MIG.L Regulatory News (MIG)

15 Sep 2010 13:39

Matrix Income & Growth 2 VCT plc (the Company) UNAUDITED INTERIM MANAGEMENT STATEMENT For the quarter ended 31 July 2010 In accordance with Rule 4.3 of the Disclosure and Transparency Rules of the UKListing Authority, Matrix Income & Growth 2 VCT plc presents an InterimManagement Statement for the quarter ended 31 July 2010. The statement alsoincludes relevant financial information between the end of the period and thedate of this statement.NET ASSET VALUE PER SHARE Ordinary Share Fund C Share Fund 31 July 30 April 31 July 2010 30 April 2010 2010 2010 Net assets attributable £8,481,157 £8,118,298 £15,973,266 £15,172,651to shareholders Shares in issue 11,259,333 11,259,333 17,346,339 17,346,339 Net asset value per 1p Share: - Excluding current year 75.2 p 72.5 p 92.3 p 88.0 pincome - Including current year 75.3 p 72.1 p 92.1 p 87.5 pincome DIVIDENDS

No dividends were paid during the quarter. However, after the quarter-end an interim dividend in respect of the year ended 30 April 2010 of 1.0 pence per C Share was paid on 13 August 2010 to C Shareholders on the register on 23 July 2010.

SHARE BUY-BACKS

There were no share buybacks during the period.

SHARE CLASS MERGER

On 13 August the Company issued a circular to shareholders proposing to merge the Company's Ordinary and C Share classes, amend the Company's investment policy and cancel the share premium account of the Company. All the resolutions proposed at the Extraordinary General Meeting, held on 9 September 2010 in consideration of the above matters, were duly passed by shareholders.

Each Ordinary Share was then converted into C Shares at a rate of 0.82701277 and rounded down to the nearest whole share, resulting in a further 9,311,976 C Shares. The 26,657,715 C Shares then in issue were redesignated as new Ordinary Shares. The balance of 1,947,957 Ordinary Shares arising from the conversion were converted into deferred shares and bought back by the Company for an aggregate price of one penny, and cancelled by the Company.

At 10 September 2010 the net asset value of the enlarged share class was £ 24,228,910 and the number of new Ordinary Shares in issue 26,657,715, giving a net asset value of 90.89p per new Ordinary Share.

INVESTMENT PORTFOLIO

No new investments were completed during the period.

In July, Digico Europe made a further partial repayment of loan stock of £ 40,966 plus a premium of £3,051 for the Ordinary Share Fund and the C Share Fund received £28,600 plus a premium of £2,130.

Monsal secured a strategic investment of £4 million from Four Winds Capital in exchange for an equity stake in the business and an additional £10 million made available to establish a new business. This investment increased the value of the Company's investment in Monsal by £585,343 from the valuation held by the Company at 30 April 2010. The Company also made a small additional investment in Monsal of £1,717 at the same share price as Four Winds, but also received a repayment of loan stock of £85,450.

Please note that all the information above is unaudited.

Other than described above, there were no material events during the period and to the date of this announcement.

For further information, please contact: Robert Brittain, for Matrix-Securities Limited, Company Secretary: 020 3206 7102