	87.4
Quoted investments at bid price	98	0.3
Total venture capital investments	24,584	87.7
Net Current Assets	3,446	12.3
Net Assets	28,030	100.0

Net assets of the Planned Exit Shares fund at 30 September 2013 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	5,109	92.9
Quoted investments at bid price	-	-
Total venture capital investments	5,109	92.9
Net Current Assets	388	7.1
Net Assets	5,497	100.0

Net assets of the Infrastructure Shares fund at 30 September 2013 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	15,153	97.4
Quoted investments at bid price	-	-
Total venture capital investments	15,153	97.4
Net Current Assets	399	2.6
Net Assets	15,552	100.0

Quoted investments are carried at bid price as at 30 September 2013. Unquoted investments are carried at fair value as at 30 September 2013 as determined by the directors.

During the three months ended 30 September 2013 the following significant investment transactions took place (all companies unquoted except where otherwise indicated):

Ordinary Shares Portfolio

New investments:

Name of Company	Business Activity	Amount Invested £'000
Fire and Air Services Limited	Installation and maintenance of fire sprinkler and air conditioning systems	1,500

Follow-on investments:

Name of Company	Business Activity	Amount Invested £'000
Biofortuna Limited	Freeze drying of stabilised enzymes	99
AlwaysOn Limited	Unified communications provider	75

Investment disposals:

Name of Company	Business Activity	Original Cost £'000	Proceeds £'000
Wholesale Efficiency II Limited	Special Purpose Vehicle	1,000	1,000
Leisure Efficiency II Limited	Special Purpose Vehicle	675	675
Corero plc (quoted)	Network security solutions	1,096	101

Planned Exit Shares Portfolio

New and follow on investments:

None

Investment disposals:

Name of Company	Business Activity	Original Cost £'000	Proceeds £'000
Leisure Efficiency Limited	Provision of energy efficiency solutions	115	115

Infrastructure Shares Portfolio

New investment and follow on investments:

None

Investment disposals:

None

For further information please contact:
Gary Fraser, Foresight Group:                            01732 471 800

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Source: Foresight VCT PLC via Thomson Reuters ONE

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