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Foresight VCT PLC (FTV)

  Print      Mail a friend       Annual reports

Friday 19 November, 2010

Foresight VCT PLC

Interim Management Statement

Foresight VCT plc
Interim Management Statement for the Quarter Ended 30 September 2010

Foresight  VCT plc  presents its  interim management  statement for  the quarter
ended   30 September   2010.  This  constitutes  the  company's  second  interim
management statement for the financial year ending 31 December 2010, 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 2010
was  50.6p (30  June  2010: 47.3p).  The  unaudited  net  asset  value (NAV) per
Planned Exit Share as at 30 September 2010 was 94.9p (30 June 2010: 95.0p).  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 2010 was 47,741,385.
 During  the three months  ended 30 September 2010 no  shares were issued or re-
purchased by the company for cancellation.

The  number of Planned Exit Shares in issue at 30 September 2010 was 6,179,833.
 During  the three months ended  30 June 2010 4,139,395 Planned Exit Shares were
issued  but  no  Planned  Exit  Shares  were re-purchased  by  the  company  for

Net  assets  of  the  Ordinary  Shares  fund  at 30 September 2010 comprised the
|                                                       |£'000 |% of Net Assets|
|Unquoted Investments at fair value as determined by the|      |               |
|Directors                                              |18,676|           77.4|
|Quoted investments at bid price                        | 4,128|           17.1|
|Total venture capital investments                      |22,804|           94.5|
|Net Current Assets                                     | 1,335|            5.5|
|                                                       |      |               |
|Net Assets                                             |24,139|          100.0|

Net  assets of the  Planned Exit Shares  fund at 30 September 2010 comprised the
|                                                        |£'000|% of Net Assets|
|Unquoted  Investments at fair value as determined by the|     |               |
|Directors                                               |1,813|           30.9|
|Quoted investments at bid price                         |    0|            0.0|
|Total venture capital investments                       |1,813|           30.9|
|Net Current Assets                                      |4,052|           69.1|
|                                                        |     |               |
|Net Assets                                              |5,865|          100.0|

Quoted  investments are carried  at bid price  as at 30 September 2010. Unquoted
investments  are carried at fair value  as at 30 September 2010 as determined by
the directors.

During  the  three  months  ended  30 September  2010 the  following significant
investment   transactions  took  place  (all  companies  unquoted  except  where
otherwise indicated):

Ordinary Shares Portfolio

Follow-on investments:

|Name of Company|Business Activity                       |Amount Invested £'000|
|Land Energy    |Production and sale of wood pellets and |33                   |
|               |construction and operation of combined  |                     |
|               |heat and power biomass plants.          |                     |
|alwaysON       |VOIP for business users                 |30                   |

Investment disposals:

| Name of Company | Business Activity      | Original Cost | Proceeds |
|                 |                        | £'000         |          |
|                 |                        |               | £'000    |
| SmartFOCUS      | Smart e-mail marketing | 41            | 107      |

Planned Exit Shares Portfolio

Follow-on investments:

|Name of Company            |Business Activity           |Amount Invested £'000|
|i-Plas Group               |Manufactures building       |158                  |
|                           |products from waste plastic |                     |
|Closed Loop                |Recycles waste plastic      |67                   |
|                           |bottles into food grade     |                     |
|                           |products                    |                     |
|Foresight  Luxembourg Solar|Solar power electricity     |22                   |
|2                          |generation                  |                     |

Investment disposals:


For further information please contact:

Gary Fraser, Foresight Group:                        01732 471 800


This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
Source: Foresight VCT PLC via Thomson Reuters ONE


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