Oxford Technology is the specialist
Oxford Technology VCTs - Quarterly Updates
The Oxford Technology VCTs have made Third Quarter Results Announcements.
Please find the reports available below:
Friday, 7th January, 2022Oxford Technology VCTs - Strategy Updates
The Oxford Technology VCTs have made announcements regarding strategy and company operations
For more information, please consult the RNSs using the following links:
Thursday, July 28th, 2021
Portfolio Update OT3
OT3 released a portfolio company update
For more information, please consult the RNS using the following link:
Wednesday, July 28th, 2021VCT Annual Report and Accounts
The Annual Report and Accounts for OT1, OT2, OT3 and OT4 to 28th Feb 2021 are now available to download
Wednesday, June 30th, 2021Portfolio Update OT3
OT3 released a portfolio company update
For more information, please consult the RNS using the following link:
Monday, June 7th, 2021Oxford Technology VCTs - Quarterly Updates
The Oxford Technology VCTs have made Third Quarter Results Announcements.
Please find the reports available below:
Friday, 18th December, 2020VCT Half-yearly Reports
On 9th October 2020, all four Oxford Technology VCTs released Half-yearly Reports:
Please find the reports available below:
Friday, 9th October, 2020The Oxford Technology VCTs AGM 2020
The AGMs for the Oxford Technology VCTs were held virtually at 2pm on Thursday 9 July 2020.
All the resolutions (for each VCT) were passed on a poll. The presentation, which includes details of the proxy votes received in advance, can be viewed here.
The OT VCTs received some questions ahead of the AGM which we present together with answers to those questions here.
Thursday, July 9th, 2020Oxford Technology 4 VCT - Dividend Declaration
The Oxford Technology 4 VCT has announced an interim dividend.
For more information, please consult the RNS using the following links:
Monday, July 6th, 2020Oxford Technology VCTs - Quarterly Updates
The Oxford Technology VCTs have made First Quarter Results Announcements.
For more information, please consult the RNSs using the following links:
Thursday, May 21st, 2020VCT Annual Report and Accounts
The Annual Report and Accounts for OT1, OT2, OT3 and OT4 to 29th Feb 2020 are now available to download
Thursday, May 21st, 2020Oxford Technology VCTs - Annual Accounts 29 February 2020 RNS announcement
The Oxford Technology VCTs have released their Annual Accounts for the year ending 29 February 2020.
For more information, please consult the RNSs using the following links:
Thursday, May 21st, 2020Oxford Technology VCT 2 - Dividend Declaration
Following the receipt of the final proceeds from the sale of OC Robotics earlier in the financial year, the Directors of Oxford Technology 2 VCT Plc are today declaring an interim capital dividend of 1.5 pence per share for the year to 29 February 2020.
The ex-dividend date is 6th February 2020.
The record date for the dividend is 7th February 2020.
The payment date is 21st February 2020.
Shareholders on the register on the record date will receive the dividend.
For more information, please consult the RNS using the following link:
Friday, January 24th, 2020Oxford Technology VCTs - Quarterly Updates
The Oxford Technology VCTs have released their quarterly updates for the quarter ending 30 November 2019.
For more information, please consult the RNSs using the following links:
Thursday, December 12, 2019Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT3. To read the RNS, please follow this link:
Monday, December 9, 2019Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT1. To read the RNS, please follow this link:
Wednesday, October 16, 2019Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT1. To read the RNS, please follow this link:
Thursday, October 10, 2019VCT Half-yearly Reports
On 19 September 2019, all four Oxford Technology VCTs released Half-yearly Reports:
Please find the reports available below:
Thursday, 19 September, 2019Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT2. To read the RNS, please follow this link:
Wednesday, September 18, 2019Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT1. To read the RNS, please follow this link:
Wednesday, July 4, 2019AGM Results
The AGMs for all four Oxford Technology VCTs took place on 3 July 2019. All resolutions put forward at the AGMs were passed.
The proxy results were as follows:
For more information, please consult the RNSs using the following links:
Investee presentations can be found below:
Wednesday, July 3, 2019Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT4. To read the RNS, please follow this link:
Wednesday, July 3, 2019Oxford Technology VCTs - Quarterly Updates
The Oxford Technology VCTs have released their quarterly updates for the quarter ending 31 May 2019.
