3rd Aug 2021 18:49
Net Asset Values and Portfolio UpdatesDowning FOUR VCT plc (the “Company”)LEI: 21380035MV1VRYEXPR95 Net Asset Values and Portfolio Updates3 August 2021
The Company announces that the unaudited Net Asset Values (“NAVs”) of its Share Classes, as at 31 July 2021, were as follows:
| Unaudited | |
| 31 July 2021 | |
| Pence | |
| Generalist Share pool | |
| Net Asset Value (“NAV”) per Generalist Share | 66.5 |
| Cumulative distributions | 2.5 |
| Total Return per Generalist Share | 69.0 |
| Healthcare Share pool | |
| Net Asset Value (“NAV”) per Healthcare Share | 81.5 |
| Cumulative distributions | 2.5 |
| Total Return per Healthcare Share | 84.0 |
| DSO D Share pool | |
| Net Asset Value (“NAV”) per DSO D Share | 10.0 |
| Cumulative distributions | 94.5 |
| Adjusted for Performance Incentive estimate | (0.4) |
| Total Return per DSO D Share | 104.1 |
| DP67 Share pool | |
| Net Asset Value (“NAV”) per DP67 Share | 19.5 |
| Cumulative distributions (since original launch) | 67.8 |
| Total Return per DP67 Share | 87.3 |
The unaudited Balance Sheet of the Company is shown below, followed by a summary of the portfolio of investments held by each Share Class.
UNAUDITED BALANCE SHEET as at 31 July 2021
| Unaudited31 July 2021 | Audited31 March 2021 | |||
| £’000 | £’000 | |||
| Fixed assets | ||||
| Investments | 44,016 | 40,743 | ||
| Current assets | ||||
| Debtors | 406 | 701 | ||
| Cash at bank and in hand | 6,970 | 6,986 | ||
| 7,376 | 7,687 | |||
| Creditors: amounts falling due within one year | (457) | (381) | ||
| Net current assets | 6,919 | 7,306 | ||
| Net assets | 50,935 | 48,049 | ||
| Capital and reserves | ||||
| Called up Share capital | 102 | 102 | ||
| Other reserves | 58 | 58 | ||
| Special reserve | 29,111 | 29,417 | ||
| Share premium account | 20,493 | 20,010 | ||
| Funds held in respect of shares not yet allotted | 346 | 241 | ||
| Revaluation reserve | 1,681 | (1,143) | ||
| Capital reserve – realised | 3,165 | 3,132 | ||
| Revenue reserve | (4,021) | (3,768) | ||
| Total equity Shareholders’ funds | 50,935 | 48,049 | ||
PORTFOLIO SUMMARIES
as at 31 July 2021
| Generalist Share Pool | Cost | Valuation | % ofnet assets |
| Portfolio of investments (unaudited) | £’000 | £’000 | |
| Venture Capital investments | |||
| E-Fundamentals (Group) Limited | 1,342 | 2,760 | 8.64% |
| Imagen Limited | 1,000 | 2,020 | 6.33% |
| Virtual Class Limited (Third Space Learning) | 1,053 | 1,833 | 5.74% |
| Rated People Limited | 1,282 | 1,583 | 4.95% |
| Cornelis Networks, Inc. | 1,402 | 1,294 | 4.05% |
| Streethub Limited (t/a Trouva) | 1,208 | 1,273 | 3.98% |
| Firefly Learning Limited | 1,047 | 1,047 | 3.28% |
| Ecstase Limited (t/a ADAY) | 1,000 | 1,000 | 3.13% |
| Trinny London Limited | 219 | 957 | 2.99% |
| Limitless Technology Limited | 757 | 920 | 2.88% |
| FundingXchange Limited | 1,050 | 786 | 2.46% |
| Hackajob Limited | 784 | 784 | 2.45% |
| Congenica Limited | 734 | 746 | 2.33% |
| Arecor Therapeutics plc^^ | 418 | 743 | 2.32% |
| Ayar Labs, Inc. | 764 | 720 | 2.25% |
| Parsable, Inc. | 766 | 672 | 2.10% |
| Masters of Pie Limited | 667 | 667 | 2.09% |
| Carbice Corporation | 656 | 603 | 1.89% |
| Hummingbird Technologies Limited | 750 | 535 | 1.67% |
| JRNI Limited | 525 | 525 | 1.64% |
| Maverick Pubs (Holdings) Limited | 1,000 | 450 | 1.41% |
| Fenkle Street LLP | 301 | 388 | 1.21% |
| Cambridge Touch Technologies Limited | 459 | 361 | 1.13% |
| Exonar Limited | 550 | 358 | 1.12% |
