CR5 Core Vct V

 
TIDMCR5 
 
From: Core VCT V PLC 
 
Date: 3 May 2012 
 
 
 
 
 
Interim Management Statement for the quarter ended 31 March 2012 
 
 
 
 
 
Quarterly Management Review 
 
Set  out below is the interim management statement ("IMS") for the period from 
1 January  2012 to 31 March 2012, which contains  information that covers this 
period,  and up to  the date of  publication of this  IMS.  Core VCT  V plc is 
publishing  this IMS in accordance  with DTR 4.3 of the  FSA Handbook.  As the 
Company  owns  a  subsidiary  which  holds  a  partnership  interest  in an LP 
consolidated accounts have been prepared. 
 
 
 
This  IMS  has  been  produced  solely  to  provide  additional information to 
shareholders  as a body  to meet the  relevant requirements of  the UK Listing 
Authority's  Disclosure and Transparency Rules.  It  should not be relied upon 
by any other party or for any other purpose. 
 
 
 
Performance Summary Ordinary Shares 
 
                                               31 March 31 December 
 
                                                   2012        2011 
 
Net asset value per share                   60.76 pence 61.14 pence 
 
Total return to date per share(1)           78.26 pence 78.64 pence 
 
Share price (mid-market)                    45.00 pence 45.00 pence 
 
Cumulative dividends paid                   17.50 pence 17.50 pence 
 
 
 
 1. Total  return per share  comprises closing net  asset value per share plus 
    cumulative dividends per share paid to date. 
 
 
 
 
 
Investments 
 
During  the quarter no  investments were purchased  or realised.  The value of 
the  Group's investment in  Core Capital I  LP was reduced  by  GBP40,000 in line 
with  the  quarterly  report  prepared  by  the  Manager.   This  represents a 
reduction of 0.36p per ordinary share. 
 
 
 
The  cash balance at the  end of the quarter  was  GBP0.5 million, or 6.7% of net 
assets.   The Group's investment in Core Capital I LP has uncalled commitments 
of   GBP15.5 million  at the  quarter end,  available to  support the investments 
within the Fund. This will be drawn from the other institutional investors. 
 
 
 
Holdings as % of Net Assets 
 
 
 
                                               31 March 31 December 
 
                                                   2012        2011 
 
Core Capital I LP                                 33.7%       34.1% 
 
Allied International Holdings Limited             30.0%       29.9% 
 
Pureleaf  Limited (trading as Momentous Moving 
Excellence)                                       15.0%       14.9% 
 
Camwatch Limited                                  14.9%       14.8% 
 
Cording Land LLP                                   0.1%        0.1% 
 
 
 
Share Capital 
 
The  Company has not issued or bought  back any shares during the period.  The 
Company's issued share capital currently stands at 11,024,969 ordinary shares. 
 
 
 
As  is common in Venture  Capital Trusts, there is  little if any liquidity in 
the  Company's shares, and although the Directors  are able to buy back shares 
within  certain  constraints,  this  is  intended  for use only in exceptional 
circumstances.   Accordingly,  those  investors  who  seek to realise value by 
selling  their  shares  in  the  secondary  market  are  likely  to  suffer  a 
significant discount and potential loss of value.  Shareholders might consider 
holding their shares with a view to benefiting from future realisations. 
 
 
 
Outlook 
 
We  are not intending to  make any new investments  in either the Fund or Core 
VCT  V, but to deploy the remaining capital and undrawn commitments within the 
Fund  into  supporting  the  growth  of  the existing investment portfolio and 
managing these through to exit. 
 
 
 
 
 
For further information please contact: 
 
 
 
Stephen         Core Capital LLP:  020 3179 0915 
Edwards, 
 
Rhonda Nicoll,  Company Secretary: 020 3179 0930 
 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Core VCT V plc via Thomson Reuters ONE 
[HUG#1608429] 
 

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