For more information, please consult the RNSs using the following links:
Wednesday, July 3, 2019VCT Annual Report and Accounts
The Annual Report and Accounts for OT1, OT2, OT3 and OT4 to 28th Feb 2019 are now available to download
Oxford Technology VCTs - Annual Accounts 28 February 2019 RNS announcement
The Oxford Technology VCTs have released their Annual Accounts for the year ending 28 February 2019.
For more information, please consult the RNSs using the following links:
Wednesday, May 22, 2019Oxford Technology VCT 4 - Dividend Declaration
On 4th April 2019 Oxford Technology 4 VCT plc announced a dividend.
For more information, please consult the RNS using the following link:
Thursday, April 4, 2019Oxford 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, 2018OT2 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, 2018VCT 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, 2018OT2 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 in this circular.
The draft New Articles of Association to be adopted by the Company can be seen here.
This was announced in an RNS released at 07:00 on 22-Oct-2018 - "Proposed offer for subscription of a new class of shares, adoption of new articles of association, adoption of investment policy for new class of shares and Notice of General Meeting" which can be viewed here.
Monday, October 22, 2018Latest Quarterly Report for OT(S)EIS released
The latest quarterly report with updates on all the investments and portfolio companies is available here
Thursday, October 3, 2018Dividend 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, 2018AGM Results
The AGMs for all four Oxford Technology VCTs took place on the 12th of July 2018. All resolutions put forward at the AGMs were passed.
The proxy results were as follows:
For more information, please consult the RNSs using the following links:
Investee presentations can be found below:
Thursday, July 12, 2018Oxford Technology VCTs - Quarterly Updates
The Oxford Technology VCTs have released their quarterly updates for the quarter ending 31 May 2018.
For more information, please consult the RNSs using the following links:
Wednesday, June 27, 2018VCT Annual Report and Accounts
The Annual Report and Accounts for OT1, OT2, OT3 and OT4 to 28th Feb 2018 are now available to download
Thursday, May 3, 2018Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT2. To read the RNS, please follow this link:
Wednesday, May 2, 2018Oxford Technology VCTs - Total Voting Rights and Capital
The Oxford Technology VCTs have released a RNS on 17 April 2018 in relation to Total Voting Rights and Capital.
For more information, please consult the RNSs using the following links:
Tuesday, April 17, 2018Oxford Technology office in China
Oxford Technology has opened an office in Shanghai. Chenjie, who has a degree in engineering from Oxford University and who worked for OTM in Oxford before moving to China in 2017, is currently helping various Oxford Technology investees to get their technologies adopted in China, and also helping these companies to raise capital from Chinese investors. She is currently acting as the interim CEO for Sime, China. Sime has a technology for improving the outcome for premature babies with breathing difficulties. This is a big problem in China where the technology is being enthusiastically welcomed.
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For more information, please click here
Thursday, March 29, 2018Oxford Technology VCTs KIDs
The Oxford Technology VCTs have published their KIDs
The Key Information Document for OT VCT is available here: KID OT1.pdf
The Key Information Document for OT2 VCT is available here: KID OT2.pdf
The Key Information Document for OT3 VCT is available here: KID OT3.pdf
The Key Information Document for OT4 VCT is available here: KID OT4.pdf
Oxford Technology VCTs - Quarterly Updates
The Oxford Technology VCTs have released their quarterly updates for the quarter ending 30 November 2017.
For more information, please consult the RNSs using the following links:
Tuesday, December 19, 2017Dividend Declaration for OT2 VCT
On 15 November 2017 Oxford Technology 2 VCT plc announced a dividend.
For more information, please consult the RNS using the following link:
Wednesday, November 15, 2017Oxford Technology VCTs - Notice of AGM
The Oxford Technology VCTs will hold their AGMs on the 12th July 2018.
For more information, please consult the RNSs using the following links:
Monday, November 13, 2017Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT3. To read the RNS, please follow this link:
Monday, October 30, 2017VCT Half-yearly Reports
On 23 October 2017, all four Oxford Technology VCTs released Half-yearly Reports.
