![]() The Manager had expected that many of the portfolio companies would need additional capital to support them through difficult trading conditions resulting from the various lockdowns. It is a great credit to the quality of the management of the portfolio companies that the fallout from the pandemic on these companies has not been more significant. Throughout the last two years, the Manager increased its oversight of the portfolio companies by working more closely with all the businesses and guiding their management teams to minimise any adverse impact of the pandemic. The portfolio continued to perform well during 2021 and was supplemented with new investments and realisations referred to in the Manager’s Review. Many of the portfolio companies successfully navigated the new economic landscape, with some performing extremely strongly and some continuing to be adversely impacted by COVID-19. Whilst market conditions and the COVID-19 pandemic made 20 a challenging period, overall the companies within the portfolio have weathered the storm well.Īfter a sharp drop in portfolio value in the quarter to March 2020, this being at the peak of uncertainty around COVID-19, the Company’s portfolio, in aggregate, saw a recovery by the end of 2020. I am pleased to present the audited Annual Report and Accounts for the year ended 31 December 2021. An interim dividend of 4.2p per share was paid on 18 June 2021, returning £8.1 million to Shareholders.and Ixaris Systems Ltd and partially exited its investment in Accrosoft Limited, realising a total of £12.7 million during the year The Company fully exited its investments in FFX Group Limited, Mologic Ltd.Six new investments totalling £10.0 million and five follow-on investments totalling £3.2 million were made during the year.After adding back the payment of a 4.2p dividend made on 18 June 2021, NAV Total Return per share at 31 December 2021 was 73.3p, representing a positive total return of 18.0% in the year Net Asset Value per share increased by 11.3% in the year from 62.1p at 31 December 2020 to 69.1p at 31 December 2021.Given this change, the comparative results shown throughout the Annual Report and Accounts are for the nine-month period from 1 April 2020 to 31 December 2020 In February 2021, the Company changed its accounting reference date from 31 March to 31 December for operational efficiency reasons.The Annual Report will shortly be available in full at All other statutory information can also be found there. These results were approved by the Board of Directors on 28 April 2022. Foresight Enterprise VCT plc, managed by Foresight Group LLP, today announces the final results for the year ended 31 December 2021.
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