MIG.L Regulatory News (MIG)

17 Mar 2011 09:45

Matrix Income & Growth 2 VCT plc (the Company) UNAUDITED INTERIM MANAGEMENT STATEMENT For the quarter ended 31 January 2011 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 2011. 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 2011 31 October 2010 Net assets attributable to £26,038,375 £24,491,877shareholders Shares in issue 26,048,899 26,339,245 Net asset value per 1p Share: - Including current year income 99.96p 92.99p - Excluding current year income 99.84p 93.05p

DIVIDENDS

No dividends were paid during the quarter.

Since the quarter end, the Board has today declared an interim dividend of 4p per share, made up of 0.2p from income and 3.8p from capital. The dividend will be paid on 20 April 2011 to shareholders on the register on 1 April 2011.

SHARE BUY-BACKS

During the quarter the Company bought back 290,346 Ordinary Shares of 1p each at 57p per share. No shares have been bought back since 31 January 2011. There were 26,048,899 Ordinary Shares in issue at the date of this announcement.

INVESTMENT PORTFOLIO

The VCT made three new investments in the quarter, all in December 2010.

Firstly, the Company invested £214,998 into the AiM listed company Omega Diagnostics Group Plc, a company providing high quality in vitro diagnostics products for use in hospitals, blood banks, clinics and laboratories in over 100 countries and specialising in the areas of food intolerance, autoimmune disease and infectious disease.

Secondly, the Company invested £374,870 to support the MBO of Faversham House Group Limited, an established media company providing magazines, exhibitions and online resources in the environment and sustainability, visual communications and building services sectors.

Finally, the Company invested £1 million in Apricot Trading Limited, to support the MBO of Automated Systems Group plc, a printer and copier services business with a broad customer base of schools and SMEs. Apricot Trading Limited has subsequently changed its name to ASL Technology Holdings Limited.

In January 2011, the VCT realised its entire investment in Campden Media for a cash consideration of £836,294, compared to the previous quarter's valuation of £345,728. This represented 85.8% of the total investment cost of £975,000. Together with interest paid over the life of the investment the total cash return was £1,016,150, representing 104% of cost.

In February 2011, following the quarter end, Iglu.com Holidays Limited repaid all of its loan stock of £847,675 plus a loan premium of £150,000 totalling £ 997,675. The Company retains an equity stake of 8.1% in Iglu.com Holidays, for a net cost of £152,326.

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.