Please find the reports available below:
OT1 Interim Statement 2017.pdf
OT2 Interim Statement 2017.pdf
OT3 Interim Statement 2017.pdf
OT4 Interim Statement 2017.pdf
Monday, 23rd October, 2017Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT2. To read the RNS, please follow this link:
Thursday, September 7, 2017Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT2. To read the RNS, please follow this link:
Thursday, September 7, 2017Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT2. To read the RNS, please follow this link:
Tuesday, September 5, 2017OT2 VCT: Results of Tender Offer
Oxford Technology 2 VCT released an RNS on 4 September 2017 in relation to the results of the Tender Offer .
For more information, please consult the RNS using the following link:
Monday, September 4, 2017Oxford Technology 2 VCT plc : Tender Offer
Oxford Technology 2 VCT has released an RNS on July 25th 2017 in relation to a Tender Offer .
For more information, please consult the RNS using the following link:
The relevant documents can be downloaded from the following links
Tuesday, July 25, 2017Dividend Update for OT1 and OT3 VCT
On 5 July 2017 Oxford Technology VCT plc and Oxford Technology 3 VCT plc approved a final dividend at the AGM.
For more information, please consult the RNS using the following link:
Thursday, July 6, 2017AGM Results
The AGMs for all four Oxford Technology VCTs took place on the 5th of July 2017. All resolutions put forward at the AGMs were passed.
The proxy results were as follows:
For more information, please consult the RNSs using the following links:
Investee presentations can be found below:
Thursday, July 6, 2017Oxford Technology VCTs - Quarterly Updates
The Oxford Technology VCTs have released their quarterly updates for the quarter ending 31 May 2017.
For more information, please consult the RNSs using the following links:
Wednesday, July 5, 2017OT2 VCT: Disposal of OCR
Oxford Technology 2 VCT has released an RNS on June 8 2017 in relation to the sale of OCR .
For more information, please consult the RNS using the following link:
Thursday, June 8, 2017VCT Annual Report and Accounts
The Annual Report and Accounts for OT1, OT2, OT3 and OT4 to 28th Feb 2017 are now available to download
Thursday, May 11, 2017Oxford Technology VCTs - Annual Update - Total Voting Rights and Capital
The Oxford Technology VCTs have released a RNS on 31 March 2017 in relation to Total Voting Rights and Capital.
For more information, please consult the RNSs using the following links:
Friday, March 31, 2017Oxford Technology VCT - RNS Director's Dealings
Oxford Technology VCT has released a RNS on 09 February 2017 in relation to a notification of Director's dealings in OT1.
For more information, please consult the RNS using the following link:
Thursday, February 09, 2017Oxford Technology VCTs - Quarterly Updates
The Oxford Technology VCTs have released their quarterly updates for the quarter ending 30 November 2016.
For more information, please consult the RNSs using the following links:
Monday, January 16, 2017Oxford Technology Management Wins Best SEIS & EIS Fund Award
Wealth and Finance International's 2016 Fund Awards press release announced that Oxford Technology Management is the Winner of the UK's Best SEIS & EIS Fund Award.
Wednesday, November 2, 2016Announcement of correction
This is a correction of the announcement from 11:00 19.10.2016 BST. Reason for the correction: Correction to portfolio table. The RNS concerning the Interim Accounts for Oxford Technology 4 VCT to 31 August 2016, issued on 19 October, was missing a line in the portfolio table on page 3. This RNS, issued on 26 October includes the missing line. To read the RNS, please follow this link:
"CORRECTION: OXFORD TECHNOLOGY 4 VCT PLC : HALF-YEARLY REPORT"
Wednesday, October 26, 2016Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT1. To read the RNS, please follow this link:
Monday, October 24, 2016VCT Half-yearly Reports
On 19 October 2016, all four Oxford Technology VCTs released Half-yearly Reports.
Please find the reports available below:
OT1 Interim Statement 2016.pdf
OT2 Interim Statement 2016.pdf
OT3 Interim Statement 2016.pdf
The content for OT4 Interim Statement 2016 is superseded by the corrected version released on 26th October 2016
Wednesday, 19th October, 2016Dividend RNS Correction for OT1 VCT
On 12 July 2016 Oxford Technology VCT plc released a RNS with a correction to the Dividend Payment Date.
For more information, please consult the RNS using the following link:
Tuesday, 12th July, 2016AGM Results
The AGMs for all four Oxford Technology VCTs took place on the 8th of July 2016. All resolutions put forward at the AGMs were passed.
