MIG 2 VCT
Matrix Income & Growth 2 VCT plc
Enquiries 020 3206 7109
Welcome to the webpage of Matrix Income & Growth 2 VCT plc. The Company was launched in the 2000/2001 tax year and raised £12.4 million, net of issue costs. In the 2005/2006 tax year, the Company changed its name and investment strategy and launched a new C share issue that raised £8.6 million, net of issue costs and in 2008/2009 raised a further £7.3 million net of issue costs. In September 2010, the Company merged its share classes, further details are given below.
Investment Objective
The Company’s objective is to provide investors with a regular income stream, arising both from the income generated by the companies selected for the portfolio and from realising any growth in capital.
Investment Adviser - Matrix Private Equity Partners
Matrix Private Equity Partners LLP (MPEP) is one of the most experienced teams focused on VCT investment, currently advising around £130 million of funds on behalf of four VCTs. There are a number of features that make MPEP stand out as a VCT manager. For further information on MPEP click here.
Share Class Merger
At the Extraordinary General Meeting and Class Meetings held on 9 & 10 September 2010, shareholders approved the merger of the Company's Ordinary and C Share Funds.
Each Ordinary Share in issue at 9 September 2010 was redesignated as a C Share at a ratio of 0.82701277, resulting in a further 9,311,976 C Shares. The 26,657,715 C Shares then in issue were redesignated as new Ordinary Shares. The balance of 1,947,957 Ordinary Shares after the conversion were converted to Deferred Shares and bought back by the Company for an aggregate price of one penny and cancelled by the Company.
At 10 September, the net assets of the enlarged share class was £24,228,910 and the number of new Ordinary Shares in issue 26,657,715, giving a net asset value of 90.89 pence per share.
Further information can be found in the "Share class merger circular Aug 10" under Investor and Financial Information.
Boiler Room Scams - Shareholder warning
Boiler rooms are high pressure sales firms, often based overseas, that target investors illegally offering them non-tradable, overpriced or even non-existent shares. Alternatively, if you already own shares in a company, you may receive a call from someone offering to buy your shares, usually at a higher price than their market value. Please click here to read a recent letter warning Shareholders about the activities of boiler rooms or click here to read the FSA's advice.
Latest Performance Data
| Date |
Net assets (£m) |
Net asset value (NAV) per share (p) |
Net cumulative dividends paid per share (p) |
NAV total return per share to shareholders since launch |
Share price (p)* |
|---|---|---|---|---|---|
| Ordinary Shares (former C Shares, raised 2005/2006) - Opening NAV: 94.50p |
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| As at 31 July 2011 |
24.55 |
94.96 |
6.00 |
100.96 |
62.50 |
| Ordinary Shares (former C Shares, raised 2008/2009) - Opening NAV: 86.02p |
|||||
| As at 31 July 2011 |
24.55 |
94.96 |
10.00 |
104.96 |
62.50 |
| Ordinary Shares (former Ordinary Shares, raised 2000/2001) - Opening NAV: 94.00p |
|||||
| As at 31 July 2011 |
24.55 |
78.54** |
30.10 |
109.33 |
62.50 |
* Source: London Stock Exchange. ** Re-stated following share class merger at the conversion ratio of 0.827.
| Fundraising |
Rate of income tax relief |
Cost per share net of income tax relief (p) |
NAV total return per share (p) |
Profit/(loss) per share before income tax relief (p)* |
Profit/(loss) per share after income tax relief (p) |
| 2005/2006 |
40% |
60.00 |
106.16 |
6.16 |
46.16 |
| 2008/2009** |
30% |
64.67 |
102.16 |
9.77 |
37.49 |
| 2000/2001*** |
20% |
80.00 |
109.62 |
9.62 |
29.62 |
* Based on initial cost of 100p for tax years 2000/2001 and 2005/2006 and 92.39p for 2008/2009.
** Based on an issue price of 92.39p per share.
*** Additional capital gains tax deferral relief of up to 40% available to qualifying shareholders.
For historic performance data, click here.
Latest Dividend Paid
On 17 March 2011, the Board declared an interim dividend of 4.00 pence per share, paid on 20 April 2011 to shareholders on the register on 1 April 2011.
Former C Shareholders only
| Period ended |
Payment date |
Amount per share |
Cumulative dividends paid per share |
| 30 April 2010 |
13 August 2010 |
1.00p |
6.00p |
A full dividend history is available here.
Portfolio
Please click here to see the investee companies in the fund.
