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Downing Strd Opp 1 (DO1O)

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Thursday 19 July, 2012

Downing Strd Opp 1

Downing Structured Opportunities VCT 1 PLC : In...

Downing Structured Opportunities VCT 1 PLC : Interim Management Statement

Downing Structured Opportunities VCT 1 plc

Interim Management Statement

for the three months ended 30 June 2012

 

19 July 2012

 

In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority, Downing Structured Opportunities VCT 1 plc presents an Interim Management Statement covering the period from 1 April 2012 to 30 June 2012.  The statement also includes relevant financial information between the end of the period and the date of this statement.

 

Performance

Ordinary Share Pool Unaudited

30 June

2012
Audited

31 March

2012
Unaudited

31 Dec

2011
Unaudited

30 Sept

2011
  PencePencePencePence
Net Asset Value per Ordinary Share 100.3 98.7 100.3 99.2
Net Asset Value per 'A' Share 0.1 0.1 0.1 0.1
Cumulative distributions per Ordinary Share 15.0 15.0 12.5 12.5
Total return per Ordinary Share and 'A' Share 115.4113.8112.9111.8

 

'B' Share Pool Unaudited

30 June

2012
Audited

31 March

2012
Unaudited

31 Dec

2011
Unaudited

30 Sept

2011
  PencePencePencePence
Net Asset Value per 'B' Share 85.0 84.9 86.8 87.3
Net Asset Value per 'C' Share 0.1 0.1 0.1 0.1
Cumulative distributions per 'B' Share 10.0 10.0 7.5 7.5
Total return per 'B' Share and 'C' Share 95.195.094.494.9

 

'D' Share Pool Unaudited

30 June

2012
Audited

31 March

2012
Unaudited

31 Dec

2011
  PencePencePence
Net Asset Value per 'D' Share 94.7 94.5 94.4
Total return per 'D' Share 94.794.594.4

 

Dividends paid or declared in the period

The Board has declared final dividends in respect of the year ended 31 March 2012 of 2.5p per Ordinary Share, 2.5p per 'B' Share and 2.5p per 'D' Share to be paid on 28 September 2012, subject to Shareholder approval at the AGM on 25 September 2012.

 

Investment portfolio summary at 30 June 2012 (unaudited)

 

 

 

 

Ordinary Shares
 Cost Valuation Valuation

Movement

from

1 April 2012 to

 30 June 2012
  £'000£'000£'000
Structured Products      
Symphony Structure 3.5yr FTSE 4.85 Call Spread 355 552 12
Elders Capital Accumulator VIII (29A) 486 527 3
Morgan Stanley Synthetic Zero 297 473 -
 1,1381,55215
Venture Capital Investments      
Redmed Limited 1,063 1,063 -
Future Biogas (SF) Limited 909 1,018 -
Domestic Solar Limited 1,000 1,000 -
Bijou Wedding Venues Limited 815 884 -
Atlantic Dogstar Limited 572 806 -
Quadrate Catering Limited 577 577 -
Quadrate Spa Limited 565 565 -
Ecossol Limited 500 500 -
East Dulwich Tavern Limited 459 459 -
Westow House Limited 405 441 -
3D Pub Co Limited 517 362 -
Mosaic Spa & Health Club Limited 250 250 -
Slopingtactic Limited 102 102 -
Camandale Limited 292 82 -
Chapel Street Food and Beverages Limited 75 75 -
Chapel Street Services Limited 75 75 -
Fenkle Street LLP 69 69 -
Chapel Street Hotel Limited 3 3 -
 8,2488,331-
    
Total9,3869,88315

 

 

 

 

 