The proxy results were as follows:
For more information, please consult the RNSs using the following links:
The Oxford Technology Management Presentation can be viewed using the following link:
Investee presentations can be found below:
Friday, July 8, 2016Oxford Technology VCTs - Quarterly Updates
The Oxford Technology VCTs have released their quarterly updates for the quarter ending 31 May 2016.
For more information, please consult the RNSs using the following links:
Friday, July 8, 2016Oxford Technology VCTs - AGM Proxy Forms
The Oxford Technology VCTs will hold their AGMs on the 8th July 2016.
For copies of the proxy forms, please use the following links:
Friday, June 10, 2016VCT Annual Report and Accounts
The Annual Report and Accounts for OT1, OT2, OT3 and OT4 to 29th Feb 2016 are now available to download:
Friday, May 27, 2016Dividend Declaration for OT3 VCT
On 21 April Oxford Technology 3 VCT plc announced a dividend.
For more information, please consult the RNS using the following link:
Thursday, April 21, 2016Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT1. To read the RNS, please follow this link:
Monday, April 18, 2016Registrar Change - 29th February 2016
Oxford Technology announces that OT1, OT2, OT3 and OT4 VCTs share registers will be administered by Neville Registrars Limited with effect from Monday 29th February 2016.
From this date, correspondence from shareholders should be sent to:
Neville Registrars Limited
Neville House
18 Laurel Lane
Halesowen
West Midlands B63 3DA
Telephone: 0121 585 1131
General shareholder queries can also be sent to : info@nevilleregistrars.co.uk
Monday, February 29, 2016Dividend Declaration for OT2, OT3 and OT4 VCTs
On 12 January Oxford Technology 2 VCT plc, Oxford Technology 3 VCT plc and Oxford Technology 4 VCT plc each announced a dividend.
For more information, please consult the RNSs using the following links:
Tuesday, January 12, 2016Oxford Technology VCTs release Quarterly Updates
The Oxford Technology VCTs have released their quarterly updates for the quarter ending 30 November 2015. The unaudited Net Asset Values per Share as at that date are as follows:
OT1 VCT - 49.8p Dividends to date 52.7p
OT2 VCT - 30.6p Dividends to date 10.5p
OT3 VCT - 103.5p Dividends to date 10.0p
OT4 VCT - 79.5p Dividends to date 27.0p
For more information, please consult the RNSs using the following links:
Friday, January 8, 2016Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT1. To read the RNS, please follow this link:
Wednesday, December 23, 2015Notification of Major Interest in Shares
A Notification of Major Interest in Shares was issued for OT2. To read the RNS, please follow this link:
Friday, December 4, 2015VCT Interim Results Announced
The Net Asset Values as at 31st August 2015 have been announced as:
OT1 VCT - 67.8p Dividends to date 52.7p
OT2 VCT - 30.1p Dividends to date 10.5p
OT3 VCT - 105.5p Dividends to date 10.0p
OT4 VCT - 73.6p Dividends to date 27.0p
The Interim Statements are available to download from the VCT section of this website.
Wednesday, October 28, 2015Investee company 'Lightpoint Medical' in the news
Lightpoint Medical, an investee company from the OT(S)EIS fund, has received CE approval for its LightPath imaging system. To read the more about it, please follow this link:
Tuesday, October 20, 2015Investee company 'Animal Dynamics' in the news
One of OT(S)EIS's investee companies, Animal Dynamics, has been featured in the Economist. To read the article, please follow this link:
Monday, September 7, 2015AGM Results
The AGMs for all four Oxford Technology VCTs took place on the 26th of August. All resolutions were passed.
The Proxy Votes were as follows:
Wednesday, August 26, 2015Oxford Technology VCTs - Notice of AGM & Proxy Forms
The Oxford Technology VCTs will hold their AGMs on the 26th August 2015.
