Oxford Tech 2 VCT Oxford Technology 2 Vct Plc : Quarterly Update

 
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)

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