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Oxford Technology 3 VCT PLC  -  OTT   

Oxford Technology 3 VCT plc : Quarterly Update

Released 18:00 16-Jul-2015

Oxford Technology 3 VCT plc : Quarterly Update

Oxford Technology 3 VCT PLC

Update for the quarter ending 31 May 2015

Oxford Technology 3 VCT PLC presents its quarterly update for the period commencing 1 March 2015. 

The Directors have recently reviewed the valuation of its entire portfolio as at the quarter ending 31 May 2015.

The unaudited net asset value per ordinary share as at 31 May 2015 was 103.3p.  This is a rise of 7.7p from the previously published NAV for the year ending 28 February 2015 due to an increase in the price of Scancell Holdings Plc's shares quoted on AIM.  The bid price of Scancell's shares used for the calculation of the End of Period NAV was 35.25p.  The valuation of Telegesis has also been increased due to its rising sales performance.

The total number of ordinary shares in issue is 6,785,233.

In June 2015 the Company sold 58,000 shares in Abzena at a price of 86p.  The Company retains 190,541 shares.

A number of changes relating to new management and performance fee arrangements, a Common Board and the self-managed structure were announced with the results for the year to 28 February 2015.   The previous performance fee accrual of £95k at the year end has been reversed following these revised threshold arrangements.  A new accrual of £12k has been made.

The Directors are not aware of any other events or transactions which have taken place between 31 May 2015 and the publication of this statement which have had a material effect on the financial position of the Company.

16 July 2015

Lucius Cary, Oxford Technology Management
01865 784466

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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



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Oxford Technology 3 VCT plc : Quarterly Update - RNS