For copies of the formal notice and proxy forms, please use the following links:
Tuesday, July 21, 2015Oxford Technology VCTs release Quarterly Updates
The Oxford Technology VCTs have released their quarterly updates for quarter ending 31 May 2015. The unaudited Net Asset Values at that date are as follows:
OT1 VCT - 75p Dividends to date 52.7p
OT2 VCT - 28.6p Dividends to date 10.5p
OT3 VCT - 103.3p Dividends to date 10p
OT4 VCT - 79p Dividends to date 17p, with a further 10p dividend announced for payment on 7th August 2015
For more in depth details, please consult the RNSs using the following links:
Thursday, July 16, 2015Oxford Technology VCTs announce changes to their Boards
The Oxford Technology VCTs have appointed new Directors. They will now have a common board of 4 Directors (Alex Starling, Richard Roth, Robin Goodfellow, and David Livesley).
For more in depth details, please consult the RNSs released today using the following links:
Friday, July 03, 2015Lightpoint Medical wins UKBAA Award for Best Crowdfunding-Angel Investment of the Year
One of OT(S)EIS' Investee Companies has just won this prestigious award. For further details, please visit their LinkedIn page here:
LinkedIn - Lightpoint Medical Thursday, July 02, 2015
VCT Annual Financial Results Announced
The Net Asset Values as at 28th February 2015 have been announced as:
OT1 VCT - 65p Dividends to date 52.7p
OT2 VCT - 27.8p Dividends to date 10.5p
OT3 VCT - 95.6p Dividends to date 10p
OT4 VCT - 66p Dividends to date 17p, with a further 10p dividend announced for payment on 7th August 2015
Tuesday, June 30, 2015OT4 - Sale of Impact Technologies
At close of business on Friday 29 May 2015, Impact Technologies was acquired by Castleton Technologies Plc for £5m. Further details are available in an RNS announcement, viewable here:
Monday, June 1, 2015OT1 - RNS announcement regarding Scancell Share Price
The Directors of Oxford Technology VCT have issued an RNS regarding the recent reduction in Scancell's share price, viewable here:
Wednesday, March 25, 2015Investee company 'Expend' in the news
One of OT(S)EIS's investee companies, Expend, has recently been in the news. To read the article, please follow this link:
"Coming soon - a new way to simplify expenses from Expend"
Thursday, March 12, 2015WARNING - e-mail Scam
It has been brought to our attention that e-mails are being sent out in our name, requesting a payment for an attached invoice. These e-mails are not coming from Oxford Technology. We would recommend that you do not download or open the attachments, and instead delete and ignore the e-mail.
Should you have any queries or concerns, please contact Guy Daws at guy@oxfordtechnology.com
Thursday, January 08, 2015VCT 3rd Quarter Results Announced
The Net Asset Values as at 30th November 2014 have been announced as:
OT1 VCT - 72p Dividends to date 52.7p
OT2 VCT - 27p Dividends to date 10.5p
OT3 VCT - 100p Dividends to date 10p
OT4 VCT - 68p Dividends to date 17p
Tuesday, December 23, 2014VCT Interim Results Announced
The Net Asset Values as at 31st August 2014 have been announced as:
OT1 VCT - 68p Dividends to date 52.7p
OT2 VCT - 27p Dividends to date 10.5p
OT3 VCT - 98p Dividends to date 10p
OT4 VCT - 73p Dividends to date 17p
The Interim Statements are available to download from the VCT section of this website.
Tuesday, October 21, 2014HMRC confirms continuation of VCT Status OT1 and OT3
Shareholders will be aware from an RNS on 13 March 2014 that Oxford Technology VCT Plc and Oxford Technology 3 VCT Plc ( OTVCT)had received notice that Her Majesty's Revenue and Customs ("HMRC") had withdrawn VCT approval for the Company due to a purchase of shares in Scancell Holdings Plc ("Scancell") which HMRC considered as breaching the VCT rules.
Following analysis and representations by OTVCT's legal advisors, Joseph Hage Aaronson LLP ("JHA") and Jonathan Bremner of Counsel, HMRC notified OTVCT that it had set aside that decision pending further review (see RNS of 6 June 2014). Subsequently, following further representations by our legal advisors, HMRC indicated that it was reserving its position and that corrective action was required to be taken in order for OT VCT to retain VCT status (see announcement to shareholders of 5 August 2014). A proposal for the necessary corrective action was made by JHA on 12 August 2014. On 5 September 2014, HMRC indicated that it would be minded to permit the VCT to retain its VCT status for tax purposes provided that the corrective steps proposed by JHA were taken within an agreed timescale.
