TP10 VCT Plc Trading Update (7520R)
30 Junho 2015 - 1:27PM
UK Regulatory
TIDMTP10
RNS Number : 7520R
TP10 VCT Plc
30 June 2015
TP10 VCT PLC
Trading Update
London 30 June 2015: The Board of TP10 VCT plc (the "Company")
has today announced the disposal of a number of its
investments.
In accordance with its investment policy, the Company
co-invested in a number of solar companies which have recently
disposed of a significant part of their assets. The Company's
investments in the solar companies were realised through the
receipt of payments in respect of the Company's loans and through
the sale of its shares in those solar companies to Aphelion One
Limited ("Aphelion"), a newly incorporated company that is
beneficially owned by the partners of Triple Point Investment
Management LLP, the Company's investment manager (the "Manager")
and which is, therefore, a related party to the Company under
Listing Rule 11.1.4.
Before adjustments for the realisation of some assets and
liabilities the aggregate amount payable by Aphelion is GBP495,888
as derived from the net asset values of the solar companies as set
out in their management accounts to 15 May 2015. These were
prepared by independent third party accountants.
The disposals are smaller related party transactions under
Listing Rule 11.1.10 and have been verified independently as being
fair and reasonable so far as the Company's shareholders are
concerned.
For further information, please contact David Burton at Triple
Point, on 020 7201 8989.
- Ends -
About Triple Point
Triple Point is a private investment specialist with experience
in managing venture capital funds typically through Venture Capital
Trusts and companies qualifying under the Enterprise Investment
Scheme, with over GBP300 million under management.
In addition to funding small renewable energy ventures across
the UK, Triple Point provides private capital for a range of
enterprises from small private equity investments to asset finance
solutions for large, established organisations. With access to
capital sourced from private individuals Triple Point offers
advantages to organisations whose requirements are not being
satisfactorily met by standard providers and products.
www.triplepoint.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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