Foresight 3 VCT plc
Interim Management Statement for the Quarter Ended 30 June 2014
Foresight 3 VCT plc presents its Interim Management Statement for the quarter ended 30 June 2014. This constitutes the company's first Interim Management Statement for the financial year ending 31 March 2015, as required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
At 30 June 2014 there were 51,226,401 Ordinary Shares in issue. There were no shares issued or repurchased during the quarter.
The net assets at 30 June 2014 comprised the following:
| £'000 | % of Net Assets | ||
| Unquoted Investments at fair value as determined by the Directors | 35,376 | 94.1 | |
| Quoted investments at bid price | 208 | 0.6 | |
| Total venture capital investments | 35,584 | 94.7 | |
| Cash & liquid investments | 137 | 0.4 | |
| Other net current assets | 1,858 | 4.9 | |
| Net Assets | 37,579 | 100.0 |
Quoted investments are stated at bid price as at 30 June 2014. Unquoted investments are stated at fair value as at 30 June 2014 as determined by the Directors.
During the three months ended 30 June 2014 the following investment addition and disposals took place:
Investment addition:
| Name of Company | Business Activity | Type of addition | Amount Invested £'000 |
| Biofortuna | Molecular diagnostics business expertise in the important area of enzyme stabilisation, effectively hi-tech freeze drying. | Growth capital | 51 |
Investment disposals:
| Name of Company | Business Activity | Type of disposal | Amount Invested £'000 | Proceeds £'000 |
| Meridian Technique | Creating pre-operative plans from digital x-ray images for orthopaedic surgeons | Loan repayment | 151 | 151 |
| Evance Wind Turbines Limited | UK based manufacturer of small wind turbines | Payment from administrator | 142 | 142 |
| Xention Pharma Limited | Ion channel drug discovery company | Trade sale | 712 | 10 |
For further information please contact:
Gary Fraser, Foresight Group: 020 3667 8100