Share Name Share Symbol Market Type Share ISIN Share Description
Oxf.Tech.2 Vct LSE:OXH London Ordinary Share GB0003105052 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 30.00p 25.00p 35.00p 30.00p 30.00p 30.00p 0 06:30:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 -0.0 -0.4 - 1.47

Oxford Tech 2 VCT Oxford Technology 2 Vct Plc : Tender Offer

25/07/2017 7:00am

UK Regulatory (RNS & others)

   As discussed at the AGM on 5 July 2017, Oxford Technology 2 VCT Plc is 
pleased to announce further details about the cash it intends to return 
to eligible shareholders by way of the "Tender Offer".  Up to 30% in 
aggregate of the Company's issued share capital will be available for 
tender at a price of 31.5p per share, a discount of just over 15% to the 
net asset value of 31 May 2017.  Shareholder approval for this Tender 
Offer was given at the latest AGM. 
   The Board is aware that liquidity in the shares has been limited which 
on occasions has led to a wide disparity between the share price and net 
asset value. The buy back helps to address this issue and allows 
shareholders that should so wish, to dispose of shares at a price which 
more fully reflects the net asset value. Shares not tendered in the buy 
back will be available for excess applications by shareholders wishing 
to sell more than 30% of their holding. 
   Full details of the Tender Offer are contained in a circular that will 
be sent to all registered shareholders on 26 July 2017 
   Timetable of Events 
Record date                                               25 July 2017 
Latest time and date for receipt of the Tender Offer     1pm on the 31 August 2017 
Registrars Books Closing Date for the Tender Offer       6pm on the Thursday 31 
                                                         August 2017 
Announcement of the take-up level under the Tender       Monday 4 September 2017 
Settlement date for the Tender Offer Cheques despatched  By Thursday 14 September2017 
 and assured payments made through Crest. 
   The dates and times given are based on the Company's current 
expectations and may be subject to change. Any changes to the expected 
timetable will be announced via a Regulatory Information Service. 
   If you have any queries regarding the procedure for accepting the Tender 
Offer, please contact Lucius Cary 
   Shareholders that do not participate in the Tender Offer will own a 
greater portion of the remaining assets. Assuming at least some 
shareholders opt to participate in the tender offer, then immediately 
following the tender, and before the payment of any further dividends, 
the net asset per remaining share will increase (assuming no change in 
investment performance) as a result of the discount attributed to the 
shares bought back in.  Shareholders should also note that a dividend 
will be paid to all shareholders still on the register after the 
completion of the Tender Offer. At the current time, the Directors would 
expect to declare a dividend of at least 7p per remaining share, which 
will be paid before the end of November 2017. The precise quantum of 
this dividend will depend in part on any follow-on investments made in 
the next few months. Any shares purchased under the Tender Offer will 
not be eligible for this dividend. 
   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 

(END) Dow Jones Newswires

July 25, 2017 02:00 ET (06:00 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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