REG-Oxford Technology 2 VCT plc : Quarterly Update <Origin Href="QuoteRef">OXF2.L</Origin>

Oxford Technology 2 Venture Capital TrustAnnouncement

05/07/2017 07:00

For best results when printing this announcement, please click on link below:
http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20170705:nGNE7VDswd


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 £1,356k 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
(£8k).

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