firmenpresse print | Net Asset Value and Portfolio Update
06.11.2009
Net Asset Value and Portfolio Update
Downing Protected VCT III plc
Net Asset Value and Portfolio Update
6 November 2009
Downing Protected VCT III plc announces that its unaudited Net Asset
Values as at 31 October 2009 were as follows:
31 October
2009
Pence
Ordinary Shares
Net asset value per Ordinary Share 1.2
Cumulative distributions per Ordinary Share 89.0
Total Return * 90.2
C Shares and A Shares
Net asset value per C Share 95.6
Net asset value per A Share 0.1
Total return per C Share and A Share 95.7
* Net asset value plus cumulative dividends paid since launch
The unaudited balance sheet as at 31 October 2009 was as follows:
£'000
Fixed Assets 5,685
Current Assets
Debtors 104
Bank 1,297
1,401
Current Liabilities
Creditors (104)
Net Current Assets 1,297
Net Assets 6,982
Represented by :
Ordinary Shares 0.1p each 101
C Shares 0.1p each 7
A Shares 0.1p each 11
Deferred Shares 0.1p each 4
Capital Redemption Reserve 1
Share premium account 6,764
Special Reserve 484
Investment holding losses (492)
Revenue reserve 102
6,982
The unaudited investment portfolio as at 31 October 2009 is
summarised as follows:
ORDINARY SHARE POOL
VCT-Qualifying Investments Cost Valuation % of
£'000 £'000 portfolio
Honeycombe Pubs VCT Ltd 65 - 0.0%
Non-qualifying investments
Vermont Development Ltd 452 25 23.1%
Chapel Street Hotel (2008) LLP 31 31 28.8%
Sanguine Hospitality Ltd 6 6 5.0%
489 62 56.9%
Total investments 554
Cash at bank and in hand 46 43.1%
108 100.0%
C SHARE POOL
VCT-Qualifying Investments Cost Valuation % of
£'000 £'000 portfolio
Bijou Wedding Venues Ltd* 1,015 1,015 14.8%
East Dulwich Tavern Ltd 344 344 5.0%
Westow House Ltd 304 304 4.4%
Atlantic Dogstar Ltd 162 162 2.4%
1,825 1,825 26.6%
Non-qualifying investments
Hoole Hall Country Club Holdings Ltd 1,206 1,206 17.5%
Liongold Contracting Ltd 1,000 1,000 14.6%
Lilliput Development LLP 743 743 10.8%
Thames Club Ltd 500 500 7.3%
Close Imperial Pub Company Ltd 175 175 2.5%
Honeycombe Pubs VCT Ltd 175 175 2.5%
3,799 3,799 55.2%
Total investments 5,624
Cash at bank and in hand 1,250 18.2%
6,874 100.0%
* Part of the investment is non-VCT qualifying
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