TIDMIEVC

Ingenious Entertainment VCT 2 plc ("the Company")

Interim Management Statement

For the period 1 January 2014 to 13 May 2014

OVERVIEW AND FUNDRAISING

On a combined basis, the C Share, D Share, E Share and F Share classes now have more than 70% of their investments in qualifying holdings as measured by the VCT legislation. The Manager continues to actively seek new investments to complement the current investment portfolio and to deploy any remaining funds on behalf of the G Share and H Share classes jointly with Ingenious Entertainment VCT 1 plc (together "the VCTs").

ACTIVITY

In early March 2014, the VCTs made an investment into Zoo Project Festival Limited to promote an existing music event, The Zoo Project,which is based upon the highly successful event of the same name that is held in Ibiza each year. The event will take place at Donington Park in September 2014.

In March 2014, the VCTs also made an investment into FM3 Limited ("FM3"). The company films and records music festival performances and generates revenues from this content through both traditional TV media and online channels. FM3 also delivers 'big screen' installations to festivals and sells advertising space when available.

In terms of the current portfolio, ticket sales for the summer of 2014 events have begun well and Field Day (June 2014), Love Supreme (July 2014) and Shakedown (July 2014) are all showing encouraging levels of sales. Field Day is performing particularly well with its new two day format. The second day, featuring a headline performance from The Pixies, is already estimated to have broken even and so should now trade profitably in its first year, as should the event as a whole.

The Liverpool Sound City 2014 conference and live music event was also held between 1 and 3 May. The event was once again very well received and plans are being considered to significantly increase the event's footprint in 2015.

DIVIDEND PAYMENT

The Company announced dividends of 20p per C Share and 5p per D Share, E Share, F Share and G Share on 6 February 2014 (2013: 5p per C Share, D Share, E Share, F Share and G Share). These dividends were paid on 7 March 2014. The Company also announced a dividend of 5p per H Share on 9 April 2014 (2013: GBPNil) which was paid on 9 May 2014.

NON-QUALIFYING INVESTMENTS

Currently, GBP5.9 million of the remaining proceeds raised by the Company under its previous share offers (and held in its C Share, D Share, E Share, F Share, G Share and H Share classes) are invested by the Manager in a number of cash funds (OEICs), and in a balanced multi-asset management portfolio, in accordance with the investment policy of the Company.

 
Period ended              31 March 2014 (unaudited)  31 December 2013 
                                                     (audited) 
Net asset value GBP'000 
C Share                   1,137                      1,707 
D Share                   4,309                      4,679 
E Share                   2,032                      2,189 
F Share                   1,170                      1,258 
G Share                   2,859                      3,048 
H Share                   2,489                      2,488 
Period ended              31 March 2014 (unaudited)  31 December 2013 
                                                     (audited) 
Net asset value total return GBP'000 
C Share                   2,261                      2,269 
D Share                   5,656                      5,689 
E Share                   2,459                      2,474 
F Share                   1,406                      1,415 
G Share                   3,211                      3,224 
H Share                   2,489                      2,488 
Period ended              31 March 2014              31 December 2013 
Shares in issue (number) 
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                   3,518,044                  3,518,044 
H Share                   2,660,842                  2,660,842

Enquiries to:

Sarah Cruickshank

Company Secretary

Ingenious Entertainment VCT 2 plc

15 Golden Square

London

W1F 9JG

Tel: 0207 319 4000

Powerscourt Group

Justin Griffiths/Carmen Murray

Tel: 0207 250 1446

ingenious@powerscourt-group.com

 
 
 
This information is provided by Business Wire
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