Investment Update

TriVest VCT PLC 4 April 2001 TriVest VCT Plc Investment Update and date for Close of Offer for Subscription TriVest VCT Plc (the Company) is pleased to announce 3 further investments made during March, details of which are enclosed below. Heritage Image Partnership Limited ('HIP') HIP is creating an online library of images available to all customers over the internet and has exclusive access to content from five heritage institutions; the British Library, the Science Museum, the National Railways Museum and the National Museum of Photography, Film and Television. Images will be sold to media companies and advertising and design companies. The Company has invested £300,000 in HIP in return for 6.2 per cent. of the equity. The net proceeds of the fund raising will be utilised principally for working capital. HIP has not yet produced audited accounts. Xpert Client Systems Limited ('Xpert') Xpert is a provider of software asset management tools. The Company has developed innovative technology which automatically builds a profile of the actual image of software by each user and compares it with the inventory of software installed on each PC and the licences owned. This enables customers to monitor legal compliance with their software licences. Xpert's products are installed on 25,000 PCs in over 100 companies including Racal, Volvo, Fujitsu and Sony. The company has invested £250,000 in Xpert as part of a £1.75 million fundraising, in return for 4.7% of the equity. The net proceeds of the fund raising will be utilised for capital expenditure and working capital. The last audited accounts were for the period to 31 July 2000 and recorded: loss before taxation £320,880, retained loss £775,000, net assets £287,249. Watkins Books Limited ('Watkins') Watkins is a specialist supplier of books with an international brand name. The Company has invested £500,000 through the issue of ordinary shares and £200,000 of Convertible Secured Loan Stock 2006 with an option for Watkins to call down a further £250,000 if the company is performing as per its business plan but needs further financing for expansion. The proceeds from the fundraising will provide Watkins with an opportunity to develop its brand through all mediums be it e-commerce or traditional forms of mail order and retail. The last audited accounts were for the period ending 31 March 2000 and recorded: loss before taxation £35,137 and net assets of £73,868. The Company also announces that its Offer for Subscription, announced on 13 October 2000 will close on 6 April 2001.
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