REG-Foresight 4 VCT PLC : Interim Management Statement

Wed Mar 6, 2013 12:56pm EST

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Foresight 4 VCT plc
Interim Management Statement for the Quarter Ended 31 December 2012

Foresight 4 VCT plc presents its Interim Management Statement for the quarter ended 31 December
2012.  This constitutes the company's second Interim Management Statement for the financial year
ending 31 March 2013, 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 31 December 2012 was 92.6p (30
September 2012: 95.1p).

 

At 31 December 2012, there were 37,800,729 ordinary shares in issue. During the three months ended
31 December 2012 there were no shares issued.

There were 120,000 Ordinary shares repurchased during the period.

 

The unaudited net asset value (NAV) per C share as at 31 December 2012 was 89.8p (30 September
2012: 93.0p).

 

At 31 December 2012, there were 18,744,740 C shares in issue. During the three months ended 31
December 2012 there were no shares issued.

There were no shares repurchased during the period.

The net assets of the Ordinary Shares at 31 December 2012 comprised the following:

                                                                      £'000   % of Net Assets  
 Unquoted Investments at fair value as determined by the Directors   28,208               80.6 
 Quoted investments at bid price                                      1,187                3.4 
 Total venture capital investments                                   29,395               84.0 
 Net Current Assets                                                   5,604               16.0 
 Net Assets                                                          34,999              100.0 


The net assets of the C Shares at 31 December 2012 comprised the following:

                                                                      £'000   % of Net Assets  
 Unquoted Investments at fair value as determined by the Directors   15,599               92.6 
 Quoted investments at bid price                                          0                  0 
 Total venture capital investments                                   15,599               92.6 
 Net Current Assets                                                   1,238                7.4 
 Net Assets                                                          16,837              100.0 


Quoted investments are stated at bid price as at 31 December 2012.  Unquoted investments are
stated at fair value as at 31 December as determined by the Directors.

During the three months ended 31 December 2012 the following significant investment transactions
took place (all companies unquoted except where otherwise indicated):

Ordinary Shares Portfolio

New and follow-on investments:

 Name of Company    Business Activity          Amount Invested   
                                               £'000             
 The Bunker         Ultra Secure data centres  52                
 Snell Corporation  Digital solutions          4                 


Investment disposals:

 Name of Company  Business Activity                                      Original Cost   Proceeds  
                                                                         £'000           
 £'000   
 Crumb Rubber     Manufactures building products from waste plastic      23              23        
 i-Plas           Manufacture of fine rubber powder from recycled tyres  81              81        


C Shares Portfolio

New and follow-on investments:

 Name of Company  Business Activity                                   Amount Invested   
                                                                      £'000             
 The Fin Machine  Manufacturer or special- purpose capital equipment  500               


The turnaround at Fin Machine, the "C" Share fund's largest single investment, continues to make
progress, albeit slower than planned, with a much reduced rate of loss, positive EBITDA having
been generated throughout the second half of 2012.  Reflecting continuing working capital
requirements, a further £500,000 loan was advanced by Foresight 4 C in October 2012. In February
2013 the management team was strengthened with the appointment of a new CEO and Group Finance
Director.

Investment disposals:

There were no disposals during the period.

For further information please contact:
Gary Fraser, Foresight Group:                            01732 471 800



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Source: Foresight 4 VCT PLC via Thomson Reuters ONE


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