IEV2 Ingenious 2

 
TIDMIEV2 
 
 

15 May 2012

Ingenious Entertainment VCT 2 plc ("the Company")

Interim Management Statement

For the period 1 January 2012 to 14 May 2012 ("the Period")

OVERVIEW AND FUNDRAISING

With the Ordinary Share class and C Share class now fully invested, the Company is actively seeking new investments to complement the current portfolio of investments and to deploy funds on behalf of the D Shares, E Shares, F Shares and G Shares jointly with Ingenious Entertainment VCT 1 plc (together "the Entertainment VCTs").

The G Share Offer raised a gross amount of over GBP5.5 million during the period to 5 April 2012 across the Entertainment VCTs. As also announced today, the G Share Offer has been extended to 5pm on 31 August 2012.

ACTIVITY

In March 2012, the Entertainment VCTs made an investment intoLiverpool Sound City Limited- the company behind Liverpool Sound City - a live music festival and media business expo and conference. This is a co-investment between the Entertainment VCTs' D Share classes for GBP1.2 million. There are a number of other investments which are currently under consideration.

In terms of the current portfolio there has been significant amount of activity with XOYO now establishing itself as a premium live venue on the London circuit with over 20,000 people attending the venue in April 2012.

The fourth season of Let's Dance took place in February of this year and again received strong ratings with over seven million viewers regularly tuning in. The season was extended with an additional prime time show.

The Company's investee companies have a number of events and festivals taking place with the third Golf Live event taking place at the London Club in Kent between 18 and 20 May 2012. Liverpool Sound City takes place between 17and 19 May 2012. RewindFestivalNorth will be staged in Perth, Scotland between 20 and 22 July 2012. The original Rewind Festival, held annually in Henley-on-Thames, will be staged between 19 and 21 August 2012. Ticket sales for all these events are already ahead of expectations.

DIVIDEND PAYMENT

The Company announced dividends of 5p per share on the Ordinary Share, C Share and D Share classes on 2 February 2012 (2011: 5p per Ordinary Share, 5p per C Share, 5p per D Share). These dividends were paid on 24 February 2012. The Company announced dividends of 5p per share on the E Share and F Share classes on 29 March 2012 (2011: no dividends paid) which were paid on 1May 2012.

NON-QUALIFYING INVESTMENTS

Currently, GBP11 million of the remaining proceeds raised by the Company under the Ordinary Share, C Share, D Share, E Share, and G Share Offers (see below) is invested by the Manager in a number of cash funds (OEICs) and in relation to the remaining proceeds of the F Share Offer in a balanced multi-asset management portfolio, in accordance with the Investment Policy of the Company. Such investments have been made while the majority of those funds await investment in suitable VCT qualifying investments.

ALLOTMENT OF G SHARES

In November 2011, the Entertainment VCTs launched the G Share Offer to create further pools of capital. As at 5 April 2012 the Entertainment VCTs had each allotted 2,756,760 G Shares.

 
Period ended            5 April 2012  31 December 2011 
Net asset value GBP'000 
Ordinary Share          7,762         8,286 
C Share                 1,993         2,148 
D Share                 5,423         5,791 
E Share                 2,636         2,649 
F Share                 1,464         1,466 
G Share                 2,605         - 
 
 
Period ended                        5 April 2012  31 December 2011 
Net asset value totalreturn GBP'000 
Ordinary Share                      9,292         9,306 
C Share                             2,415         2,430 
D Share                             6,097         6,128 
E Share                             2,636         2,649 
F Share                             1,464         1,466 
G Share                             2,605         - 
 
 
Period ended               5 April 2012  31 December 2011 
Shares in issue (number) 
Ordinary Share             10,205,011    10,205,011 
C Share                    2,810,596     2,810,596 
D Share                    6,785,624     6,785,624 
E Share                    2,846,122     2,846,122 
F Share                    1,572,095     1,572,095 
G Share                    2,756,760     - 
 
 

A copy of this Interim Management Statement can be obtained from the following websites:

www.londonstockexchange.com

www.ingeniousvcts.co.uk

Enquiries to:

Sarah Cruickshank

Company Secretary

Ingenious Entertainment VCT 2 plc

15 Golden Square

London

W1F 9JG

0207 319 4000

MHP Communications

Reg Hoare / Barnaby Fry / Simon Hockridge / Giles Robinson

Tel: 020 3128 8100

ingenious@mhpc.com

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