Ingenious Media Consulting Limited, a company which is a wholly-owned subsidiary in the Ingenious Group, which is controlled by Patrick McKenna, has entered into consultancy agreements with each of the Company's investee companies to provide management services. For the provision of such services, consulting fees totalling GBP166k excluding VAT (31 December 2009: GBP242k), have been invoiced in the year. No amounts remain outstanding as at 31 December 2010 (31 December 2009: GBP39k).

18. Events After the Balance Sheet Date

The Company declared an interim dividend of 7.0 pence per ordinary share on 17 January 2011 (2010: 7.0 pence). The dividend was paid on 11 February 2011 by way of a capital distribution reducing the Company's other reserves.

19. Capital Management

The capital management objectives of the Company are:

-- To safeguard its ability to continue as a going concern so that it can continue to provide returns to shareholders.

-- To ensure sufficient liquid resources are available to meet the funding requirements of its investments and to fund new investments where identified.

The Company has no external debt; consequently all capital is represented by the value of share capital, distributable and other reserves. Total shareholder equity at 31 December 2010 was GBP8,415k (2009: GBP8,973k).

In order to maintain or adjust its capital structure the Company may adjust the amount of dividends paid to the Shareholders, return capital to Shareholders, issue new shares or sell assets.

There have been no changes to the capital management objectives or the capital structure of the business from the previous period.

The Company is subject to the following externally imposed capital requirements:

-- As a public company Ingenious Live VCT 2 plc must have a minimum of GBP50k of share capital.

The level of dividends may be influenced by the need to comply with the VCT legislation which states that no more than 15% of income from shares and securities may be retained.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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