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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Oxford Technology 4 Venture Capital Trust Plc | LSE:OXF | London | Ordinary Share | GB00B01H4V84 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 34.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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Oxford Technology 4 Venture Capital Trust PLC
Interim Statement
For the period 1 March 2015 to 31 August 2015
Financial Headlines
Interim Period Ended Year Ended
31 August 2015 28 February 2015
Net Assets at Period End GBP8.48m GBP7.63m
Net Asset Value per Share 73.6p 66.2p
Cumulative Dividend 27.0p 17.0p
Total NAV Return 100.6p 83.2p
Share Price (mid market) 60.0p 36.5p
Earnings per Share 17.4p (3.1)p
Statement on behalf of the Board
Following the changes in manager and fees announced with the year end
results in June and by RNS in July, the focus of your VCT has now
reverted to developing and realising the investments within the
portfolio. The progress being achieved is demonstrated by the disposal
of Impact Technologies to Castleton Technologies plc in June and the
resulting dividend of 10 pence per share paid in August.
The net asset value has increased by 7.4p from 66.2p at 28 February 2015
to 73.6p at 31 August 2015, in addition to the payment of the dividend.
Total return has therefore risen from 83.2p at 28 February 2015 to
100.6p at 31 August 2015. Whilst the proceeds of the sale of Impact
Applications and the subsequent increase in the Castleton Technology plc
share price represent much of this increase, revaluations of Telegesis
and Select as a result of their strong trading have also contributed
substantially.
A new investment of GBP200k was made in Zuvasyntha to fund the
development of the bacterial production of chemicals and another GBP200k
was made post the period end in ImmunoBiology to fund the next round of
clinical trials, pending MHRA approval. Details of the full portfolio
are included in our Annual Report and on the website.
The VCT is unlikely to be significantly affected by the changes proposed
for the VCT industry as a result of the Budget announcements earlier in
the year.
On behalf of the Board
David Livesley - Chairman
Unaudited Financial Information
Six months to Six months to Year to
31 Aug 15 31 Aug 14 28 Feb 15
Income Statement for the Period GBP'000 GBP'000 GBP'000
(Loss)/gain on disposal of assets
held at fair value 1,328 78 (273)
Unrealised gain/(loss) on fair
value of investments 733 451 118
Other income 3 3 8
Expenses (64) (101) (205)
Return on ordinary activities _____ _____ _____
before tax 2,000 431 (352)
Tax on return on ordinary
activities - - -
_____ _____ _____
Return on ordinary activities
after tax 2,000 431 (352)
_____ _____ _____
Earnings per Share 17.4p 3.7p (3.1)p
_____ _____ _____
Six months to Six months to Year to
31 Aug 15 31 Aug 14 28 Feb 15
Statement of Changes in Equity for the Period GBP'000 GBP'000 GBP'000
Shareholders' funds at the start of period 7,631 7,983 7,983
Return on ordinary activities after tax 2,000 431 (352)
Dividends (1,152) - -
_____ _____ _____
Shareholders' funds at the end of period
8,479 8,414 7,631
_____ _____ _____
31 Aug 15 31 Aug 14 28 Feb 15
Summarised Balance Sheet GBP'000 GBP'000 GBP'000
Investments held at fair value 7,544 7,566 6,860
Net current assets 976 908 824
Creditors:amounts falling due
> 1 year (41) (60) (53)
_____ _____ _____
Net assets 8,479 8,414 7,631
_____ _____ _____
Capital and Reserves
Called up share capital 1,152 1,152 1,152
Share premium 813 813 813
Profit and loss account 5,615 5,531 5,411
Revaluation reserve 899 918 255
_____ _____ _____
Shareholders' funds 8,479 8,414 7,631
_____ _____ _____
Net asset value per share 73.6p 73.1p 66.2p
_____ _____ _____
Cash Flow Statement for the Period Six months to Six months to Year to
31 Aug 15 31 Aug 14 28 Feb 15
GBP'000 GBP'000 GBP'000
Net cash inflow/(outflow) from
operating activities (237) 4 (12)
Financial investment
Purchase of investments (200) (70) (209)
Disposal of investments 1,577 76 458
_____ _____ _____
Net cash inflow/(outflow) 1,140 6 237
Dividends paid (1,152) - -
_____ _____ _____
Increase/(decrease) in cash (12) 10 237
_____ _____ _____
Oxford Technology 4 Venture Capital Trust Plc
Summary of Investment Portfolio as at 31 August 2015
Net cost of Valuation
investment Valuation movement % of portfolio
Company GBP000's GBP000's GBP000's by value
Castleton 1,090 1,453 363 19.3%
Glide Pharma 975 1,439 - 19.1%
Telegesis Ltd 230 1,367 393 18.1%
Select
Technology 237 863 276 11.4%
Plasma Antennas 448 577 - 7.6%
Arecor 291 446 - 5.9%
Diamond Hard 640 385 - 5.1%
Other
Investments 3,089 1,014 15 13.5%
Total
Investments 7,000 7,544 1,047 100%
Other Net Assets 935
Net Assets 8,479
Notes to the Unaudited Financial Information
1 The unaudited financial information for the six months to 31 August
2015 has been prepared in accordance with Financial Reporting Standard
104 "Interim Financial Reporting" and in accordance with the accounting
policies and principles that will be adopted in the next financial
statements which are to be prepared under Financial Reporting Standard
102 for the first time. No restatement of prior periods has been
necessary. The unaudited financial information for the six months to 31
August 2015 does not constitute statutory accounts within the meaning of
Section 415 of the Companies Act 2006. The comparative figures for the
year ended 28 February 2015 have been extracted from the audited
financial statements for that year, which have been delivered to the
Registrar of Companies. The independent auditor's report on those
financial statements was unqualified.
2 The calculation of earnings per share for the period is based on the
return attributable to shareholders divided by the weighted average
number of shares in issue during the period.
3 Listed investments are stated at market value based upon bid prices
at the accounting period end. The unrealised depreciation or
appreciation on the valuation of investments are dealt with in the
revaluation reserve.
4 Copies of the Interim Statement have been made available to
shareholders and further copies can be obtained from the Company's
Registered Office.
Board Directors : David Livesley, Robin Goodfellow, Richard Roth and
Alex Starling
Investment Manager : OT4 Managers Ltd with services contracted to
Oxford Technology Management Ltd
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX 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 4 VCT plc via Globenewswire
HUG#1961835
http://www.oxfordtechnology.com
(END) Dow Jones Newswires
October 28, 2015 03:01 ET (07:01 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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