Ingenious Live VCT 2 plc Statement re Annual -7-
08 Abril 2011 - 5:00AM
UK Regulatory
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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