Oxford Tech 3 VCT Oxford Technology 3 Vct Plc : Disposal

 
TIDMOTT 
 
 
   Oxford Technology 3 Venture Capital Trust, OT3VCT PLC (LON:OTT), a 
venture capital trust backing innovative technology businesses with high 
growth potential is pleased to announce the sale of Allinea Software 
Limited ("Allinea") to ARM Limited ("ARM"), the world's leading 
semiconductor IP company, for a total cash consideration of up to 
GBP18.1million. 
 
   Allinea, based in Warwick, is a leading provider of software tools for 
developing and optimising high performance computing applications. 
 
   Allinea's platform is able to address high performance computing 
software development, debugging and performance optimisation through the 
use of its core products. Allinea has offices in the United States, 
Europe and Japan, and its software is used in circa 70% of the world's 
largest supercomputers. It has built relationships with many notable, 
blue-chip customers and partners. 
 
   OT3 VCT will recognise an immediate realised gain of GBP158k, compared 
with the holding value of GBP146k as at 31 August 2016. OT3VCT's 
purchased the shares for GBP15k, so the initial proceeds of GBP286k 
represents a 18 fold uplift. A further amount of GBP36k is held in 
escrow and delayed release, 50% of this is being recognised as a gain in 
the accounts. 
 
   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

December 16, 2016 12:14 ET (17:14 GMT)

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