'B' Shares
 Cost Valuation Valuation

Movement

from

1 April 2012 to

30 June 2012
  £'000£'000£'000
Structured Products      
Barclays 5Y Synthetic Zero 1,003 1,150 10
Elders Capital Accumulator VIII 970 1,054 6
Goldman Sachs 6YR Phoenix Autocall 3 1,003 974 (80)
HSBC US Trade Range 752 925 10
Symphony Structure 3.5yr FTSE 4.85 Call Spread 497 551 12
JP Morgan 8% Defensive FTSE Autocall 356 416 2
  4,5815,070(40)
Venture Capital Investments      
Future Biogas (Reepham Road) Limited 1,476 1,476 -
Quadrate Catering Limited 850 850 -
Quadrate Spa Limited 838 838 -
Antelope Pub Limited 750 806 -
Domestic Solar Limited 800 800 -
Kidspace Adventures Holdings Limited 750 750 -
Alpha Schools Holdings Limited 733 733 -
Avon Solar Energy Limited 500 500 -
Ecossol Limited 500 500 -
Green Electricity Generation Limited 500 500 -
Westcountry Solar Solutions Limited 500 500 -
Liverpool Nurseries (House) Limited 406 406 -
Mosaic Spa and Health Club (Shrewsbury) Limited 350 350 -
Progressive Energies Limited 340 340 -
Slopingtactic Limited 277 277 -
Liverpool Nurseries (Greenbank) Limited 276 276 -
Kidspace Adventures Limited 270 270 -
Mosaic Spa and Health Clubs Limited 250 250 -
Camandale Limited 795 224 -
Fenkle Street LLP 185 185 -
Commercial Street Hotel Limited 185 185 -
Ridgeway Pub Company Limited 137 137 -
Liverpool Nurseries (Cottage) Limited 135 135 -
Liverpool Nurseries (Holdings) Limited 118 118 -
 11,92111,406-
    
Total16,50216,476(40)

 

 

 

 

 

'D' Shares
 Cost Valuation Valuation

Movement

from

1 April 2012 to

 30 June 2012
  £'000£'000£'000
Structured Products      
Barclays 8% FTSE/S&P Worst -Of Def AC 752 763 5
Goldman Sachs 9.6% Reservoir Autocall 558 566 8
Credit Suisse 7.25% FTSE Autocall 523 525 5
JPMorgan 7% Defensive FTSE AC 517 519 4
UBS 8.15% Defensive FTSE Autocall 501 510 9
 2,8512,88331
Venture Capital Investments      
Tor Solar PV Limited 768 768 -
City Falkirk Limited 562 562 -
Vulcan Renewables Limited 560 560 -
Fubar Stirling Limited 357 357 -
Fresh Green Power Limited 200 200 -
Green Energy Production UK Limited 100 100 -
Cheers Dumbarton Limited 64 64 -
Lochrise Limited 17 17 -
 2,6282,628-
      
Total5,4795,51131

 

Investment activity during the three month period ended 30 June 2012

Ordinary Share Portfolio Investment additionCost
  £'000
Quadrate Spa Limited 22

 

'B' Share Portfolio Investment additionCost
  £'000
Quadrate Spa Limited 33
Liverpool Nurseries (Holdings) Limited 115
  148

 

'D' Share Portfolio Investment additionsCost
  £'000
Tor Solar PV Limited 768
Vulcan Renewables Limited 560
Fresh Green Power Limited 200
Green Energy Production UK Limited 100
Goldman Sachs 9.6% Reservoir Autocall 558
UBS 8.15% Defensive FTSE Autocall 501
  2,687

 

'B' Shares Portfolio Investment disposalCostDisposal

proceeds
Gain

against

cost
Realised

gain

in the

 period
 £'000  £'000  £'000  £'000
Barclays 6Y 10% Def FTSE Autocall 291 348 57 9

 

There were no Ordinary Share or 'D' Share portfolio investment disposals in the three month period ended 30 June 2012.

 

Investment activity from 1 July 2012 to the date of this report

There were no Ordinary Share, 'B' Share or 'D' Share portfolio investment additions or disposals from 1 July 2012 to the date of this report.

Changes to share capital

There have been no changes to the Ordinary, 'A', 'B' or 'C' share capital during the period from 1 April 2012 to the 30 June 2012 or during the period from 1 July 2012 to the date of this announcement.

 

During the period from 1 April 2012 to 30 June 2012 2,737,418 'D' shares of 1p each were issued at 100.0p per share.

 

On 9 July 2012 37,200 'D' shares of 0.1p each were issued at 100.0p per share.

 

Material events

Other than described above, there were no material events during the period from 1 April 2012 to 30 June 2012 or in the period from 1 July 2012 to the date of this announcement.




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Source: Downing Structured Opportunities VCT 1 PLC via Thomson Reuters ONE

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