Oxford Tech 3 VCT Oxford Technology 3 Vct Plc : Half-yearly Report
October 02 2013 - 10:47AM
UK Regulatory
TIDMOTT
Oxford Technology 3 Venture Capital Trust PLC
Interim Statement
For the period 1 March 2013 to 31 August 2013
Statement on behalf of the Board
The net assets per share as at 31 August 2013 were 100p compared to 91p
as at 31 August 2012 and 97p as at 28 February 2013. The major reason
for the increase is the rise in the share price of Scancell, which is
quoted on AIM. OT3 owns 4,759,356 shares. Scancell has a vaccine for
skin cancer in clinical trials.
OT3 owns 8.8% of Ixaris whose sales have grown from its start up when
OT3 first invested in 2002 to more than GBP8m in the year to December
2012. Ixaris operates Entropay, a virtual Visa card which enables
people to spend securely online. OT3 owns 27.6% of Telegesis, which
specialises in Zigbee technology. Sales were GBP2.4m in the year to
March 2012 and increased to GBP3.8m in the year to March 2013. The
company has been profitable for the last four years.
On behalf of the Board
Richard Vessey - Chairman
Unaudited Financial Information
Profit and Loss Account for the Six months to 31 Aug 13 Six months to 31 Aug 12 Year to 28 Feb 13
Period GBP'000 GBP'000 GBP'000
Profit/(loss) on disposal of assets
held at fair value 36 3 3
Unrealised gain/(loss) on fair value
of investments 244 1,439 1,913
Other income - 2 16
Other expenses (88) (68) (138)
Profit/(loss) on ordinary activities
before tax 192 1,376 1,794
Tax on profit/(loss) on ordinary
activities - - -
Profit/(loss) on ordinary activities
after tax 192 1,376 1,794
Earnings per Share 2.8p 20.4p 26.7p
Six months to 31 Aug 13 Six months to 31 Aug 12 Year to 28 Feb 13
Historic Cost Profits and Losses Note GBP'000 GBP'000 GBP'000
Profit/(loss) for the financial period 192 1,376 1,794
Unrealised loss/(gain) on investments held at fair
value (244) (1,439) (1,913)
Loss/(profit) on disposal of investments held at fair
value (36) (3) (3)
Profit/(loss) on disposal of investments held at historical
value 36 (79) (78)
Historical cost profit/(loss) before tax (52) (145) (200)
Historical cost profit/(loss) after tax (52) (145) (200)
31 Aug 13 31 Aug 12 28 Feb 13
Summarised Balance Sheet GBP'000 GBP'000 GBP'000
Investments held at fair value 6,637 5,899 6,337
Other net current assets 156 283 263
Net assets 6,793 6,182 6,600
Capital and Six months to 31 Aug 13 Six months to 31 Aug 12 Year to 28 Feb 13
Reserves GBP'000 GBP'000 GBP'000
Called up share
capital 679 679 679
Share premium 719 719 719
Profit and loss
account 1,504 1,610 1,555
Revaluation reserve 3,891 3,174 3,648
Shareholders'funds 6,793 6,182 6,600
Net asset value per 100p 91p 97p
share
Six months to 31 Aug 13 Six months to 31 Aug 12 Year to 28 Feb 13
Cash Flow Statement for the Period GBP'000 GBP'000 GBP'000
Net cash outflow from operating activities (76) (61) (97)
Capital expenditure and financial investment
Purchase of investments (107) (229) (233)
Disposal of investments 88 23 62
Net cash outflow from capital expenditure and financial
investment (19) (206) (171)
Increase/(decrease) in cash (95) (267) (268)
Notes to the Unaudited Financial Information on pages 2 and 3
1 The financial information for each of the interim periods ended
31 August 2013 and 31 August 2012 is unaudited and does not constitute
statutory accounts within the meaning of the Companies Act 2006. It has
been prepared using accounting policies consistent with those set out in
the company's statutory accounts for the year ended 28 February 2013.
The financial information for the year ended 28 February 2013 has been
extracted from the company's statutory accounts for that period which
contained an unqualified audit report and which have been filed with the
Registrar of Companies. The Board confirms that the unaudited finance
information for the 6 months ending 31 August 2013 has been prepared in
accordance with IAS 34.
2 The calculation of earnings per share for the period is based on the
return attributable to shareholders divided by the 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. The unrealised depreciation
or appreciation on the valuation of investments are dealt with in the
revaluation reserve.
4 Copies of the Interim Statement are being sent to shareholders and
further copies can be obtained from the Company's Registered Office.
This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Oxford Technology 3 VCT plc via Thomson Reuters ONE
HUG#1733229
http://www.oxfordtechnology.com
Oxford Technology 3 Vent... (LSE:OTT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Oxford Technology 3 Vent... (LSE:OTT)
Historical Stock Chart
From Jul 2023 to Jul 2024