Following this indication, we have continued to work together with HMRC towards a satisfactory conclusion. We are now pleased to be able to confirm that the corrective steps proposed by our legal advisors have been successfully completed and HMRC have been so informed. We have received formal acknowledgement from HMRC that the corrective action taken has been sufficient and that OT VCT will now retain VCT status going forward subject to continued compliance with VCT rules.
This means that the tax reliefs previously given to the VCT and its shareholders will not be disturbed, and the entitlement to benefit from future reliefs available to VCTs will likewise continue.
Following the corrective action, the VCT's holding in Scancell is now as it was prior to July 2013. The corrective action undertaken has resulted in no financial gain or loss to the VCTs.
We wish to record our appreciation for the constructive way in which HMRC have engaged with us during the last six months. We also wish to thank Joseph Hage Aaronson LLP and Jonathan Bremner for their pro-active and professional work, which has enabled this matter to be brought to its satisfactory conclusion.
The Directors look forward to being able to focus future discussions with shareholders on the progression of the portfolio. As shareholders will be aware from reading the Annual Report, the OT1 portfolio contains some exciting (if still relatively early stage) companies, and the Directors continue to focus on generating maximum value for shareholders from OT VCT's holdings in these.
The content of this RNS has been approved by HMRC.
Friday, September 12, 2014AGM Results
The AGMs for all four Oxford Technology VCTs took place on the 27th of August. All resolutions were passed.
The Proxy Votes were as follows:
Wednesday, August 27, 2014AGM - Wednesday 27th August
The AGMs for all four Oxford Technology VCTs will be taking place on the 27th of August, at the Magdalen Centre, Oxford Science Park. For further details, please download the relevant files below:
Tuesday, August 05, 2014Decision by HMRC to withdraw VCT approval for OT1 & OT3 set aside : HMRC will reconsider afresh the issue of withdrawal of VCT approval
Following consideration of the legal opinion given on behalf of the Oxford VCTs by Graham Aaronson QC and Jonathan Bremner of Counsel, instructed by Joseph Hage Aaronson LLP, HMRC have today notified Joseph Hage Aaronson LLP that the decision dated 7 March 2014 to withdraw venture capital trust approval from Oxford Technology VCT Plc ("OT1") and Oxford Technology 3 VCT Plc ("OT3") has been set aside.
HMRC will now consider afresh whether it will be appropriate to withdraw VCT status from OT1 and OT3, and to assist their consideration of this matter they have invited Joseph Hage Aaronson LLP to make additional representations relating to the issue.
The effect of this is that the VCT status of OT1 and OT3 is, at the moment, to be treated as not having been withdrawn so that shareholders need not take any steps in relation to this matter. If, in the light of the further representations HMRC decide that VCT approval should not be withdrawn then that will conclude the matter so far as the shareholders' tax position is concerned.
If, on the other hand, HMRC decide that such approval should be withdrawn, then shareholders will be notified accordingly and will need to consider what steps they should take.
Friday, June 06, 2014VCT Annual Financial Results Announced
The Net Asset Values as at 28th February 2014 have been announced as:
OT1 VCT - 65p Dividends to date 52.7p
OT2 VCT - 26p Dividends to date 10.5p
OT3 VCT - 98p Dividends to date 10p
OT4 VCT - 69p Dividends to date 17p
Tuesday, May 27, 2014Details of Guidance from HMRC regarding Notifications
[Details taken from e-mail communication with HMRC]
Income tax relief - notification
Where an event occurs that results in any “VCT relief” (upfront income tax relief) falling to be withdrawn, an investor must within 60 days of “coming to know of the event” give notice to HMRC. It is only those investors who were issued shares within 5 years of the date of the withdrawal (7 March 2014) that will be effected.
We would recommend that notification is sent to our Small Company Enterprise Centre which administers the venture capital schemes:
Small Company Enterprise Centre (Admin team)
Medvale House
Mote Road
Maidstone Kent
ME15 6AF
Telephone: 03000 588907
e-mail enterprise.centre@hmrc.gsi.gov.uk
To withdraw the relief HMRC will be required to make assessments on the investors for the tax year in which the relief was obtained. We would not intend to make these assessments until the withdrawal has been determined as final, however if the appeals are to be heard by the tribunal we may consider issuing protective assessments sooner due to the expected delay in any hearing taking place. Any assessments made under these circumstances would include an explanation that they were protective and could be appealed against and stayed pending settlement of the VCTs’ own appeals. Should we move to issue assessments we would give you advance notice.
