ILV2 Ingenious 2

TIDMILV2

RNS Number : 3160D

Ingenious Live VCT 2 plc

15 May 2012

15 May 2012

Ingenious Live VCT 2 plc (the "Company")

Interim Management Statement

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

INVESTMENT ACTIVITIES & PERFORMANCE

With the Company having committed all of the required 70% of its funds in VCT qualifying investments jointly with Ingenious Live VCT 1 plc (the "VCTs"), the management team is now focused upon creating maximum value for the shareholders through the further development of the Company's successful live events portfolio.

With strong sales already achieved for a number of events taking place this summer the Manager is hopeful of further increasing the net asset value total return per share from its current 99.7p per share, which is made up of 35p dividends paid to date together with a residual net asset value of 64.7p per share.

The VCTs exited their share of the Creamfields Festival during the Period. The total consideration for this sale was GBP2.672 million for the VCTs (GBP1.7 million to repay loan notes and GBP972,000 to acquire the VCTs' share capital in CFDT Limited). Following the onward sale of the Cream Group on 9 May to Live Nation, the VCTs received an additional GBP269,000 in line with the original exit arrangements.

80s Rewind and Field Day festivals are already ahead of their 2011 sales numbers and both events are forecasting to sell out their full capacity again.

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 series was extended with an additional prime time show.

The third Golf Live event takes place at the London Club in Kent between 18 and 20 May and has already firmly secured its place in the golfing calendar.

dividend payment

The Company announced its third dividend of 21p per share on 2 February 2012 (2011: 7p per share), which was paid on 24 February 2012.

non-qualifying investments

Currently, GBP238,000 of the remaining proceeds raised by the Company is invested by the Manager in a number of cash funds (OEICs) in accordance with the Investment Policy.

 
 Period ended                    31 March 2012   31 December 
                                                        2011 
------------------------------  --------------  ------------ 
 
 Net asset value 
  GBP'000                                5,978         7,972 
 Net asset value total return 
  per share GBP'000                      9,213         9,266 
 Shares in issue (number)            9,242,845     9,242,845 
 

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 Live 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

This information is provided by RNS

The company news service from the London Stock Exchange

END

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