26th Sep 2007 10:07
Oxford Technology 2 VCT PLC26 September 2007 Oxford Technology 2 Venture Capital Trust plc Interim Statement For the period 1 March 2007 to 31 August 2007 Statement on behalf of the Board Net assets per share at 31 August 2007 were 68p and with dividends paid to dateof 6p per share, the total return to date is 74p per share. This compares to atotal return of 75p at 28 February 2007 and 87p at 31 August 2006. Details of all investees are given in the newsletter, which is available onwww.oxfordtechnology.com. OT2VCT owns significant stakes in many companieswhich are making reasonable or good progress and which continue to have thepotential to deliver significant returns. Other companies are not doing sowell, and these have been written down in value. On behalf of the Board John Jackson Chairman Unaudited financial information Profit and Loss Account Six months Six months Year tofor the Period to 31 Aug 07 to 31 Aug 06 28 Feb 07 £000 £000 £000 Turnover 7 10 19Expenses (78) (85) (161) _____ _____ _____Operating Profit (71) (75) (142)Loss on ordinary activities beforetax (71) (75) (142) Tax on loss on ordinary activities - - - _____ _____ _____Profit/(loss) for financial periodafter tax (71) (75) (142) _____ _____ _____ Dividends - (300) (300)Retained loss (71) (375) (442) _____ _____ _____ Earnings Per Share (1.18)p (1.25)p (2.37)p ===== ===== ===== Statement of Total Recognised Six months Six months Year toGains and Losses for the Period to 31 Aug 07 to 31 Aug 06 28 Feb 07 £000 £000 £000 Loss for the financial period (71) (75) (142) Unrealised (loss)/profit oninvestments held at fair value (28) 912 275 _____ _____ _____Total (loss)/profit recognized inthe period (99) 837 133 ===== ===== ===== Summarised Balance Sheet 31 Aug 07 31 Aug 06 28 Feb 07 £000 £000 £000 Investments held at fair value 4,026 4,679 4,042Other net current assets 33 183 116 _____ _____ _____Net assets 4,059 4,862 4,158 ===== ===== ===== Capital and ReservesCalled up share capital 600 600 600Profit and loss account 2,366 2,504 2,437Revaluation reserve 1,093 1,758 1,121 _____ _____ _____ ShareholdersO funds 4,059 4,862 4,158 ===== ===== =====Net asset value per share 68p 81p 69p ===== ===== ===== Cash flow Statement for the period Six months to Six months to Year to 31 Aug 07 31 Aug 06 28 Feb 07 £000 £000 £000Net cash outflow from operatingactivities (26) (89) (141)Dividends paid - (300) (300)Capital expenditure and financialinvestmentPurchase of investments (13) (101) (101) ____ _____ _____ Net cash outflow from capitalexpenditure and financialinvestment (13) (101) (101) _____ _____ _____Decrease in cash (39) (490) (542) ===== ===== ===== Notes to the Unaudited Financial Information 1 The financial information for each of the interim periods ended 31 August 2007and 31 August 2006 is unaudited and does not constitute statutory accountswithin the meaning of the Companies Act 1985. It has been prepared usingaccounting policies consistent with those set out in the companys statutoryaccounts for the year ended 28 February 2007. The financial information for theyear ended 28 February 2007 has been extracted from the companys statutoryaccounts for that period which contained an unqualified audit report and whichhave been filed with the Registrar of Companies. 2 The calculation of earnings per share for the period is based on the returnattributable to shareholders divided by the weighted average number of shares inissue during the period. 3 Listed investments are stated at market value based upon middle market pricesat the accounting period end. The unrealised depreciation or appreciation onthe valuation of investments and the gains and losses arising on the disposal ofinvestments are dealt with in the capital reserve. 4 Copies of the Interim Statement are being sent to shareholders and furthercopies can be obtained from the Companys Registered Office. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Oxford Technology 2 VCT