Withdrawal of CGT deferral relief
Investors who may have deferred gains brought back into charge are not under an obligation to notify HMRC at this time as this will be treated as a chargeable event occurring on the date of withdrawal and will fall within the 2013/14 tax year. We would expect any gains to be included in investor’s 2013/14 tax returns which would be due on 31 January 2015. Should the withdrawal still be under appeal at this point we would expect investors to include reference to the gain with a note of the circumstances within their tax return.
Details of the impact of withdrawal of VCT approval on investors were summarised in the statement HMRC published on 20 March, available here
http://www.hmrc.gov.uk/news/vct-note.pdf
Thursday, May 22, 2014OT1 & OT3’s appeal against HMRC withdrawal of VCT approval – Update
At the meeting held 28 April between HMRC and Oxford Technology and its legal advisers, it was agreed that certain detailed arguments in support of the VCTs' appeal would be submitted in writing to HMRC, who will consider them as urgently as possible.
It is expected that these detailed arguments will be provided to HMRC before the end of this week.
Wednesday, April 30, 2014OT1 & OT3’s appeal against HMRC withdrawal of VCT approval – Next Steps
On 26 March 2014 OT1 and OT3 appealed against HMRC’s withdrawal of VCT approval. The appeal will be led by Graham Aaronson QC of Joseph Hage Aaronson LLP.
The statutory appeal process requires that the appeal is first made to HMRC. In the event that the matter cannot be resolved at that initial stage, provision is then made for a review by HMRC of its decision and, if the outcome of the review is not favourable, an appeal to the First-tier Tribunal (Tax Chamber), which is independent of HMRC.
HMRC has helpfully offered to meet to discuss the appeals process and any request for re-approval with Oxford Technology directly. Oxford Technology has accepted this offer and it will therefore be engaging in a dialogue with HMRC in order to determine whether this matter can be resolved by agreement. To this end a meeting has been scheduled for 28 April 2014 between HMRC and Oxford Technology.
If resolution cannot be reached via agreement, the further avenues of review and appeal will thereafter be explored. If it is necessary to pursue the appeal process to the First-tier Tribunal, the likely timescale for such a hearing is in the region of 9 to 14 months from the lodging of the appeal with the Tribunal.
Individuals who have invested in OT1 and OT3 should, as previously indicated, seek their own personal financial advice from their stockbroker, bank manager, solicitor, accountant, fund manager or other independent financial adviser who specialises in advising on the acquisition or disposal of shares in order that they may ascertain the implications associated with the Company losing its VCT approval and take appropriate action.
Further announcements will be made to keep shareholders fully informed of developments.
Thursday, April 17, 2014OT1 & OT3 lodge appeal against HMRC withdrawal of VCT approval
OT1 & OT3 have sent a letter of appeal to HMRC, dated 26th March.
The appeal will be led by Graham Aaronson QC of Joseph Hage Aaronson LLP.
Further announcements will be made to keep shareholders fully informed of developments.
Thursday, March 27, 2014OT1 & OT3 - VCT approval withdrawn
Owing to an inadvertant technical error, HMRC has withdrawn VCT approval from OT1 & OT3. Oxford Technology intends to appeal against this decision.
For more information, please read the following announcements on the London Stock Exchange:
OT2 & OT4 are unaffected by this withdrawal.
Friday, 14 March, 2014VCT 3rd Quarter Results Announced
The Net Asset Values as at 30th November 2013 have been announced as:
OT1 VCT - 61p Dividends to date 52.7p
OT2 VCT - 26p Dividends to date 10.5p
OT3 VCT - 93p Dividends to date 10p
OT4 VCT - 67p Dividends to date 17p
Friday, December 20, 2013VCT Interim Results Announced
The Net Asset Values as at 31st August 2013 have been announced as:
OT1 VCT - 70p Dividends to date 52.7p
OT2 VCT - 26p Dividends to date 10.5p
OT3 VCT - 100p Dividends to date 10p
OT4 VCT - 67p Dividends to date 17p
Monday, October 07, 2013Biomoti Technology Highlighted
BioMoti, one of OT(S)EIS's investee companies, has released a very informative press release about its technology. Read it on their website, at the following link:
BioMoti Technology Information
Wednesday, June 05, 2013VCT Annual Financial Results Announced
The Oxford Technology VCTs announce their Annual Results for the year ended 28 February 2013.
