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VM_AV_spring_10

VIEWS: 5 PAGES: 6

									                  In this issue
                  The Albion Track Record

                  Harrogate Hotel Offer




venture
                  Portfolio Updates




matters           Spring 2010




Happy               It is now a year
                  since Albion Ventures

1st Birthday      was launched, and
                  its management

Albion Ventures   acquired Close’s VCT
                  business.
 our news

Welcome to the sPRing 2010 issue of Venture Matters


     Albion in the press
       Albion Development VCTs D share issue was recently
     rated 9/10 in a review in Money Marketing Magazine.
     For a full copy of the article, please visit the news
     section of our website www.albion-ventures.co.uk

     VCTs vs Pensions
     As pension contributions become less tax-efficient for high earners
     due to the last Budget’s change in the rules on tax relief, VCTs have
     continued to appear in the national and trade press as an alternative
     to pension contributions with their combined benefits of tax-free
     dividends and initial tax relief at 30%.

     Why AlBIon? The Albion Ventures investment
     strategy with a proven track record
     The Albion Ventures team are experienced investors with varied
     backgrounds in strategy consulting, healthcare, media and investment
     banking. They have specialised in the management of VCTs since
     1996 following an established investment philosophy.

 ❊ ReDuCeD InVesTMenT RIsk: It is our policy for our investments
     to have no external gearing, which often enables the VCT to have
     first charge on any assets of a company in which we invest

 ❊ BAlAnCeD PoRTFolIo: our portfolio is balanced between lower-risk,
     often asset backed companies and innovative, higher risk businesses

 ❊ DIVeRsIFIeD PoRTFolIo: our portfolios do not focus only in one area
     or industry, allowing diversification of the portfolios across a range of
     sectors, including healthcare and increasingly the environmental sectors


02 VenTURe MATTeRs
                                                                               our news sPring 2010




  Invest now in the Albion
  Development VCTs D Share Offer




  There is still time to                     To be certain your application for the 2009/10
                                             tax year is accepted, please ensure we receive
invest in the award winning                  your application by Monday 5 April 2010.
Albion Development VCTs                      Applications for the tax year 2010/11 can
                                             be received up to Friday 30 April 2010.
D share issue.                               Albion Development VCT’s D share issue aims to generate
                                             both long term growth and a regular tax-free dividend stream.




       Hotel
       Offer
                                             Bed & Breakfast Offer: £30 per person per
  in late 2005 we acquired the               night, includes full cooked English or continental
historic 110 bedroom Crown                   breakfast. All readers will also receive a
Hotel in the centre of Harrogate.            complimentary bottle of house wine awaiting
The hotel has since been fully               in their room on arrival.
refurbished, making it ideal for             This offer is based on two people sharing a standard
business or leisure trips to the             double or twin room and is subject to availability.
historic spa town of Harrogate,
with its Turkish Baths, tea rooms            To take advantage of this offer
                                             please call 01423 706604 or email
and many independent shops.                  laura.walker@crownhotelharrogate.com and
we are pleased to be able to offer readers   quote ‘Albion Ventures’. Please visit the hotels
of Venture Matters the following:            website at www.crownhotelharrogate.com

                                                                                                      03
 investment news
Happy 1st Birthday Albion Ventures. Over the year we have continued to seek out strong
investment opportunities for our range of VCTs and over the last few months, many of
our portfolio companies have successfully won new business.




helveta                                              lowcosttravel
     helveta wins a major contract in Africa            Albion has invested £3.4 million
                                                     in lowcosttravel since 2005
                          Helveta has won a
                          multi-year contract        Despite the credit crunch affecting the travel
                          with the government        market worldwide, Lowcost Travel group had
                          of the Democratic          a record month of trading in January 2010
                          Republic of Congo          with their business lowcostbeds.com seeing
                          (DRC) to implement         a 123% rise in business compared to January
                          a national traceability    2009. Lowcostbeds.com offers high quality,
                          system. The World          competitively priced hotel accommodation in
                          Bank has committed         3,000 hotels, apartments and villas around the
                          over $60m to               world, including the Mediterranean, Carribean,
                          improving DRC’s            Central America, UsA, Middle, east, india,
forestry sector, and a proportion of this has        south east Asia and the indian Ocean.
been set aside to improve governance,
sustainability and legality in the industry.         The largest area of growth for the business
                                                     is bookings for travel in June, July and
DRC is home to the world’s second largest            August where lowcostbeds.com and
tropical rainforest, representing 80% of Africa’s    Resorthoppa the uk’s leading independent
rainforest cover. As is the case in many tropical
                                                     holiday transfer business, are experiencing
timber producing nations, illegal logging is a
                                                     over 200% growth year-on-year.
significant threat to sustainable development
of the sector as well as to DRC’s economy. The
national forest management project will enable
DRC to meet the requirements of international
agreements, such as the eU’s FLegT initiative,
and prevent trade in illegal timber.
The project will utilise helveta’s unique
technology to map, record inventory, and track
wood produced from the Congolese forestry sector,
from the standing tree in the forest, through wood
processing plants, and finally to the nation’s
export gates and local wholesale markets.
04
                                                                           inVesTMenT news sPring 2010



   Albion Ventures LLP is a leading venture capital investor which has been managing
   investments since 1996. The team previously worked together at Close Ventures
   before becoming an independent business in January 2009.




