Information  X 
Enter a valid email address

Oxford Technology VCT plc (OXT)

  Print   

Friday 15 October, 2010

Oxford Technology VCT plc

Interim Management Statement






                  Oxford Technology Venture Capital Trust PLC
                               Interim Statement
                 For the period 1 March 2010 to 31 August 2010


                        Statement on behalf of the Board

Net  Assets per share  on 31 August 2010 were  35p per share compared to 41p per
share  on 28 February  2010.  A dividend  of 10p per  share was  paid on 16 July
2010.

The  future  performance  of  the  fund  is  likely  to  depend  largely  on the
performance  of  Select  Technology  and  Scancell,  both  of  which  are making
encouraging  progress and, while still carrying some degree of significant risk,
have the potential to deliver good returns.


On behalf of the Board
John Jackson - Chairman

                        Unaudited Financial Information

+-------------------------+-----------------+-----------------+----------------+
|                         |                 |                 |                |
|Profit and Loss Account  |Six months to 31 |Six months to 31 |  Year to 28 Feb|
|for the Period           |           Aug 10|           Aug 09|              10|
|                         |            £'000|            £'000|           £'000|
+-------------------------+-----------------+-----------------+----------------+
|Profit/(loss) on disposal|                 |                 |                |
|of assets held at fair   |                 |                 |                |
|value                    |               18|                -|            (14)|
+-------------------------+-----------------+-----------------+----------------+
|Unrealised profit/(loss) |                 |                 |                |
|on fair value of         |                 |                 |                |
|investments              |              251|              247|             349|
+-------------------------+-----------------+-----------------+----------------+
|Other income             |                2|                2|               5|
+-------------------------+-----------------+-----------------+----------------+
|Other expenses           |             (29)|             (34)|            (60)|
+-------------------------+-----------------+-----------------+----------------+
|Profit/(loss) on ordinary|                 |                 |                |
|activities               |                 |                 |                |
|before tax               |              242|              215|             280|
+-------------------------+-----------------+-----------------+----------------+
|Tax on profit/(loss) on  |                 |                 |                |
|ordinary activities      |                -|                -|               -|
+-------------------------+-----------------+-----------------+----------------+
|Profit/(loss) on ordinary|                 |                 |                |
|activities               |                 |                 |                |
|after tax                |              242|              215|             280|
+-------------------------+-----------------+-----------------+----------------+
|Earnings per Share       |             4.5p|             4.2p|            5.3p|
+-------------------------+-----------------+-----------------+----------------+


+-------------------------+-----------------+-----------------+----------------+
|                         |                 |                 |                |
|Historic Cost Profits and|Six months to 31 |Six months to 31 |  Year to 28 Feb|
|Losses Note              |           Aug 10|           Aug 09|              10|
|                         |            £'000|            £'000|           £'000|
+-------------------------+-----------------+-----------------+----------------+
|                         |                 |                 |                |
|Profit/(loss) for the    |                 |                 |                |
|financial period         |              242|              215|             280|
+-------------------------+-----------------+-----------------+----------------+
|Unrealised profit/(loss) |                 |                 |                |
|on investments held at   |                 |                 |                |
|fair value               |            (251)|            (247)|           (349)|
+-------------------------+-----------------+-----------------+----------------+
|Realisation of prior     |                 |                 |                |
|year's net loss          |             (18)|                -|              14|
+-------------------------+-----------------+-----------------+----------------+
|Historical cost          |                 |                 |                |
|profit/(loss) before tax |             (27)|             (32)|            (55)|
+-------------------------+-----------------+-----------------+----------------+
|Historical cost          |                 |                 |                |
|profit/(loss) after tax  |             (27)|             (32)|            (55)|
+-------------------------+-----------------+-----------------+----------------+



