Quester VCT plc
17 January 2008
Quester VCT plc ('the Company')
Interim Management Statement
This Interim Management Statement for the quarter ended 30 November 2007, is
unaudited and is provided in accordance with Rule 4.3 of the Disclosure and
Transparency Rules of the UK Listing Authority. The statement also includes
relevant information from the period from 1 December 2007 to the date of issue.
The Statement has been prepared solely to provide additional information in
order to meet the relevant requirements of the UK Listing Authority's
Disclosure and Transparency Rules, and should not be relied on by Shareholders,
or any other party, for any other purpose.
Net Asset Value (NAV) and Dividends
The NAV as at 30 November 2007 was 31.9p per share. This is before the payment
of an interim dividend of 1.4p per share in respect of the current period on 7
December 2007 and does not take into account the disposal of Nomad Payments
Limited that was announced on 10 January 2008 and is referred to below.
Venture Capital Investments
During the quarter the Company made five follow-on investments of £740,000. Two
new unquoted investments were made totalling £1,051,000 of which £1,000,000 was
invested in Skinkers Limited. Skinker's information broadcast technology is the
world's first enterprise class, multi channel message and content delivery
No realisations were recorded in the quarter ended 30 November 2007.
Since the quarter end, three follow-on investments totalling £570,000 and one
new investment of £210,000 have been made. On 10 January 2008, the Company sold
its entire stake in Nomad Payments Limited for £7.3 million realising a profit
of £3.7 million. The transaction has the effect of increasing the net asset
value of the Company by 3.2p per share.
The number of ordinary shares in issue at 30 November 2007 was 113,641,420.
During the quarter ended 30 November 2007, 671,236 shares were bought back.
Since the 30 November 2007 a further 188,150 shares have been bought back.
As reported in the Half Yearly Financial Statement, the name of the manager was
changed from Quester Capital Management Limited to SPARK Venture Management
Limited on 24 October 2007 and it is intended to approach shareholders at the
2008 Annual General Meeting to seek a name change of the Company to SPARK VCT
The Company's year end has been changed to 31 December and the audited results
will be reported in April 2008. Other than described above, the Board is not
aware of any events during the period from 30 November 2007 to the date of this
statement, which would have had a material impact on the financial position of
Issued on behalf of the Board
17 January 2008