TIDMTPVE TIDMTPVD TIDMTPVC
RNS Number : 4709C
Triple Point Income VCT PLC
22 February 2022
22 February 2022
Triple Point Income VCT plc
(the " Company ")
NET ASSET VALUES FOR THE QUARTER ENDED 31 DECEMBER 2021
The Company
The Company continues to meet all VCT qualifying conditions in
respect of its portfolio of VCT unquoted qualifying investments and
unquoted and quoted non-qualifying investments.
C Share Class
-- The NAV at 31 December 2021 was 48.89p per share.
-- During the 9-month period to 31 December 2021 the C Share
Class made a loss of 0.17p per share.
-- On 26 November 2021 the C share class disposed of 2 of its
Hydroelectric Power assets with just 1 remaining. On 12 December
2021 the final remaining Hydroelectric Power asset was disposed
of.
-- At 31 December 2021 Net Asset Value plus dividends paid
("Total Shareholder Return") was 156.64p per share.
On 29 November 2021, the Company declared a 32.5p dividend to C
shareholders following the sale of a substantial part of the
Hydroelectric Power portfolio which was paid on 23 December 2021.
This brought total dividends paid to 23 December 2021 to 107.75p
per share.
On 13 December 2021, the Company declared a further 40p dividend
to C shareholders following the remaining Hydroelectric Power
disposal which was paid on 14 January 2022. This brings total
dividends paid to date of 147.75 pence per share.
To align its interests with shareholders, the Investment Manager
earns a performance fee of 20% on all distributions over 100 pence
per share; this fee is only payable when distributions are made.
Therefore, the above 31 December 2021 NAV incorporates the 20%
performance fee on 47.75p of the dividends paid on 23 December 2021
and 14 January 2022.
D Share Class
-- The NAV at 31 December 2021 was 9.89p per share.
-- During the 9-month period to 31 December 2021 the D Share
Class made a loss of 2.94p per share.
-- On 26 November 2021 the D share class disposed of 4 of its
Hydroelectric Power assets with just 1 remaining.
-- At 31 December 2021 the Total Shareholder Return for the D
Share Class was 126.64p per share.
On 29 November 2021, the Company declared a 45p dividend to D
shareholders following the sale of a substantial part of the
Hydroelectric Power portfolio which was paid on 23 December 2021.
This brings total dividends paid to date of 116.75p per share.
To align its interests with shareholders, the Investment Manager
earns a performance fee of 20% on all distributions over 100 pence
per share; this fee is only payable when distributions are made.
Therefore, the above 31 December 2021 NAV incorporates the 20%
performance fee on 16.75p of the dividend paid on 23 December
2021.
E Share Class
-- The NAV at 31 December 2021 was 79.24p per share.
-- During the 9-month period to 31 December 2021 the E Share
Class made a profit of 0.15p per share.
-- On 26 November 2021 the E share class disposed of 5 of its
Hydroelectric Power assets. On 12 December 2021 a further
Hydroelectric Power asset was disposed of with just 1 remaining in
the portfolio.
-- At 31 December 2021 the Total Shareholder Return for the E
Share Class was 106.24p per share.
-- The table below shows the E Share Class investment portfolio by sector at 31 December 2021:
Crematorium Management 2%
Vertical Growing 29%
Quoted Investments 3%
Hydroelectric Power 2%
SME Funding - Hydroelectric
Power 16%
SME Funding - Other 16%
Electricity Generation
- Other 33%
-----------------------------
On 13 December 2021, the Company declared a 5.5p dividend to E
shareholders following the remaining Hydroelectric Power disposal
which was paid on 14 January 2022. This brings total dividends paid
to date of 32.50 pence per share. To align its interests with
shareholders, the Investment Manager earns a performance fee of 20%
on all distributions over 100 pence per share; as this fee is only
payable when distributions are made, it is not accounted for in the
above Net Asset Value.
Net Assets at 31 December 2021:
31-Dec-21
C Shares D Shares E Shares Total
--------- --------- --------
GBP'000 GBP'000 GBP'000 GBP'000
VCT qualifying unquoted
investments - 502 13,866 14,368
VCT non-qualifying
unquoted investments - - 6,674 6,674
VCT non-qualifying
quoted investments - - - 0
--------- --------- ---------
- 502 20,540 21,042
--------- --------- ---------
Cash and cash equivalents 7,833 2,817 2,269 12,919
Total Investments 7,833 3,319 22,809 33,961
Other assets & liabilities (1,276) (1,973) 120 (3,129)
--------- --------- ---------
Net assets 6,557 1,346 22,929 30,832
--------- --------
Net asset value per
share (p) 48.89 9.89 79.24
--------- --------- --------- --------
Net Assets at 31 March 2021:
31-Mar-21
C Shares D Shares E Shares Total
--------- ---------------- --------
GBP'000 GBP'000 GBP'000 GBP'000
VCT qualifying unquoted
investments 11,244 10,036 19,369 40,649
VCT non-qualifying
unquoted investments - - 6,815 6,815
VCT non-qualifying
quoted investments - - 558 558
--------- ----------------
11,244 10,036 26,742 48,022
--------- ---------------- ---------
Cash and cash equivalents 120 17 384 521
---------
Total Investments 11,364 10,053 27,126 48,543
--------- ---------------- ---------
Other assets & liabilities (170) (1,947) 256 (1,861)
--------- ---------------- --------- --------
Net assets 11,194 8,106 27,382 46,682
--------- ---------------- --------- --------
Net asset value per
share (p) 83.30 59.59 94.59
--------- ---------------- --------- --------
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
Triple Point Investment Management Tel: 020 7201 8989
LLP
(Investment Manager)
Jonathan Parr
Belinda Thomas
The Company's LEI is 213800IXD8S5WY88L245
Further information on the Company can be found on its website
https://www.triplepoint.co.uk/current-vcts/triple-point-income-vct-plc/s1238/
.
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END
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February 22, 2022 11:30 ET (16:30 GMT)
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