Foresight 3 VCT plc
Interim Management Statement for the Quarter Ended 30 June 2012
Foresight 3 VCT plc presents its interim management statement for the quarter ended 30 June 2012. This constitutes the company's first interim management statement for the financial year ending 31 March 2013, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
The unaudited net asset value (NAV) per ordinary share as at 30 June 2012 was 77.9p (31 March 2012: 77.5p).
At 30 June 2012, there were 51,044,160 Ordinary Shares in issue. During the three months ended 30 June 2012 there were 9,487,550 shares issued. Of this amount, 8,490,436 shares were as part of the open offer (and tender offer) and 997,114 were a further issue of new shares. There were also 8,753,756 share repurchased in the period in relation to the open offer (and tender offer).
The net assets at 30 June 2012 comprised the following:
| £'000 | % of Net Assets | ||
| Unquoted Investments at fair value as determined by the Directors | 34,114 | 85.8 | |
| Quoted investments at bid price | 1,521 | 3.8 | |
| Total venture capital investments | 35,635 | 89.6 | |
| Cash & liquid investments | 1,786 | 4.5 | |
| Other net current assets | 2,367 | 5.9 | |
| Net Assets | 39,788 | 100.0 |
Quoted investments are stated at bid price as at 30 June 2012. Unquoted investments are stated at fair value as at 30 June 2012 as determined by the Directors.
During the three months ended 30 June 2012 the following significant investment transactions took place:
Follow-on unquoted investments:
| Name of Company | Business Activity | Amount Invested £'000 |
| 2K Manufacturing | Manufactures plastic boards from low grade mixed waste plastics | 450 |
| AtFutsal Group | Provider of indoor 5-aside football facilities | 196 |
| The Message Pad | Providing outsourced call centre services and technology solutions to businesses of varying sizes and industries. | 190 |
| i-plas Group | Manufactures building products from waste plastic | 150 |
| Ixaris | Operate EntroPay- prepaid payment service that enables people who could not previously pay online to pay any merchant that accepts VISA | 97 |
| Crumb Rubber | Manufacture of fine rubber powder from recycled tyres | 35 |
| Vertal | Recycling food waste to fertilizer | 21 |
New unquoted investment:
| Name of Company | Business Activity | Amount Invested £'000 |
| Flowrite Refrigeration | Refrigeration and air conditioning service | 200 |
Quoted investment disposal:
| Name of Company | Business Activity | Original Cost £'000 | Proceeds £'000 |
| Croma Group | Technology based security services | 610 | 147 |
For further information please contact:
Gary Fraser, Foresight Group: 01732 471 800