The managers of Foresight VCT 4 have declared a dividend of 5p per share for the year ending in February, to be paid in December. The announcement follows interim results that showed an increase in the trust’s net asset value of 4.6 per cent year-on-year, to 103.2p.
The managers of Foresight VCT 4 have declared a dividend of 5p per share for the year ending February 2008, to be paid in December 2007. The announcement follows interim results that showed an increase in the trust’s net asset value of 4.6 per cent year-on-year, to 103.2p.
Foresight’s managing partner Bernard Fairman comments: ‘The overall performance of the fund, represented by an increase in net asset value total return of over 21 per cent, highlights the significant progress we have made since taking over the fund in July 2004 [from Advent Venture Partners].’
Fairman’s outlook for the next six months remains bullish. He adds: ‘The market in which Foresight VCT 4 operates remains robust and we continue to see a strong flow of investment opportunities. The M&A market also remains buoyant and we believe that there are continuing good opportunities for further exits.’
In the six months to August 2007, Foresight VCT 4 made four new investments, committing total funds of £2.1 million, plus eight follow-on investments totalling £1.3 million. The new investments included Loughborough-based Iskra Wind Turbines, which manufactures tree-sized wind turbines for use by individual households, and O-Gen, a company which owns and operates plants to convert organic matter into combined heat and power.
The VCT generated £1.4 million through two realisations during the period: the exit of dental chain Oasis Healthcare for £539,000 and the sale of its holding in facilities services business Covion to Balfour Beatty for £850,000.