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Oxford Technology 4 VCT Plc
Update for the quarter ending 30 November 2018
Oxford Technology 4 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 46.5p. This is a fall of 2.1p from the previously published NAV for the period ending 31 August 2018. The fall in NAV is primarily due to the Castleton bid price falling (101p to 95p) and the valuation of Zuvasyntha being reduced to zero. It was offset by a small increase in Orthogem’s valuation.
The total return to shareholders including previous dividends of 40.0p per share is now 86.5p per share.
During the quarter, a sale of Castleton shares was made (disposal proceeds of £30K) and Abzena shareholders accepted a cash takeover (disposal proceeds £15k). Glide was dissolved, and the liquidation of Historic Futures completed (neither of these had any effect on the NAV as both investments had already been fully provided for). Follow on investments were made in Orthogem (£79k) and Arecor (£99k). Zuvasyntha closed when it became clear that they would not be able to accept a major Innovate grant that they had won due to Innovate's changed interpretation of EU State Aid rules.
The total number of ordinary shares in issue is 11,516,946.
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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