Octopus VCT Octopus Vct Plc : Interim Management Statement
11 Juli 2014 - 2:43PM
UK Regulatory
TIDMOVCT
Octopus VCT PLC
Interim Management Statement
11 July 2014
In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and
Transparency rules, Octopus VCT plc ("Company") presents an Interim
Management Statement for the period 1 March 2014 to 31 May 2014. The
statement also includes relevant financial information between the end
of the period and the date of this statement.
Financial Summary
3 months to 31 May 2014 Year to 28 February 2014
Net assets (GBP'000) 50,250 50,402
Return on ordinary
activities before tax
(GBP'000) (152) 1,900
Net asset value per share 96.6p 96.9p
('NAV')
Cumulative dividends paid 5.0p 5.0p
NAV plus cumulative 101.6p 101.9p
dividends paid
Performance
At 31 May 2014 the NAV plus cumulative dividends paid of the Company was
101.6p, which compares to 101.9p as at 28 February 2014. The performance
of the Company has been relatively stable in the period under review.
The decrease in the NAV was due to a reduction of GBP282,000 in the fair
value of EKF Diagnostics plc ("EKF"), the Company's only quoted
investment. The Board remains confident about the outlook for EKF.
There have been no changes to any unquoted investment valuations since
the year end.
Investment activity
During the period under review, the GBP2,000,000 loan to Borro was
repaid in full, along with all accrued interest.
Top ten investment portfolio by value as at 31 May 2014
Carrying value
Company Sector GBP'000 % of Net Assets
Clifford Thames Automotive software
Group Limited & data 5,595 11.1%
CSL Dualcom
Holdings Limited Security devices 3,872 7.7%
Healthcare Services
and Technology
Limited Healthcare 2,500 5.0%
Erie Heat Limited Anaerobic digestion 2,000 4.0%
3AM Music Limited Media 1,636 3.3%
GreenCo Services 2
Limited Solar 1,600 3.2%
Donoma Power
Limited Solar 1,471 2.9%
Sula Power Limited Solar 1,224 2.4%
Atlantic Screen
International
Limited Media 1,057 2.1%
Technical Software
Consultants
Limited Engineering 1,015 2.0%
Dividends
As announced in the recently published annual report and accounts,
subject to the approval of shareholders at the Annual General Meeting on
31 July 2014, the final dividend of 1.0p per share for the year ended 28
February 2014 will be paid on 14 August 2014 to those shareholders on
the register on 11 July 2014.
Material events and transactions
The Company's Board is not aware of any other significant event or
transaction which has occurred between 1 June 2014 and the date of
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 2295
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 PLC via Globenewswire
HUG#1822450
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