Oxford Tech 3 VCT Oxford Technology 3 Vct Plc : Disposal
17 December 2016 - 4:14AM
UK Regulatory
TIDMOTT
Oxford Technology 3 Venture Capital Trust, OT3VCT PLC (LON:OTT), a
venture capital trust backing innovative technology businesses with high
growth potential is pleased to announce the sale of Allinea Software
Limited ("Allinea") to ARM Limited ("ARM"), the world's leading
semiconductor IP company, for a total cash consideration of up to
GBP18.1million.
Allinea, based in Warwick, is a leading provider of software tools for
developing and optimising high performance computing applications.
Allinea's platform is able to address high performance computing
software development, debugging and performance optimisation through the
use of its core products. Allinea has offices in the United States,
Europe and Japan, and its software is used in circa 70% of the world's
largest supercomputers. It has built relationships with many notable,
blue-chip customers and partners.
OT3 VCT will recognise an immediate realised gain of GBP158k, compared
with the holding value of GBP146k as at 31 August 2016. OT3VCT's
purchased the shares for GBP15k, so the initial proceeds of GBP286k
represents a 18 fold uplift. A further amount of GBP36k is held in
escrow and delayed release, 50% of this is being recognised as a gain in
the accounts.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Oxford Technology 3 VCT plc via Globenewswire
http://www.oxfordtechnology.com
(END) Dow Jones Newswires
December 16, 2016 12:14 ET (17:14 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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