25th Mar 2015 18:35
LONDON (Alliance News) - Oxford Technology VCT PLC Wednesday addressed a fall in Scancell Holding PLC's share price, saying that its holding of 6.9 million shares in the company is valued at GBP1.8 million at the bid price of 26 pence at the close of trading.
"On 12 December 2014, Oxford Technology VCT PLC announced that its unaudited net asset value (NAV) per ordinary share as at 30 November 2014 was 72p (End of Period NAV). The bid price of Scancell's shares used for the calculation of the End of Period NAV was 36p," Oxford Technology VCT said.
"Shareholders should note that should there be no other changes in valuations in Oxford Technology VCT PLC's portfolio apart from a change in the share price of Scancell Holding PLC to 26p, the Company's NAV per share would reduce by 12p to 60p," Oxford Technology VCT said.
Oxford Technology said it will value Scancell at the bid price at the close of trading on February 28 when it reports results for the year ended February 28. It expects to publish the results in June.
By Samuel Agini; [email protected]; @samuelagini
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