OXT Oxford Technology Venture Capital Trust PLC

Net Asset Value(s)

Net Asset Value(s)

Following yesterday’s release of the audited results of the Company for the year ended 29 February 2020, the Board wishes to draw the attention of shareholders to the following section of the ‘Covid-19 Response’ section of the Chairman’s Statement, reproduced verbatim from the Annual Accounts document and yesterday’s RNS:

“The Board and the Investment Adviser have sought to assess the current impact on valuations.  Using latest bid prices for quoted investees and the Directors’ normal determinants of fair value for unquoted investees we estimate that the NAV per share has reduced to an unaudited 38.8p (a drop of 13%) as of mid-May.

First Quarter Results Announcement

Given the statement above, we do not currently intend to issue a NAV as at 31 May 2020. We will update the market further with our half year results to the end of August 2020. We do not currently consider that publishing this quarterly result will add any value to shareholders, and not doing so will save some costs”.

The Board considers that the NAV per share of 38.8p remains a materially accurate unaudited valuation as of 20 May 2020, a drop of 13% from the audited valuation of 44.7p per share as at 29 February 2020.  The unaudited valuation of 38.8p per share was calculated using the closing bid price of Scancell Holding plc on 14 May 2020 of 6.8p per Scancell share.

Further information:



Lucius Cary or Andrea Mica 01865 784466

EN
21/05/2020

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OXTOxford Technology Venture Capital Trust PLC

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