+-----------------------+------------------+------------------+----------------+
|                       |                  |                  |                |
|Summarised Balance     | Six months to 31 | Six months to 31 |  Year to 28 Feb|
|Sheet                  |            Aug 10|            Aug 09|              10|
|                       |             £'000|             £'000|           £'000|
+-----------------------+------------------+------------------+----------------+
|Investments held at    |                  |                  |                |
|fair value             |             1,595|             1,947|           2,051|
|                       |                  |                  |                |
+-----------------------+------------------+------------------+----------------+
|Other net current      |               327|               159|             118|
|assets                 |                  |                  |                |
+-----------------------+------------------+------------------+----------------+
|Net assets             |             1,922|             2,106|           2,169|
+-----------------------+------------------+------------------+----------------+


+-------------------------+-----------------+-----------------+----------------+
|                         |                 |                 |                |
|Capital and Reserves     |Six months to 31 |Six months to 31 |  Year to 28 Feb|
|                         |           Aug 10|           Aug 09|              10|
|                         |            £'000|            £'000|           £'000|
+-------------------------+-----------------+-----------------+----------------+
|Called up share capital  |              543|              529|             529|
|                         |                 |                 |                |
+-------------------------+-----------------+-----------------+----------------+
|Share premium            |              176|              136|             136|
+-------------------------+-----------------+-----------------+----------------+
|Profit and loss account  |            1,202|            1,234|           1,148|
+-------------------------+-----------------+-----------------+----------------+
|Revaluation reserve      |                1|              207|             356|
+-------------------------+-----------------+-----------------+----------------+
|Shareholders'funds       |            1,922|            2,106|           2,169|
+-------------------------+-----------------+-----------------+----------------+
|Net asset value per share|              35p|              41p|             41p|
+-------------------------+-----------------+-----------------+----------------+


+-----------------------------+----------------+----------------+--------------+
|                             |                |                |              |
|Cash Flow Statement for the  |   Six months to|   Six months to|Year to 28 Feb|
|Period                       |       31 Aug 10|       31 Aug 09|            10|
|                             |           £'000|           £'000|         £'000|
+-----------------------------+----------------+----------------+--------------+
|Net cash outflow from        |                |                |              |
|operating activities         |            (48)|            (36)|          (57)|
+-----------------------------+----------------+----------------+--------------+
|Capital expenditure and      |                |                |              |
|financial investment         |                |                |              |
|Purchase of investments      |                |                |              |
|                             |           (109)|            (42)|          (58)|
+-----------------------------+----------------+----------------+--------------+
|Disposal of investments      |                |                |              |
|                             |             835|               -|             -|
+-----------------------------+----------------+----------------+--------------+
|Net cash outflow from capital|                |                |              |
|expenditure and financial    |                |                |              |
|investment                   |             726|            (42)|          (58)|
+-----------------------------+----------------+----------------+--------------+
|Financing                    |                |                |              |
|Issue of Shares              |              58|              93|            92|
+-----------------------------+----------------+----------------+--------------+
|Expenses paid in connection  |                |                |              |
|with shares issued           |                |                |              |
|                             |             (3)|             (5)|           (5)|
+-----------------------------+----------------+----------------+--------------+
|Net cash flow from financing |                |                |              |
|                             |              55|              88|            87|
+-----------------------------+----------------+----------------+--------------+
|Dividends paid               |           (543)|               -|             -|
+-----------------------------+----------------+----------------+--------------+
|Increase/(decrease) in cash  |                |                |              |
|                             |             190|              10|          (28)|
+-----------------------------+----------------+----------------+--------------+




         Notes to the Unaudited Financial Information on pages 2 and 3

 1         The  financial information for each  of the interim periods ended 31
August  2010 and 31 August 2009 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  2010. The  financial
information  for the  year ended  28 February 2010 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.

 2The  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.

 3Listed  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.

 4Copies  of the  Interim Statement  are being  sent to shareholders and further
copies can be obtained from the Company's Registered Office.




[HUG#1452256]








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 VCT plc via Thomson Reuters ONE
  



                                                                                                                                                                                    

a d v e r t i s e m e n t