Disposal of legacy holding (2127D)

TIDMORT

RNS Number : 2127D

Ortus VCT PLC

18 March 2011

Ortus VCT PLC

The board announces the imminent disposal of the Company's investment in LG & DE Limited, for a consideration of GBP949,237, payable in three instalments between completion and September 2012, with the deferred element of the consideration being bank guaranteed. LG & DE is one of the large, legacy investments made before the current Manager was appointed in December 2006.

This disposal represents the continuation of the Board's objective of reconstructing the investment portfolio with the aim of reducing concentration on a small number of large, non-yielding holdings, and by that means releasing sufficient cash to enable the Company to invest in a wider range of income-producing growth companies and to improve the long term performance of the investment portfolio. The realisation is being made at a discount to carrying value in light of the recent deterioration in LG & DE's performance and consequent cash requirement. The Company's net asset value was 42.4p at 30 November 2010, reflecting the valuation of unlisted investments as at 31 August 2010, as shown in the interim report, and the closing bid price of quoted securities at 30 November 2010. The implied effect of the disposal, taken in isolation, is therefore to reduce the net asset value to approximately 40p per share. However, the Board has not conducted a full review of the valuations of the unlisted investments in the portfolio at this stage. A full review of valuations will be carried out in the normal course in connection with the annual report for the year ended 28 February 2011 and reported to shareholders in due course.

The Company's investment portfolio now includes twelve later-stage investments in income-generating growth companies made by the current Manager in pursuance of the Board's policy of restructuring and diversifying the portfolio. The Board is satisfied with the new investments introduced by the Manager to date, most of which are performing in line with expectations, and the cash realised from the sale of LG & DE will also be invested in new assets which are intended to be capable of generating an attractive yield.

Issued on behalf of the Board

Maven Capital Partners UK LLP, Secretary

18 March 2011

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