| Destiny Pharma plc^^ | 500 | 354 | 1.11% |
| Xupes Limited | 933 | 291 | 0.91% |
| Channel Mum Limited | 675 | 278 | 0.87% |
| Empiribox Holdings Limited | 1,563 | 262 | 0.82% |
| FVRVS Limited (t/a Fundamental VR) | 250 | 250 | 0.78% |
| Upp Technologies Group Limited (prev. Volo Commerce) | 1,077 | 242 | 0.76% |
| Lineten Limited | 400 | 209 | 0.65% |
| MIP Diagnostics Limited | 200 | 200 | 0.63% |
| Lignia Wood Company Limited | 1,778 | - | 0.00% |
| Live Better With Limited | 1,211 | - | 0.00% |
| Ormsborough Limited | 900 | - | 0.00% |
| Glownet Limited | 741 | - | 0.00% |
| 29,962 | 25,111 | 78.57% | |
| Liquidity investments | |||
| Downing Strategic Micro-Cap Investment Trust plc^ | 4,269 | 3,050 | 9.54% |
| MI Downing UK Micro-Cap Growth Fund | 124 | 99 | 0.31% |
| 4,393 | 3,149 | 9.85% | |
| 34,355 | 28,260 | 88.42% | |
| Cash at bank and in hand | 3,773 | 11.80% | |
| Other current assets | (71) | (0.22%) | |
| Net assets | 31,962 | 100.0% |
^ listed and traded on the London Stock Exchange^^ listed and traded on AIM
| Healthcare Share Pool | Cost | Valuation | % ofnet assets |
| Portfolio of investments (unaudited) | £’000 | £’000 | |
| Venture Capital investments | |||
| Arecor Therapeutics plc^^ | 1,533 | 2,726 | 17.04% |
| GENinCode plc^^ | 1,202 | 2,165 | 13.53% |
| Adaptix Limited | 1,056 | 1,381 | 8.63% |
| Open Bionics Limited | 1,000 | 1,379 | 8.61% |
| Congenica Limited | 1,184 | 1,215 | 7.59% |
| Future Health Works Limited (t/a MyRecovery) | 528 | 556 | 3.48% |
| The Electrospinning Company Limited | 478 | 544 | 3.40% |
| Destiny Pharma plc^^ | 750 | 530 | 3.31% |
| FVRVS Limited (t/a Fundamental VR) | 500 | 500 | 3.13% |
| Invizius Limited | 500 | 500 | 3.13% |
| DiA Imaging Analysis Limited | 415 | 405 | 2.53% |
| Cambridge Respiratory Innovations Limited | 400 | 400 | 2.50% |
| MIP Diagnostics Limited | 200 | 200 | 1.25% |
| Live Better With Limited | 1,106 | - | 0.00% |
| 10,852 | 12,501 | 78.13% | |
| Liquidity Investments | |||
| Downing Strategic Micro-Cap Investment Trust plc^ | 729 | 520 | 3.25% |
| MI Downing UK Micro-Cap Growth Fund | 40 | 32 | 0.20% |
| 769 | 552 | 3.45% | |
| 11,621 | 13,053 | 81.58% | |
| Cash at bank and in hand | 2,872 | 17.95% | |
| Other current assets | 75 | 0.47% | |
| Net assets | 16,000 | 100.0% |
^ listed and traded on the London Stock Exchange^^ listed and traded on AIM
| DSO D Share pool | Cost | Valuation | % ofnet assets |
| Portfolio of investments (unaudited) | £’000 | £’000 | |
| Venture Capital investments | |||
| Fresh Green Power Limited | 189 | 279 | 35.36% |
| Pearce and Saunders Limited | 275 | 76 | 9.63% |
| Green Energy Production UK Limited | 100 | 66 | 8.37% |
| Pearce and Saunders DevCo Limited | 19 | 19 | 2.41% |
| 583 | 440 | 55.77% | |
| Cash at bank and in hand | 315 | 39.92% | |
| Other current assets | 34 | 4.31% | |
| Net assets | 789 | 100.00% |
| DP67 Share pool | Cost | Valuation | % ofnet assets |
| Portfolio of investments (unaudited) | £’000 | £’000 | |
| Venture Capital investments | |||
| Cadbury House Holdings Limited | 1,409 | 791 | 36.22% |
| Gatewales Limited | 343 | 745 | 34.11% |
| Fenkle Street LLP | 405 | 727 | 33.29% |
| Yamuna Renewables Limited | 400 | - | 0.00% |
| London City Shopping Centre Limited | 99 | - | 0.00% |
| 2,656 | 2,263 | 103.62% | |
| Cash at bank and in hand | 10 | 0.46% | |
| Other current assets | (89) | (4.08%) | |
| Net assets | 2,184 | 100.00% |
Related Shares:
Thames V.2 Dp67