Noble VCT plc - Foresight Group

Corporate Policy and Financial Highlights
NOBLE VCT PLC 1
Objectives
The objectives of Noble VCT plc (“Noble” or “the Company”) are to provide the shareholders with (i) the benefits of a venture
capital portfolio which emphasises capital gains whilst seeking to lower risk by maintaining a balanced and diverse portfolio
of investments by both number and sector and (ii) the personal tax benefits available through investment in a Venture Capital
Trust (“VCT”). Noble will continue to make its investments in a way which the board believes will meet the aims of the
Chancellor of the Exchequer when he introduced the concept of VCTs so as to generate investment in dynamic, innovative
and growing UK businesses.
Venture Capital Trust Status
Noble has satisfied the conditions for venture capital trust status under Section 842AA of the Income and Corporation Taxes
Act 1988 and the Directors intend to continue the business of the Company so as to comply with that Section.
Performance Summary
Noble VCT A Share NAV total return over the
last year against FTSE AIM All Share total return
120
110
100
90
80
70
Mar 06
May 06 July 06 Sep 06 Nov 06 Jan 07 Mar 07
Apr 06 June 06 Aug 06 Oct 06 Dec 06 Feb 07
FTSE AIM All Share total return (rebased)
Noble VCT NAV total return
The above graph outlines the NAV Total Return (inclusive of all dividends paid) for A Ordinary Shares (“A Shares”). The returns
are shown against the FTSE AIM All Share Index total return (rebased).
As at 31 March 2007 As at 31 March 2006
Capital Values A Share A Share
Net asset value per share 82.70p 85.40p
Total net assets £25.71m £22.45m
Year ended Year ended
Results and Dividends 31 March 2007 31 March 2006
Earnings per share 0.01p (3.33)p
Total distribution per share 3.25p 1.75p