Interim Management Statement

RNS Number : 5319I

Foresight VCT PLC

19 November 2008

 



Foresight VCT plc

Interim Management Statement for the Quarter Ended 30 September 2008

Foresight VCT plc presents its interim management statement for the quarter ended 30 September 2008. This constitutes the company's second interim management statement for the financial year ending 31 December 2008, 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 2008 was 46.5p (30 June 2008: 51.3p).  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 2008 was 46,235,252. During the three months ended 30 September 2008 no shares were issued and no shares were re-purchased by the company for cancellation.

Net assets at 30 September 2008 comprised the following:

	£'000	% of Net Assets
Unquoted Investments at fair value as determined by the Directors	12,423	57.9
Quoted investments at bid price	4,456	20.7
Total venture capital investments	16,879	78.6
Net Current Assets	4,599	21.4
Net Assets	21,478	100.0

Quoted investments are carried at bid price as at 30 September 2008. Unquoted investments are carried at fair value as at 30 September 2008 as determined by the directors.

During the three months ended 30 September 2008 the following significant investment transactions took place (all companies unquoted except where otherwise indicated):

New and follow-on investments:

Name of Company	Business Activity	Amount Invested £'000
Closed Loop London	Food grade plastics recycling	1,000
Alaric Systems	Bank payment processing systems	66

Investment disposals:

Name of Company	Business Activity	Original Cost  £'000	Proceeds £'000
Mirada plc	IT and media software	187	1

For further information please contact:

Gary Fraser, Foresight Group:                                                        01732 471 800

 

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