Chrysalis VCT plc
Interim Management Statement
for the three months ended 31 January 2014
In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UK Listing Authority, Chrysalis VCT plc presents an Interim Management Statement for the three month period ended 31 January 2014. The statement also includes relevant financial information between the end of the period and the date of this statement.
Performance
| 31 January 2014 | 31 October 2013 | |
| (Unaudited) | (Audited) | |
| Pence | Pence | |
| Net Asset Value | 83.5 | 83.5 |
| Cumulative Dividends | 40.7 | 40.7 |
| Total Return | 124.2 | 124.2 |
Dividends paid or declared in the period
On 14 February 2014 the Board declared a final dividend of 3.25p per Ordinary Share to be paid on 30 April 2014. The dividend is subject to Shareholder approval at the Annual General Meeting on 9 April 2014.
Unaudited investment portfolio summary at 31 January 2014
| Cost | Valuation | Valuation movement between 1 Nov 2013 and 31 Jan 2014* | |
| £'000 | £'000 | £'000 | |
| Venture capital investments | 12,712 | 16,778 | 6 |
| Fixed income securities | 2,634 | 2,631 | (11) |
| Total investments | 15,346 | 19,409 | (5) |
*After accounting for additions and disposals in the period
Investment additions during the three month period ended 31 January 2014
| £'000 | |
| Bonds | |
| Intermediate Capital Group plc 7% 21/12/2018 | 745 |
| LBG Capital No.1 plc 7.8673% 17/12/2019 | 724 |
| Provident Financial plc 7% 04/10/2017 | 741 |
| Venture Capital | |
| North Promotions Limited | 956 |
| 3,166 |
Since the period end, the Company has invested £250,000 into K10 (London) Limited.
Investment disposals during the three month period ended 31 January 2014
| Cost | Value at 1 Nov 2013* | Disposal proceeds | Gain/(loss) in period against cost | Total realised gain | |
| £'000 | £'000 | £'000 | £'000 | £'000 | |
| Autocue Group Limited | 200 | 200 | 200 | - | - |
| Best of the Best plc | 81 | 64 | 70 | (11) | 6 |
| Triaster Ltd | 92 | 92 | 92 | - | - |
| Liquidation proceeds | |||||
| Aerialcell Limited | - | - | 60 | 60 | 60 |
| 373 | 356 | 422 | 49 | 66 |
*After accounting for purchases in the period.
There have been no material disposals between 1 February 2014 and the date of this announcement.
Changes to share capital
| Ordinary Shares of 1p each | ||
| Shares | £'000 | |
| As at 1 November 2013 | 29,917,025 | 299 |
| Shares bought back and cancelled | - | - |
| As at 31 January 2014 | 29,917,025 | 299 |
There have been no share buybacks between 1 February 2014 and the date of this announcement.
Material events
Other than described above, there were no material events during the period from 1 November 2013 to 31 January 2014 or in the period from 1 February 2014 to the date of this announcement.