Blackbay                                               City Screen
  Demand for Blackbay Solutions Drives                    According to the latest UK Film Council
Expansion to North America                             statistics, 2009 had the highest cinema
                                                       attendance in the last six years; good
                          Blackbay, an                 news for the six ‘art house’ cinemas we own
                          Albion backed                in conjunction with City screen, located in
                          company, provides            Brixton, greenwich, Cambridge, Liverpool,
                          mobiledata                   exeter and norwich.
                          applications to
                                                       2009 proved to be a strong year for
                          businesses in the
                                                       cinema in Britain, thanks to blockbusters
                          logistics and delivery
                                                       such as Harry Potter and the Half Blood
                          sectors and has
                                                       Prince, slumdog Millionaire and Avatar.
                          recently expanded
                                                       The introduction of 3D films saw both
                          its operations into
                                                       children and adults alike visiting their
                          north America.
                                                       local cinema, special glasses in hand,
Blackbay has delivered solutions to blue chip          to enjoy the phenomenon.
organisations such as DHL, royal Mail, Hermes
and Dyson. Blackbay is differentiated from
its perceived competitors by how it has used
its extensive industry knowledge and expertise
to deliver robust highly scalable solutions.
One area where they have demonstrated
the depth of their experience is in the postal
market. Blackbay has a strong relationship with
royal Mail, which utilises the mobile technology
in 25,000 of its vehicles, enabling staff to collect
proof of delivery via electronic hand-held
devices. The system captures event and time
stamping throughout the delivery process
providing visibility to royal Mail’s operations
and customers in real-time and reducing the
cost of administering its services.
                                                                                    VenTure MATTers 05
  performance
Albion Ventures has paid over £80 million of income tax free dividends to its
VCT investors, and has approximately £200 million under management in 7 VCTs.
The VCTs managed by Albion Ventures have a policy of buying back their shares
in the market. in such circumstances the VCTs will look to buy-back shares at
a discount to their net asset value, subject to certain conditions.


  Performance of VCTs managed by Albion Ventures llP

                                                                                Total                             Last dividend
                                                            Launch              return since        Mid-market paid/declared
  Fund                                                      date                launch†             share price†† per share


Albion Venture Capital Trust PLC                           Apr 96               189.60p             62.5p               2.5p paid on 6/1/10
– Ordinary shares*

Albion Protected VCT PLC                                   Apr 97               111.35p             53.0p               1.0p paid on 6/1/10


Albion Development VCT PLC                                 Jan 99               127.05p             64.0p               4.0p paid on 25/9/09
– Ordinary shares*

Albion Development VCT PLC                                 Dec 09               94.50p              95.0p
– D shares***

Albion Technology & general VCT PLC                        Jan 01               140.80p             72.0p               8.0p paid on 30/12/08
– Ordinary shares

Albion Technology & general VCT PLC                        Jan 06               80.80p              56.5p               1.0p paid on 18/9/09
– C shares

Albion income & growth VCT PLC                             Oct 04               81.74p              51.0p               1.25p paid on 1/2/10


Albion enterprise VCT PLC                                  Apr 07               91.95p              74.0p               1.0p paid on 6/1/10


Crown Place VCT PLC**                                      Apr 98               69.18p              27.5p               1.25p paid on 6/11/09

source: Albion Ventures. All data is prepared            were converted to Ordinary shares at a rate         launch of 94.5 pence is after deducting
as at 8 February 2010, using the last published          of 1.0715 Ordinary shares for each C share.         fundraising costs of 5.5 pence per share.
net asset value of the relevant fund.                ** Albion Ventures took over the management           † Dividends paid/declared plus nAV.
*The Albion VCT PLC C shares were                        of this VCT in April 2005.                          Please note: the above excludes all tax reliefs.
 converted to Ordinary shares at a rate             *** The Albion Development VCT PLC D shares were       ††As at 8 February 2010.
 of 1 Ordinary share for each C share and the           issued at 100 pence each. The total return since
 Albion Development VCT PLC C shares




Albion Ventures LLP 1 King’s Arms Yard, London, eC2R 7AF
T: 020 7601 1850 e: info@albion-ventures.co.uk
www.albion-ventures.co.uk

This newsletter is not a prospectus and should not be relied upon in making a
decision to invest in any of our funds. That decision should be based solely on the
relevant prospectus or fund raising document. none of the figures quoted herein
should be regarded as a dividend or profit forecast. Past performance is not a
reliable indicator of future results. This newsletter is issued by Albion Ventures
LLP which is authorised and regulated by the Financial services Authority.

								
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