Foresight VCT PLC : Portfolio update

Foresight VCT plc

Portfolio Update            

Foresight VCT PLC ("Foresight VCT") announces the sale by its Ordinary Share Class of its investment in Alaric Systems Limited ("Alaric"), which provides payment processing and fraud prevention software, to a subsidiary of NCR Corporation.

Foresight VCT Ordinary Share Class has sold its investment of ordinary shares and loan stock in Alaric for GBP7.13 million, of which GBP1.12 million is held in escrow and in the absence of any claims against Alaric should become payable in tranches over the next four years.  The carrying value of the investment in Alaric in Foresight VCT's interim management statement for the period ended 30 September 2013, published on 15 November 2013, was GBP6.375 million. 

This represents a return of over five times original cost and 25% of the net asset value of Foresight VCT Ordinary Share Class as at 30 September 2013.

In consequence, the Board will be considering a further distribution to investors and will make an announcement in due course.

For further information please contact:

Gary Fraser, Foresight Group: 01732 471800

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Foresight VCT PLC via Globenewswire

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