Downing Planned Exit VCT III plc
Interim Management Statement
for the quarter ended 31 October 2009
In accordance with Rule 4.3 of the Disclosure and Transparency Rules
of the UK Listing Authority, Downing Planned Exit VCT II plc presents
an Interim Management Statement for the quarter period ended 31
October 2009. The statement also includes relevant financial
information between the end of the period and the date of this
statement.
Change of Name
On 8 December 2009, the Company changed its name from Downing
Protected VCT iII plc to Downing Planned Exit VCT 3 plc.
Dividends paid or declared in the period
On 2 August 2009, the Company declared a capital dividend of 8.0p per
Ordinary share which was paid on 28 August 2009.
Performance
Ordinary shares
31 Oct 2009 31 July 2009 31 Jan 2009
Pence Pence Pence
Net Asset Value ("NAV") per 1.2 9.3 36.3
Ordinary share
Cumulative dividends per 89.0 81.0 60.0
Ordinary share
Total return per Ordinary share* 90.2 90.3 96.3
'C' shares
31 Oct 31 July 2009
2009
Pence Pence
NAV per 'C' share 95.6 94.2
NAV per 'A' share 0.1 0.1
Total Return per 'C' share and 'A' share* 95.7 94.3
* NAV plus cumulative dividends paid since launch
Investment portfolio summary at 31 October 2009
Portfolio investments by value
Ordinary share pool
Movement
from
1 Aug 2009 to
Valuation 31 Oct 2009
£'000 £'000
Non qualifying venture capital
investments
Chapel Street Hotel (2008) LLP 32 -
Vermont Development Limited 25 -
Sanguine Hospitality Limited 5 -
Total 62 -
'C' share pool
Movement
from
1 Aug 2009 to
Valuation 31 Oct 2009
Qualifying venture capital investments £'000 £'000
Westow House Limited 304 -
Atlantic Dogstar Limited 162 -
East Dulwich Tavern Limited 344 -
Bijou Wedding Venues Limited 665 -
1,475 -
Non qualifying venture capital
investments
Hoole Hall Country Club Holdings Limited 1,207 -
Liongold Acquisitions Limited 1,000 -
Thames Club 500 -
Honeycombe Pubs VCT plc 175 -
Close Imperial Pub Company 175 -
Lilliput Development LLP 742 -
Bijou Wedding Venues Limited 350 -
4,149 -
Total 5,624 -
Investment additions
The Ordinary shares made no investment additions or disposals during
the three months ended 31 October 2009, or in the period from 1
November 2009 to the date of this announcement. The 'C' share pool
additions are summarised as follows:
'C' share investment additions during the 3 months ended 31 Cost
October 2009
£'000
Downing Acquisition 1 Limited 375
Lilliput Development LLP 742
Bijou Wedding Venues Limited 1,015
Westow House Limited 304
Atlantic Dogstar Limited 162
East Dulwich Tavern Limited 344
2,942
'C' Share investment disposals during the three months to 31 October
2009
Market Gain Total
value at Disposal against realised
Cost 1 Aug 2009 proceeds cost gain
£'000 £'000 £'000 £'000 £'000
Downing Acquisition 1
Limited 375 375 375
Coastal Partnerships Ltd 330 330 330 - -
705 705 705 - -
Changes to share capital
'Ordinary' Shares 'C' Shares 'A' Shares
of 1p each of 0.1p each of 0.1p each
Shares £'000 Shares £'000 Shares £'000
As at 31 July 2009 10,064,617 101 6,777,113 7 14,277,113 15
Shares issued - - 396,263 - 396,263 -
As at 31 October 10,064,617 101 7,173,376 7 14,673,376 15
2009
Material events
Other than described above, there were no material events during the
period from 1 August 2009 to 31 October 2009 or in the period from 1
November 2009 to the date of this announcement.
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solely responsible for the content of this announcement.
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