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Oxford Technology 3 VCT Plc
Update for the quarter ending 30 November 2018
Oxford Technology 3 VCT Plc presents its quarterly update for the period commencing 1 September 2018.
The Directors have recently reviewed the valuation of its entire portfolio as at 30 November 2018.
The unaudited net asset value per ordinary share (NAV) as at 30 November 2018 was 82.6p. This is a fall of 2.9p from the previously published NAV for the period ending 31 August 2018. The decrease in NAV is primarily due to a fall in the bid price of Scancell (11.5p to 7.8p). This was offset by a small increase in Orthogem’s valuation.
The total return to shareholders including previous dividends of 36.0p per share is now 118.6p per share.
During the quarter, follow on investments were made in Orthogem (£83k) and Arecor (£170k). Abzena shareholders accepted a cash takeover (disposal proceeds of £32k) and Glide was dissolved (which had no effect on the NAV as the investment had already been fully provided for). Ixaris Group Holdings has now closed its Entropay subsidiary due to changes in VISA regulations. However, this is counterbalanced by the rapid growth of its core travel industry payments subsidiary.
The total number of ordinary shares in issue is 6,785,233.
The Directors are not aware of any other events or transactions which have taken place between 30 November 2018 and the publication of this statement which have had a material effect on the financial position of the Company.
17 December 2018
Lucius Cary, Oxford Technology Management
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