Oxford Tech 3 VCT Oxford Technology 3 Vct Plc : Quarterly Update

 
TIDMOTT 
 
 
   Oxford Technology 3 VCT PLC 
 
   Update for the quarter ending 30 November 2016 
 
   Oxford Technology 3 VCT PLC presents its quarterly update for the period 
commencing 1 September 2016. 
 
   The Directors have recently reviewed the valuation of its entire 
portfolio as at 30 November 2016. 
 
   The unaudited net asset value per ordinary share as at 30 November 2016 
was 82.3p. This is a reduction of 5.0p from the previously published NAV 
for the period ending 31 August 2016 primarily due to a reduction in the 
valuation of Glide Pharmaceutical Technologies Limited (Glide). Despite 
making good progress on the technical front, Glide has struggled to 
raise funds, and is currently contemplating a round at a significant 
discount to OT3's current NAV. Glide is 9.4% of this latest NAV. 
 
   As announced in our RNS on 16(th) December 2016 the investment in 
Allinea has now been sold, yielding an immediate payment of GBP286k to 
OT3 with a further GBP36k to follow. 
 
   During the quarter follow on investments were made in Orthogem (GBP50k) 
and Arecor (GBP200k). 
 
   The total number of ordinary shares in issue is 6,785,233. 
 
   The Directors are not aware of any other events or transactions which 
have taken place between 1 December 2016 and the publication of this 
statement which have had a material effect on the financial position of 
the Company. 
 
   11 January 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 3 VCT plc via Globenewswire 
 
 
  http://www.oxfordtechnology.com 
 

(END) Dow Jones Newswires

January 11, 2017 02:00 ET (07:00 GMT)

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