Oxford Tech 2 VCT Oxford Technology 2 Vct Plc : Quarterly Update
05 July 2017 - 4:00PM
UK Regulatory
TIDMOXH
Oxford Technology 2 VCT PLC
Update for the quarter ending 31 May 2017
Oxford Technology 2 VCT PLC presents its quarterly update for the period
commencing 1 March 2017.
The Directors have recently reviewed the valuation of its entire
portfolio as at 31 May 2017.
The unaudited net asset value per ordinary share as at 31 May 2017 was
37.2p. There is no change from the previously published NAV for the
period ending 28 February 2017.
As announced in our RNS on 8 June 2017 the investment in OC Robotics has
now been sold, yielding an immediate payment of GBP1,356k to Oxford
Technology 2 VCT PLC with a further payment expected (subject to
warranties).
In June 2017, a post quarter end follow on investment was made in ImmBio
(GBP8k).
The total number of ordinary shares in issue is 6,792,923.
The Board is aware of that, due to the age of the VCT and recent
realisations, the VCT is becoming sub economic due to unavoidable
overheads on a small asset base and also has limited ability to increase
the asset base on its own. The Board has considered a number of options
regarding how this can be dealt with (and is currently in discussions
regarding these options). Once a proposal which the Board considers is
in the best interests of existing shareholders is sufficiently advanced,
a further announcement will be made and shareholders will be invited to
approve any new arrangements. However, there can be no certainty that
any of these discussions will lead to a concrete proposal, at this time
or in the future.
The Directors are not aware of any other events or transactions which
have taken place between 31 May 2017 and the publication of this
statement which have had a material effect on the financial position of
the Company.
05 July 2017
Enquiries:
Lucius Cary, Oxford Technology Management
01865 784466
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 2 VCT plc via Globenewswire
http://www.oxfordtechnology.com
(END) Dow Jones Newswires
July 05, 2017 02:00 ET (06:00 GMT)
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