Foresight Group (Foresight) is delighted to announce on behalf of the Board of Foresight VCT plc, the launch of a £30 million Ordinary Share Issue for Foresight VCT plc.
- Diversified portfolio of 27 companies in five UK sectors generating over £200 million of annual revenues.
- Over £40m of dividends paid to shareholders since launch
- Dividend policy : targeting a minimum 5p per share per annum
- Recently announced 7p interim dividend available to shareholders as at 15 March 2016
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Foresight VCT "O” shares has been the best performing VCT since launch in 1997, delivering a total return of 231p (as at 30 September 2015) and paying out more than £40 million in tax-free dividends to shareholders since launch.
In addition, the Board has recently announced the payment of an interim dividend of 7p per share, due on 1 April 2016, and investors who submit applications for the new share issue by 15 March 2016 will lock in that dividend before the Company goes ex-Dividend on 17 March 2016.
Foresight is proud of the dividend performance of Foresight VCT "O” Shares which has averaged more than 7p per share per annum over the past five years on the back of some strong exits.
As one of the UK’s largest VCTs with Net Assets of approaching £80 million following the recent merger with Foresight 2 VCT, investors in Foresight VCT "O” Shares can tap into a portfolio of 27 maturing companies generating annual revenues of over £200 million per annum. The greater scale of the Company means it is well placed to make growth capital investments in UK SMEs under the new VCT regulations.
Mike Currie, Partner and Head of Retail Sales at Foresight, said: "Having been involved in raising funds for Foresight VCT since it was known as Foresight Technology VCT back in 1997, I am particularly proud of the performance the VCT has been able to deliver to shareholders since then and we continue to work hard to deliver attractive tax-free dividends for our shareholders.”
For further information, please contact:
Ben Thompson: firstname.lastname@example.org / 020 3667 8155
Notes to editors:
Foresight Group is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.
Foresight has £1.8 billion of assets under management across a number of funds, including Listed Vehicles, Limited Partnerships, Business Property Relief (BPR, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).
Foresight’s private equity team, comprised of eleven investment professionals, invests between £1m and £5m in growth capital investments in UK SMEs.