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CLOSE BROTHERS

Close Brothers Protected VCT PLC - Albion Ventures

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<strong>CLOSE</strong> <strong>BROTHERS</strong> PROTECTED VCT PLCCONTENTSPage2 Directors and administration3 Financial highlights4 Investment objectives4 Financial calendar5 Chairman’s statement6 The Board of Directors7 The Manager9 Portfolio of investments18 Report of the Directors21 Statement of corporate governance23 Directors’ remuneration report25 Independent auditors’ report26 Statement of total return27 Balance sheet28 Cash flow statement29 Notes to the financial statements38 Notice of meeting1

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