OT1 VCT - 74p Dividends to date 52.7p
OT2 VCT - 27p Dividends to date 10.5p
OT3 VCT - 97p Dividends to date 10p
OT4 VCT - 70p Dividends to date 17p
Thursday, May 23, 2013VCT 3rd Quarter Results Announced
The Net Asset Values as at 30th November 2012 have been announced as:
OT1 VCT - 95p Dividends to date 42.7p
OT2 VCT - 27p Dividends to date 10.5p
OT3 VCT - 105p Dividends to date 10p
OT4 VCT - 68p Dividends to date 17p
Wednesday, December 12, 2012VCT Interim Results Announced
The Net Asset Values as at 31st August 2012 have been announced as:
OT1 VCT - 68p Dividends to date 42.7p
OT2 VCT - 25p Dividends to date 10.5p
OT3 VCT - 91p Dividends to date 10p
OT4 VCT - 67p Dividends to date 17p
Monday, October 01, 2012VCT Annual Financial Results Announced
The Oxford Technology VCTs announce their Annual Results for the year ended 29 February 2012.
OT1 - Net Asset Value 25p - Dividends paid to date 42.7p
OT2 - Net Asset Value 26p - Dividends paid to date 10.5p
OT3 - Net Asset Value 71p - Dividends paid to date 10p
OT4 - Net Asset Value 90p - Dividends paid to date 3p with an additional 14p paid in April 2012
Friday, June 01, 2012OT4 Announces the Sale of its stake in Meciria
The Board of OT4 is pleased to announce that it has sold its stake in one of its investee companies, Meciria Ltd. OT4 receives an initial cash consideration of £2.2m. Additional consideration may be received over the next four years depending on Meciria’s performance.
The effect of the initial cash consideration is to increase the net asset value of OT4 by 14.6 pence per share. The likelihood and size of additional consideration is uncertain but the Board will ascribe a further 1.9 pence to that additional consideration for the purposes of its net asset value.
Wednesday, February 29, 2012Net Asset Values to December 2011
OT1 VCT - 27p Dividends to date 42.7p
OT2 VCT - 27p Dividends to date 10.5p
OT3 VCT - 71p Dividends to date 10p
OT4 VCT - 73p Dividends to date 3p
Friday, January 20, 2012Ixaris listed in The Sunday Times Tech Track 100
Ixaris Systems, and OT3 VCT investee company has been ranked 22 in The Sunday Times Tech Track 100 league table, which ranks Britain's 100 private tech companies with the fastest growing sales over the latest three years.
Tuesday, November 01, 2011Interim Half Year Results Announced
The Net Asset Values as at 31st August 2011 have been announced as:
OT1 VCT - 26p Dividends to date 42.7p
OT2 VCT - 28p Dividends to date 10.5p
OT3 VCT - 71p Dividends to date 10p
OT4 VCT - 69p Dividends to date 3p
Tuesday, October 04, 2011Oxford Technology 4 VCT Announces Dividend Payment of 3p per share
The Company announces that it will be paying an interim dividend of 3 pence on each ordinary share of 10 pence each. This follows the sale of its holding in Dexela Ltd.
No scrip alternative is offered and no dividend reinvestment plan is in place.
As the Company is a venture capital trust, the dividend is not treated as taxable income in the hands of qualifying investors.
The ex-dividend date is 3rd August 2011.
The record date for the dividend is 5th August 2011.
The payment date is 2nd September 2011.
Thursday, July 28, 2011
OT4 VCT - PERKIN ELMER ACQUIRES DEXELA LTD
Oxford Technology 4 VCT Plc announces that their portfolio company Dexela Limited has been sold to Perkin Elmer Inc., a US healthcare technology leader. OT4 has today received £581,486 from its original equity investment of £300,000 with further payments due depending on future sales.
Friday, July 01, 2011