Oxford Technology 2 VCT Regulatory News (OXH)

17 Oct 2006 15:03

Oxford Technology 2 VCT PLC17 October 2006 Oxford Technology 2 Venture Capital Trust plc Interim Statement For the period 1 March 2006 to 31 August 2006 Statement on behalf of the Board A dividend of 5p per share was paid in March, bringing the total dividends paidto date to 6p. Including these dividends, net assets per share on 31 August2006 were 87p, compared to 73p on 28 February 2006 and 80p on 31 August 2005. Several companies in the OT2 portfolio are making good or excellent progress andhave the potential to deliver exceptional returns. Full details of all the investments is given in the accompanying newsletter. On behalf of the Board John Jackson Chairman Unaudited financial information Profit and Loss Account for the Six months Six months Year toPeriod to 31 Aug to 31 Aug 28 Feb 06 £000 05 £000 06 £000 Turnover 10 17 473Expenses (85) (77) (156) _____ _____ _____Operating Profit (75) (60) 317Profit/(loss) on revaluation ofinvestments 912 184 (19) Profit/(loss) on ordinaryactivities before tax 837 124 298 Tax on profit/(loss) on ordinary - - -activities _____ _____ _____ Profit/(loss) for financial periodafter tax 837 124 298 _____ _____ _____ Dividends (300) - -Retained profit/(loss) 537 124 298 _____ _____ _____ Earnings Per Share 13.95p 2.07p 4.97p ===== ===== ===== Summarised Balance Sheet 31 Aug 06 31 Aug 05 28 Feb 06 £000 £000 £000Investments at fair value throughprofit or loss 4,679 3,993 3,666 Other net current assets 183 770 659 _____ _____ _____Net assets 4,862 4,763 4,325 ===== ===== ===== Capital and ReservesCalled up share capital 600 600 600Share premium: Share issues - 5,400 - Expenses on share issues - (179) - _____ _____ _____ 600 5,821 600Capital reserve unrealised - (403) - realised - (155) -Profit and loss account 2,504 (500) 2,879Revaluation Reserve 1,758 - 846 _____ _____ _____ ShareholdersO funds 4,862 4,763 4,325 ===== ===== =====Net asset value per share 81p 79p 72p ===== ===== ===== Cash flow Statement for the period Six months to 31 Aug Six months to 31 Year to 28 Feb 06 Aug 05 06 £000 £000 £000Net cash(outflow)/inflow from (89) (69) 381operating activitiesDividends paid (300) - -Capital expenditure and financialinvestmentPurchase of investments (101) - (113) Disposal of investments - 688 250 ____ _____ _____Net cash inflow from capitalexpenditure and financialinvestment (490) 688 137 _____ _____ _____(Decrease)/Increase in cash (490) 619 518 ===== ===== ===== Notes to the Unaudited Financial Information 1 The financial information for each of the interim periods ended 31 August 2006 and 31 August 2005 is unaudited anddoes not constitute statutory accounts within the meaning of the Companies Act 1985. It has been prepared usingaccounting policies consistent with those set out in the companys statutory accounts for the year ended 28 February2006. The financial information for the year ended 28 February 2006 has been extracted from the companys statutoryaccounts for that period which contained an unqualified audit report and which have been filed with the Registrar ofCompanies.2 The calculation of earnings per share for the period is based on the return attributable to shareholders divided bythe weighted average number of shares in issue during the period.3 Listed investments are stated at market value based upon middle market prices at the accounting period end. Theunrealised depreciation or appreciation on the valuation of investments and the gains and losses arising on thedisposal of investments are dealt with in the capital reserve.4 Copies of the Interim Statement are being sent to shareholders and further copies can be obtained from the CompanysRegistered Office. This information is provided by RNS The company news service from the London Stock Exchange