Interim Results
October 03 2001 - 9:46AM
UK Regulatory
RNS Number:0745L
Oxford Technology 2 VCT PLC
3 October 2001
Oxford Technology 2 Venture Capital Trust plc
Interim Statement
For the period
1 March 2001 to 31 August 2001
Statement on behalf of the Board
Oxford Technology 2 VCT is now close to being fully invested, in the sense
that it is unlikely to invest in new companies. Its remaining capital is
intended to make follow-on investments in existing investees.
Net assets per share have increased from #0.99 at 28 February 2001 to #1.48
at 31 August 2001. But almost all of this rise is accounted for by the rise in
value of one investment, and this company has yet to achieve any sales, so
that the risks remain high.
The Board is pleased with the development of the portfolio as a whole.
Details of the investments are given in the September 2001 newsletter.
On behalf of the Board.
John Jackson
Chairman
1 October 2001
Unaudited financial statements
Summarised Statement of Total Six months Six months Year
Return for the period 1 Mar 01 18 Feb 00 18 Feb 00
to 31 Aug 01 to 31 Aug 00 to 28 Feb 01
#'000 #'000 #'000
Gain/(losses) on investments 2,940 (26) 117
Income 119 241 260
Expenses (104) (74) (168)
--- --- ---
Net return before taxation 2,955 141 209
Tax on ordinary activities - (35) (22)
--- --- ---
Return attributable to equity shareholders 2,955 106 187
Dividends in respect of equity shares - - (60)
--- --- ---
Transfers to reserves 2,955 106 127
==== ==== ====
Revenue earnings/(loss) per share 0.25p 2.24p 1.17p
Capital return/(loss) per share 49.00p (0.44)p 1.97p
Total return per ordinary share 49.25p 1.80p 3.14p
==== ==== ====
Summarised Balance Sheet 31 Aug 01 31 Aug 00 28 Feb 01
#'000 #'000 #'000
Unquoted investments 6,430 350 1,955
Government stocks 2,346 4,119 2,374
Other net current assets 127 1,458 1,619
--- --- ---
Net assets 8,903 5,927 5,948
==== ==== ====
Capital and Reserves
Called up share capital 600 600 600
Share premium: Share issues 5,400 5,400 5,400
Expenses on share issues (179) (179) (179)
--- --- ---
5,821 5,821 5,821
Capital reserve - unrealised 3,057 (26) 117
Revenue reserve 25 132 10
--- --- ---
8,903 5,927 5,948
==== ==== ====
Net asset value per share 148p 99p 99p
==== ==== ====
Cash flow statement for the period Six Six Year
months months 18 Feb 00
1 Mar 01 18 Feb 00 to 28 Feb
to 31 Aug to 31 Aug 01
01 00
#'000 #'000 #'000
Net cash inflow/(outflow) from operating (112) (162) 234
activities
Taxation recovered - - -
Capital expenditure and financial investment
Purchase of investments (1,531) (5,050) (6,918)
Redemption on maturity of government stocks - 760 2,479
--- --- ---
Net cash outflow for capital expenditure and (1,531) 4,290 (4,439)
financial investment
Dividends paid (60) - -
--- --- ---
Net cash inflow from financing (1,703) 4,452 (4,205)
Financing
Issue of shares - 6,000 6,000
Expenses paid in connection with share issue - (179) (179)
_____ _____ _____
Net cash inflow from financing - 5,821 5,821
===== ===== =====
Increase/(decrease) in cash (1,703) 1,369 1,616
===== ===== =====
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