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The Oxford Technology VCTs
VCTs were introduced by the UK Government in 1995 to encourage individuals to invest in UK smaller companies. This was achieved by offering VCT investors a series of tax benefits.
Oxford Technology VCT Plc (OT1) was listed on the London Stock Exchange in April 1997. It raised £4.85m in 1997-98. Further top-up offers have raised an additional £245k.
Oxford Technology 2 VCT Plc (OT2) was listed on the London Stock Exchange in April 2000. It raised £6m in 2000-01. Further top-up offers have raised an additional £468k.
Oxford Technology 3 VCT Plc (OT3) was listed on the London Stock Exchange in 2002. It raised £5.4m in 2002-03. Further top-up offers have raised an additional £995k.
Oxford Technology 4 VCT Plc (OT4) was listed on the London Stock Exchange in 2004. It raised £10.2m. Further top-up offers have raised an additional £679k.
All four of the Oxford Technology VCTs have built a balanced portfolio of qualifying investments with the following characteristics at the time of initial investment:
- Unlisted, UK based, science, technology and engineering businesses (investee companies Scancell Holdings Plc, Abzena Plc and MirriAd Advertising Plc have subsequently listed on AIM, and in 2015 Impact Applications was bought by AIM listed Castleton Technology Plc)
- Investments typically in the range of £100k to £500k, although a few investments outside this range have been contemplated
- Generally located within approximately 60 miles of Oxford so that the Company can be an active investor
The key feature of the Oxford Technology VCTs is that they focus on investing in early stage and start-up technology companies. Early stage companies are those which have received some initial sales. Start-up companies are those which are at an earlier stage; they will usually have already developed their initial product or service and be close to achieving their first sales.
The returns from such investments when successful can be highly attractive but the associated risks are high. It is intended that most of this risk will relate more to technical success or failure than to fluctuations in the major financial markets. As a result, the fund can act as a strong diversifier to a shareholder’s overall portfolio by providing exposure to a different risk / reward profile from mainstream markets.
All the Oxford Technology VCTs have been approved as VCTs by HMRC and continues to comply with all statutory requirements.
Companies’ objectives are to maximise shareholder value and so we continue to work with our investee companies to help them succeed and to seek exits as and when appropriate. The aim is to build shareholder value, providing investors with a modest ongoing yield and one-off payments as and when exits are achieved. Distributions to shareholders will be made via dividend payments or, if it is considered to be in shareholders’ interests, using other mechanisms such as buybacks (e.g. a tender offer).
Oxford Technology VCTs - Quarterly Updates
The Oxford Technology VCTs have released their quarterly updates for the quarter ending 30 November 2018.
For more information, please consult the RNSs using the following links:Monday, December 17, 2018
OT2 GM Results
The OT2 GM took place on the 19th of November 2018. All resolutions put forward at the GM were passed.
The proxy results were as follows:
For more information, please consult the RNS using the following link:Monday, November 19, 2018
VCT Half-yearly Reports
On 24 October 2018, all four Oxford Technology VCTs released Half-yearly Reports:
Please find the reports available below:Wednesday, 24th October, 2018
OT2 VCT - Recommended Proposals and Notice of General Meeting
The Board of Oxford Technology 2 Venture Capital Trust Plc today announces its intention, subject to Shareholders’ approval, to launch an offer for subscription of a new class of shares (the B Shares) and to appoint a third party, Chelverton Asset Management Limited (Chelverton) to manage this new share class. More information can be seen here.Monday, October 22, 2018
Dividend Declaration for OT4 VCT
On 2nd August 2018 Oxford Technology 4 VCT plc announced a dividend.
For more information, please consult the RNS using the following link:Thursday, August 2, 2018