19th Sep 2019 15:00
(Alliance News) - Four Oxford Technology venture capital trusts posted their results on Thursday for the half-year ended August 31, with two of the trusts showing an improvement in net asset value and the other two a reduction.
Oxford Technology VTC PLC posted a NAV per share of 49.5 pence as at August 31, a hair below its 49.6p NAV figure on February 28. Its directors are not proposing a dividend and its shares were untraded in London at 35.00p on Thursday.
Oxford Technology 2 VCT PLC's NAV per share on August 31 was 32.8p, up 4.5% from 31.4p February 28. No dividend was declared but the firm is considering a dividend payment later in its financial year ending February 2020. Its shares were likewise untraded, at 25.00p.
"The directors are actively reviewing the financing needs of the company and its investee companies, and also the need for the company to meet the more stringent 80% qualifying level to maintain VCT status that has to be satisfied by 29 February 2020. We will then consider the ability for OT2 to pay a small dividend before the end of February 2020," said Oxford Technology 2.
Oxford Technology 3 VCT PLC posted a steeper 9.3% NAV per share rise to 97.8p on August 31 from 89.5p at the end of February. No dividend was proposed. Shares were untraded at 47.50p on Thursday.
Finally, Oxford Technology 4 VCT PLC's August 31 NAV per share was 43.4p, down 11% from 49.0p on February 28. The firm paid a 3.0p per share dividend in the period after disposing of GBP494,000 worth of shares in Castleton Technology PLC. No further dividends were proposed. As with the other trusts, its shares were untraded, at 26.50p.