16th Apr 2015 12:19
LONDON (Alliance News) - Triple Point, a venture capital investment manager, has sold a "significant" amount of its portfolio of solar assets, prompting several of the venture capital trusts it manages to report the deal to the market on Thursday.
"Venture capital funds have played an important part in the solar industry and we are pleased to have built a seasoned portfolio that is now of interest to institutional investors. Today we have announced the sale of a significant part of the portfolio of solar assets, at a price which is expected to enhance returns to investors," Claire Ainsworth, Triple Point's managing partner, said in a statement.
TP70 2010 VCT PLC said: "The disposal price is expected to result in a significant enhancement to the valuation of TP70 2010 VCT PLC's investments in the companies, which the board estimates is equivalent to an uplift to the unaudited net asset value of 10 pence per share. This is expected to increase total shareholder return (unaudited net asset value plus dividends paid), as last reported on 30 November 2014, from 87.74 pence per share to 97.74 pence per share."
TP10 VCT PLC said: "The disposal price is expected to result in a significant enhancement to the valuation of TP10 VCT PLC's investments in the companies, which the board estimates is equivalent to an uplift to the unaudited net asset value of 9 pence per share. This is expected to increase total shareholder return (unaudited net asset value plus dividends paid), as last reported on 30 November 2014, from 97.71 pence per share to 106.71 pence per share."
TP5 VCT PLC said: "The disposal price is expected to result in a significant enhancement to the valuation of TP5 VCT PLC's investments in the companies, which the board estimates is equivalent to an uplift to the unaudited net asset value of 7 pence per share for the Ordinary Share Class and 5 pence per share for the B Ordinary Share Class. This is expected to increase total shareholder return (unaudited net asset value plus dividends paid), as last reported on 31 December 2014, from 92.54 pence per share to 99.54 pence per share for the Ordinary Share Class and from 89.85 pence per share to 94.85 pence per share for the B Ordinary Share Class."
Triple Point VCT 2011 PLC said: "The disposal price is expected to result in a significant enhancement to the valuation of Triple Point VCT 2011 PLC's investments in the companies, which the board estimates is equivalent to an uplift to the unaudited net asset value of 15 pence per share for the Ordinary Share Class. This is expected to increase total shareholder return for the Ordinary Share Class (unaudited net asset value plus dividends paid), as last reported on 30 November 2014, from 100.01 pence per share to 115.01 pence per share."
Triple Point Income VCT PLC said: "The disposal price is expected to result in a significant enhancement to the valuation of Triple Point Income VCT PLC's investments in the companies, which the board estimates is equivalent to an uplift to the unaudited net asset value of 4 pence per share for the Ordinary Share Class and 10 pence per share for the A Ordinary Share Class. This is expected to increase total shareholder return (unaudited net asset value plus dividends paid), as last reported on 31 December 2014, from 84.47 pence per share to 88.47 pence per share for the Ordinary Share Class and from 87.52 pence per share to 97.52 pence per share for the A Ordinary Share Class."
By Samuel Agini; [email protected]; @samuelagini
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