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

Oxford Technology 2 Venture Capital TrustAnnouncement

25/07/2017 07:00

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As discussed at the AGM on 5 July 2017, Oxford Technology 2 VCT Plc is pleased
to announce further details about the cash it intends to return to eligible
shareholders by way of the "Tender Offer".  Up to 30% in aggregate of the
Company's issued share capital will be available for tender at a price of
31.5p per share, a discount of just over 15% to the net asset value of 31 May
2017.  Shareholder approval for this Tender Offer was given at the latest
AGM.

 The Board is aware that liquidity in the shares has been limited which on
occasions has led to a wide disparity between the share price and net asset
value. The buy back helps to address this issue and allows shareholders that
should so wish, to dispose of shares at a price which more fully reflects the
net asset value. Shares not tendered in the buy back will be available for
excess applications by shareholders wishing to sell more than 30% of their
holding. 

 Full details of the Tender Offer are contained in a circular that will be
sent to all registered shareholders on 26 July 2017

 Timetable of Events  

 Record date                                                                                       25 July 2017                        
 Latest time and date for receipt of the Tender Offer                                              1pm on the 31 August 2017           
 Registrars Books Closing Date for the Tender Offer                                                6pm on the Thursday 31 August 2017  
 Announcement of the take-up level under the Tender Offer                                          Monday 4 September 2017             
 Settlement date for the Tender Offer Cheques despatched and assured payments made through Crest.  By Thursday 14 September2017        

The dates and times given are based on the Company's current expectations and
may be subject to change. Any changes to the expected timetable will be
announced via a Regulatory Information Service.

 If you have any queries regarding the procedure for accepting the Tender
Offer, please contact Lucius Cary lucius@oxfordtechnology.com

 Shareholders that do not participate in the Tender Offer will own a greater
portion of the remaining assets. Assuming at least some shareholders opt to
participate in the tender offer, then immediately following the tender, and
before the payment of any further dividends, the net asset per remaining share
will increase (assuming no change in investment performance) as a result of
the discount attributed to the shares bought back in.  Shareholders should
also note that a dividend will be paid to all shareholders still on the
register after the completion of the Tender Offer. At the current time, the
Directors would expect to declare a dividend of at least 7p per remaining
share, which will be paid before the end of November 2017. The precise quantum
of this dividend will depend in part on any follow-on investments made in the
next few months. Any shares purchased under the Tender Offer will not be
eligible for this dividend.
   
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