Interim Management Statement
19 11월 2009 - 8:03PM
UK Regulatory
TIDMSVC2
SPARK VCT 2 plc ('the Company')
Interim Management Statement
This Interim Management Statement for the quarter ended 30 September 2009 is
unaudited and is provided in accordance with Rule 4.3 of the UK Listing
Authority's Disclosure and Transparency Rules. The statement also includes
relevant information from the period from 1 October 2009 to the date of issue.
The Statement has been prepared solely to provide information in order to meet
the relevant requirements of the Disclosure and Transparency Rules, and should
not be relied on by shareholders, or any other party, for any other purpose.
Net Asset Value ("NAV")
The NAV as at 30 September 2009 was 32.1p per share compared with a NAV of
33.5p per share as at 30 June 2009. The decline in the NAV of 1.4p per share in
the quarter (4.2%) is a reflection mainly of a downward revaluation in the
unquoted venture capital portfolio, partly offset by a net appreciation in
value of the quoted venture capital investments.
During the quarter the Company invested a total of GBP310,000 in follow-on
investments in existing portfolio companies: GBP11,000 in Academia Networks
Limited as a bridging loan ahead of a new third-party funding round expected to
close at a significantly improved valuation, GBP22,000 in Celona Technologies
Limited as part of a bridging loan ahead of a new third-party funding round, GBP
142,000 in Oxford Immunotec Limited as the first tranche of the Company's share
of an additional financing, GBP43,000 in Sift Group Limited as part of a GBP500,000
rights issue and GBP91,000 in Vivacta Limited as part of a GBP2.8 million
additional financing round provided by the existing syndicate.
The Company received GBP466,000 from the release of amounts held in escrow
following the sale in January 2008 of Nomad Payments Limited.
Share Capital
The number of ordinary shares in issue at 30 September 2009 was 77,934,550.
During the quarter ended 30 September 2009, 55,983 shares were bought back for
cancellation.
Other than described above, the Board is not aware of any events during the
period from 1 October 2009 to the date of this statement which would have had a
material impact on the financial position of the Company.
Issued on behalf of the Board
Nghi Tran
Company Secretary
19 November 2009
END
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