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Oxford Technology 2 VCT Plc
Update for the quarter ending 30 November 2018
Oxford Technology 2 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 30.2p. This is a fall of 0.2p from the previously published NAV for the period ending 31 August 2018. The decrease in NAV was primarily due to a fall in the bid price of Scancell (11.5p at 31 August 2018 to 7.8p). An investment of £59k was also made in the period in Orthogem at a slightly increased valuation.
The total return to shareholders including previous dividends of 21.0p per share is now 51.2p per share.
The total number of ordinary shares in issue is 5,331,889.
On 19 November 2018, Shareholders overwhelmingly supported the Board’s proposals to enlarge the Company’s share capital. The Directors continue to work actively with Chelverton Asset Management and their advisers on an offer for subscription of a new class of shares and hope to be able to publish the required prospectus in the near future.
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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