Oxford Technology

Notice of AGM and Shareholder Presentations

Notice of AGM and Shareholder Presentations

Copies of the Annual Report and Accounts of the Company in respect of the financial period ended 28 February 2021 and the Notice of Annual General Meeting and Shareholder presentation meetings to be held on 25 August 2021, 28 July and 12 August have been posted to shareholders. Copies of the Annual Report and Proxy Forms are available on the www.oxfordtechnologyvcts.com website and the text of the accompanying letter sent out is copied below.  Please sign up for the meetings at https://forms.gle/oTHUsj7dquSwpCug7

Dear Shareholder,

I am pleased to announce that the Annual Accounts for the year ended 28 February 2021 are now available for download from www.oxfordtechnologyvct.com/vct1.html.

The Company’s net asset value per share has increased by 5.0p from 44.7p as at 29 February 2020 to 49.7p as at 28 February 2021.  The increase is primarily due to an increase in the value of Scancell, albeit offset by a reduction in the value of the Company’s stake in Select Technology.  Quarter one then saw the Scancell share price fall and the Company’s unaudited net asset value was 45.6p at 31 May 2021.

Shareholders in your Company’s sister VCTs will be aware of Arecor Therapeutics Plc, founded in 2007.  Arecor was listed on AIM on 3 June 2021, and your Company made a £90,000 VCT-qualifying subscription for new Arecor shares, funded by a small divestment of Scancell shares.  More information will be provided in the half year update to 31 August 2021.  The Directors are of the view that Arecor has a promising future, and that having two AIM-listed holdings in your Company’s portfolio will provide resilience as we ensure compliance with the VCT qualifying tests.

After hosting last year’s AGM via electronic means, we had hoped to return to full normality for this year’s event, while also recognising the convenience of enabling virtual participation. 

Having not had the chance to meet shareholders for over two years, we are therefore planning the following shareholder interactions to maximise the opportunity for shareholder involvement during the holiday period:

We will also put any of the investee company video presentations on the website.

We hope shareholders will appreciate the flexibility being offered.

May we also take this opportunity to remind shareholders that it is legal requirement to declare if you are resident for tax purposes outside of the UK according to the Common Reporting Standards. If this does apply to you please contact us or the Registrars directly for the relevant links to self certification.

Yours sincerely,

Alex Starling