ILV2 Ingenious 2

TIDMILV2

RNS Number : 8775G

Ingenious Live VCT 2 plc

19 May 2011

19 May 2011

Ingenious Live VCT 2 plc ("the Company")

Interim Management Statement

For the period from 1 January 2011 to 18 May 2011

INVESTMENT ACTIVITIES & PERFORMANCE

With the Company having fully committed all of its funds in VCT qualifying investments, the management team is now focused upon creating maximum value for the shareholders through the further development of the Company's successful live events portfolio.

With strong sales already achieved for a number of events taking place this summer the Manager is hopeful of further increasing the net asset value total return per share from its current 97.3p per share, which is made up of 14p dividends paid to date together with a residual net asset value of 83.3p per share.

Creamfields, 80s Rewind, Underage and Field Day festivals are already ahead of their 2010 sales numbers and all expect to report increased profitability this year.

This year is also the second season of the Open Air Arena at Scarborough with Elton John kick-starting the summer line up of events, having sold out the venue's 8,000 tickets in under three hours.

The third season of Let's Dance took place in February of this year and again received strong ratings with over seven million viewers regularly tuning in.

The second Golf Live event takes place at the London Club in Kent between 20 and 22 May and has already firmly secured its place in the golfing calendar.

dividend payment

The Company announced its second dividend of 7p per share on 17 January 2011 (2010: 7p per share), which was paid on 11 February 2011.

non-qualifying investments

Currently, GBP1.1 million of the remaining proceeds raised by the Company is invested by the Manager in a number of cash funds (OEICs) in accordance with the Investment Policy.

 
                                                 31 December 
 Period ended                    31 March 2011          2010 
------------------------------  --------------  ------------ 
 
 Net asset value 
  GBP'000                                7,695         8,415 
 Net asset value total return 
  per share GBP'000                      8,989         9,062 
 Shares in issues (number)           9,242,845     9,242,845 
 

A copy of this interim management statement can be obtained from the following websites:

www.londonstockexchange.com

www.ingeniousvcts.co.uk

Enquiries to

Sarah Cruickshank

Company Secretary

Ingenious Live VCT 2 plc

15 Golden Square

London

W1F 9JG

0207 319 4000

MHP Communications

Reg Hoare / Barnaby Fry / Simon Hockridge / Giles Robinson

Tel: 020 3128 8100

ingenious@mhpc.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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