Interim Management Statement
16 May 2011 - 8:08PM
UK Regulatory
TIDMKAY2
Kings Arms Yard VCT 2 PLC Interim Management Statement
Introduction
I am pleased to present Kings Arms Yard VCT 2 PLC's interim management statement
for the period from 1 January to 16 May 2011 as required by the UK Listing
Authority's Disclosure and Transparency Rule 4.3.
Performance and dividends
The Company's unaudited net asset value (NAV), based on management accounts, as
at 31 March 2011 was GBP18.22 million (31 December 2010: GBP18.26 million) or 23.6
pence per share (31 December 2010: 23.6 pence per share).
The current NAVs and comparative figures are calculated before accounting for
the first dividend for the year to 31 December 2011 of 1 penny per share (total
cost: GBP773,000) which will be paid on 24 June 2011 to shareholders on the
register as at 27 May 2011, subject to agreement by the shareholders at the
Annual General Meeting on 16 May 2011.
The Company's net asset value has not changed materially since 31 December
2010.
Portfolio
The following investments have been made during the period from 1 January 2011
to 16 May 2011:
+-----------------------------------+------+-----------------------------------+
|Name | GBP000's| |
+-----------------------------------+------+-----------------------------------+
| | | |
+-----------------------------------+------+-----------------------------------+
|Oxford Immunotec Limited (further | 208 |International provider of T cell |
|investment) | |measurement solutions |
+-----------------------------------+------+-----------------------------------+
|Vivacta Limited (further | 116 |Medical diagnostics company |
|investment) | | |
+-----------------------------------+------+-----------------------------------+
|Perpetuum Limited (further | 103 |Provider of vibration energy |
|investment) | |harvesting |
+-----------------------------------+------+-----------------------------------+
|Celoxica Holdings Limited (further | 36 |Market data processing solutions |
|investment) | | |
+-----------------------------------+------+-----------------------------------+
|Celona Technologies Limited | 20 |Leading provider of real-time |
|(further investment) | |Application Data Migration software|
+-----------------------------------+------+-----------------------------------+
Disposals
During the period from 1 January 2011 to 16 May 2011, the following quoted
shares have been sold:
+------------------------+--------------+--------------------+-----------------+
|Name | Cost - GBP000's| Carrying value at |Proceeds - GBP000's|
| | | 31 December 2010 - | |
| | | GBP000's | |
+------------------------+--------------+--------------------+-----------------+
|MediGene AG | 797 | 252 | 268 |
+------------------------+--------------+--------------------+-----------------+
|Allergy Therapeutics PLC| 419 | 76 | 145 |
+------------------------+--------------+--------------------+-----------------+
Top ten holdings as at 31 March 2011:
+------------------------------+----------------+
| Investment | Carrying value |
| | GBP000's |
+------------------------------+----------------+
| UniServity Limited | 2,371 |
+------------------------------+----------------+
| Oxford Immunotec Limited | 1,301 |
+------------------------------+----------------+
| Workshare Limited | 1,233 |
+------------------------------+----------------+
| Level Four Software Limited | 1,229 |
+------------------------------+----------------+
| Elateral Holdings Limited | 1,214 |
+------------------------------+----------------+
| Xention Limited | 607 |
+------------------------------+----------------+
| Haemostatix Limited | 538 |
+------------------------------+----------------+
| Antenova Limited | 496 |
+------------------------------+----------------+
| Imagesound plc | 476 |
+------------------------------+----------------+
| Xtera Communications Limited | 396 |
+------------------------------+----------------+
Material Events and Transactions
As mentioned above, a dividend of 1 penny per share will be paid on 24 June
2011 to shareholders on the register as at 27 May 2011, subject to agreement by
the shareholders at the Annual General Meeting on 16 May 2011.
The Company has re-introduced a Dividend Reinvestment Scheme to existing
shareholders. Details of this Scheme can be found in the circular dated 18
April 2011 at www.albion-ventures.co.uk/Our Funds/ Kings_Arms_Yard_2.html.
There have been no further significant events or transactions that the Board is
aware of which would have a material impact on the financial position of the
Company between 1 January 2011 and 16 May 2011.
Further information regarding historic and current financial performance and
other useful shareholder information can be found on the Fund's website under
www.albion-ventures.co.uk/Our Funds/Kings_Arms_Yard_2.html
Robert Wright, Chairman
16 May 2011
For further information please contact:
Patrick Reeve, Albion Ventures LLP - tel: 020 7601 1850
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Kings Arms Yard VCT 2 PLC via Thomson Reuters ONE
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