OVC2 Octopus Vct 2

 
TIDMOVC2 
 
   Octopus VCT 2 PLC 
 
   Interim Management Statement 
 
   2 December 2013 
 
   In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and 
Transparency rules, Octopus VCT 2 plc ("Company") presents an Interim 
Management Statement for the period 1 July 2013 to 31 October 2013. The 
statement also includes relevant financial information between the end 
of the period and the date of this statement. 
 
   Financial Summary 
 
 
 
 
                     10 months to 31      6 months to 30        Year to 31 
                       October 2013         June 2013         December 2012 
Net assets 
 (GBP'000s)                     18,042              18,046              18,180 
(Loss)/profit on 
 ordinary 
 activities before 
 tax (GBP'000s)                   (71)               (134)                 132 
Net asset value                  93.9p               93.5p               94.2p 
 per share 
 ('NAV') 
 
   Performance 
 
   As at 31 October 2013 the NAV of the Company was 93.9p, compared with 
93.5p as at 30 June 2013. Despite a loss of GBP167,500 on the disposal 
of Game Management and Development Limited, the NAV increased slightly 
due to income exceeding the standard running costs of the Company. 
 
   There have been no changes to any unquoted investment valuations, with 
the entire portfolio currently valued at cost. 
 
   Investment activity 
 
   A capital loan repayment of GBP34,000 was received from Shakti Power 
Limited on 8 July 2013. On 31 July 2013 Game Development and Management 
Limited was disposed of for proceeds of GBP832,500 resulting in a loss 
of GBP167,500. 
 
   No other investments have been made or realised during the period and a 
total of GBP16.4 million remains invested in unquoted investments. 
 
   Top ten investment portfolio by value as at 31 October 2013 
 
 
 
 
                                            Carrying value 
Company                           Sector        GBP'000        % of Net Assets 
Helaku Power 
 Limited                           Solar                1,460             8.1% 
5AM Music Limited                  Media                1,000             5.5% 
Borro Loan 2 
 Limited                Consumer finance                1,000             5.5% 
Caspian Heat 
 Limited              Ground source heat                1,000             5.5% 
Sula Power Limited                 Solar                1,000             5.5% 
Superior Heat 
 Limited              Ground source heat                1,000             5.5% 
Howbery Solar 
 Limited                           Solar                  600             3.3% 
Acquire Your 
 Business Limited      Business services                  578             3.2% 
Aashman Power 
 Limited                           Solar                  500             2.8% 
Cyrah Power Limited                Solar                  500             2.8% 
 
 
   There are 14 other companies in the portfolio valued at GBP500,000. 
 
   Material events and transactions 
 
   The Board is not aware of any other significant event or transaction 
which has occurred between 1 November 2013 and the date of the 
publication of this statement which would have a material impact on the 
financial position on the Company. 
 
   For further information please contact: 
 
   Benjamin Davis - Fund Manager 
 
   Octopus Investments Limited - 0800 316 2347 
 
   ENDS 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Octopus VCT 2 PLC via Globenewswire 
 
   HUG#1746950 
 
 
  http://www.octopusinvestments.com/ 
 

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