Downing Protected VCT I plc
Interim Management Statement for the three months ended 30 September
2007 - Replacement
The announcement released by the Company entitled "Interim
Manangement Statement" at 10:15 today as HUG1169287 incorrectely
stated Cumlative Dividend and Total Return at 30 September 2007. The
values should have been 44.65p and 157.05p respectively and not
48.15p and 160.55p as stated in the announcement.
The full corrected text of the announcemnet is as follows:
In accordance with Rule 4.3 of the Disclosure and Transparency Rules
of the UK Listing Authority, Downing Protected VCT I plc presents an
Interim Management Statement for the three month period ended 30
September 2007. The statement also includes relevant financial
information between the end of the period and the date of this
statement.
Dividends paid or declared in the period
On 25 September 2007, the Company declared a final dividend of 3.5p
per Ordinary share to be paid (subject to Shareholder approval) on 7
December 2007 to shareholders on the register at 26 October 2007.
Performance
30 September 30 June 31 December 30 June
2007 2007 2006 2006
Pence Pence Pence Pence
Net Asset Value 112.40 111.70 108.18 108.30
("NAV")
Cumulative Dividends 44.65 44.65 43.15 41.15
Total Return * 157.05 156.35 151.33 149.45
* (NAV plus cumulative dividends paid
since launch)
Investment portfolio summary at 30 September 2007
Portfolio investments by value
Movement
Cost Valuation in period
£'000 £'000 £'000
Venture capital investments (by value)
Downing (Meadows) Limited 580 1,005 -
Bowman Care Homes Limited 1,000 1,000 -
Gatewales Limited 1,000 1,000 -
Heyford Homes VCT Limited 1,000 1,000 -
Kings Gap Limited 1,000 1,000 -
Downing (Pirbright Road) Limited 700 900 -
Kimbolton Lodge Limited 605 900 -
Downing Office Villages Contractor
Limited 850 850 -
Honeycombe Pubs VCT Limited 475 475 -
Congress House Limited 375 375 -
Heyford Homes (Thornton Hall) Limited 195 372 -
Sanguine Hospitality Limited 6 6 -
Dovestone (The Gables) Limited 50 - -
Total 7,836 8,883 -
Investment additions during the 3 months ended 30 September 2007
Cost
£'000
Kings Gap Limited 1,000
Congress House Limited 25
1,025
Investment disposals during the 3 months ended 30 September 2007
Market
value at Gain/(loss) Total
1 July Disposal against realised
Cost 2007 proceeds cost gain/(loss)
£'000 £'000 £'000 £'000 £'000
Cadbury House Hotel
and Country Club
Limited 1,000 1,000 1,000 - -
1,000 1,000 1,000 - -
Changes to share capital
Ordinary Shares
of 50p each
Shares £'000
As at 30 June 2007 8,425,683 4,213
Shares bought back and cancelled - -
As at 30 September 2007 8,425,683 4,213
On 18 October 2007 the Company purchased 53,000 ordinary shares for
cancellation representing 0.63% of the issued share capital at a
price of 100.5p per share. On 9 November 2007 the Company purchased
35,000 ordinary shares for cancellation representing 0.42% of the
issued share capital at a price of 97.0p per share.
Material events
Other than described above, there were no material events during the
period from 1 July 2007 to 30 September 2007 or in the period from 1
October 2007 to the date of this announcement.
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