Last checked at 
16 Mar 2012 15:07
Matrix Income & Growth 2 VCT plc (the Company)
16 March 2012
CORRECTION - UNAUDITED INTERIM MANAGEMENT STATEMENT
Further to the announcement released earlier today, 16 March 2012 (Number PRNUK-1603120954-39A4), there was an error with the record date reported in connection with the interim dividend of 4p per share. The record date should have been 30 March 2012 and not 28 March 2012 as announced. The dividend payment date remains as 20 April 2012.
The full text of the announcement, including the above amendment is includedbelow.---- UNAUDITED INTERIM MANAGEMENT STATEMENT For the quarter ended 31 January 2012 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 January 2012. The statement alsoincludes relevant financial information between the end of the period and thedate of this statement.NET ASSET VALUE PER SHARE Ordinary Shares 31 January 2012 31 October 2011 Net assets attributable to £25,456,970 £25,212,783shareholders Shares in issue 25,244,882 25,359,455 Net asset value per 1p Share: - Including current year income 100.84p 99.42p - Excluding current year income 99.27p 98.33p
DIVIDENDS
No dividends were paid during the quarter.
Since the quarter end, the Board has today declared an interim dividend of 4p per share for the year ending 30 April 2012, made up of 2p from income and 2p from capital. The dividend will be paid on 20 April 2012 to shareholders on the register on 30 March 2012.
SHARE BUY-BACKS
During the quarter the Company bought back 114,573 Ordinary Shares of 1p each at 69p per share. A further 93,775 Ordinary Shares at a price of 69p per share and 191,032 Ordinary Shares at a price of 68.48p per share were bought back after the period end. There were 24,960,075 Ordinary Shares in issue at the date of this announcement.
INVESTMENT PORTFOLIO
There have been a number of new investments during the period.
On 1 November 2011, the Company invested a further £95,723 into the acquisition vehicle Vanir Limited to support a management buyout (MBO) of EMaC Limited, the leading provider of outsourced service plans to franchised dealers in the automotive sector, bringing the Company's investment in EMaC to £1.1 million.
In January 2012, the Company invested £1 million in each of three acquisition companies Ackling Management Limited, Fosse Management Limited and Peddars Management Limited, to identify future opportunities for investment.
In December 2011, the Company made a partial disposal of its investment in DiGiCo to ISIS Equity Partners. The Company has received total cash proceeds of £3.02 million over the life of this investment, representing a 3 times cash return to date. In addition, the Company continues to hold a residual loan stock and small equity investment in this company, valued in total at £1.33 million.
Repayments of loan stock were received from Focus Pharma Holdings Limited of £ 206,325 including loan premium in January 2012 and £77,370 from Fullfield (Motorclean). In addition, three acquisition companies, Backbarrow Limited, Rusland Management Limited and Torvar Limited redeemed their loan stock and associated premium for £999,000 each, and the Company sold the equity in these companies in exchange for shares in Watchgate Limited. These companies had been unable to identify suitable opportunities within the appropriate period.
CHANGE OF OWNERSHIP AT MATRIX PRIVATE EQUITY PARTNERS ("MPEP")
Since April 2004, the Company's Manager MPEP has been owned jointly by its executive partners and Matrix Group Limited ("Matrix"). On 12 January 2012, the executive partners reached an agreement to acquire Matrix's interest in the business. The acquisition is subject to approval from the FSA of the change of control in MPEP and is expected to be completed on or around 30 June 2012.
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 Private Equity Partners LLP, Company Secretary: 020 3206 7102
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