TIDMOTV4 
 
Octopus Titan VCT 4 plc 
Interim Management Statement 
 
24 August 2012 
 
In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and 
Transparency rules, Octopus Titan VCT 4 plc ('Titan 4' or 'VCT') presents an 
Interim Management Statement for the period 1 May 2012 to 31 July 2012.  The 
statement also includes relevant financial information between the end of the 
period and the date of this statement. 
 
Financial Summary 
                                             As at 30 April    As at 31 October 
                      As at 31 July 2012               2012                2011 
=------------------------------------------------------------------------------ 
 
 
 Net assets ( GBP'000s)              20,760             20,919              20,086 
 
 Return after tax                  (559)              (400)             (1,085) 
 ( GBP'000s) 
 
 Net asset value per               86.6p              87.2p               89.0p 
 share (NAV) 
 
 
Investment performance 
As at 31 July 2012, the NAV of the VCT was 86.6p, which compares to 87.2p at 30 
April 2012. The performance of the VCT has been relatively stable during the 
period with a small decrease in the NAV. This has arisen as a result of the 
standard running costs of the VCT exceeding the income generated from its cash 
holdings awaiting investment in suitable qualifying companies. Although this 
decrease is to be expected at this stage of maturity, the VCT's NAV will be 
linked increasingly to the value of the investments as the underlying portfolio 
is developed. There have been no valuation movements in the unquoted portfolio 
in the period. 
 
Titan 4 has continued to invest at a steady rate over the last three months. 
Since 30 April 2012, the VCT has made two new investments of  GBP600,000 into 
Certivox and  GBP150,000 into Leanworks.  The VCT also made a  GBP15,625 follow on 
investment into Diverse Energy. Titan 4 has now invested in 19 trading 
businesses. 
 
The total value of the investment portfolio at 31 July 2012 was  GBP8.9 million. By 
value, 42.9% of the VCT's net assets were in unquoted investments, 22.0% in 
Octopus OEICs, leaving 35.1% in cash or cash equivalents together with debtors 
and creditors. 
 
A full update will be provided in the Annual Report for the year ending 31 
October 2012. 
 
Top Ten Qualifying Investments by value as at 31 July 2012 
 Company                                           Carrying value    % of total 
                      Sector                                 GBP'000    net assets 
=------------------------------------------------------------------------------ 
 Certivox Limited     Technology                            1,199          5.8% 
 
 Secret Escapes       Consumer lifestyle & 
 Limited              wellbeing                               732          3.5% 
 
 Executive Channel 
 Limited              Media                                   701          3.4% 
 
 Vega-Chi Limited     Technology                              691          3.3% 
 
 Michelson            Consumer lifestyle & 
 Diagnostics Limited  wellbeing                               650          3.1% 
 
 Evi Technologies     Media 
 Limited (formally                                            648          3.1% 
 True Knowledge) 
 
 TouchType Limited    Telecommunications                      549          2.6% 
 
 Rangespan Limited    Consumer lifestyle & 
                      wellbeing                               500          2.4% 
 
 Artesian Solutions   Technology 
 Limited                                                      500          2.4% 
 
 Aframe Media Group   Media 
 Limited                                                      500          2.4% 
 
 
 
Material events and transactions 
The VCT made a new investment of  GBP750,000 into IOVOX on 21 August 2012 and a 
further follow-on investment of  GBP15,625 into Diverse Energy on 24 August 2012. 
Titan 4's Board is not aware of any other significant event or transaction which 
has occurred between 1 August 2012 and the date of publication of this statement 
which would have a material impact on the financial position of the VCT. 
 
For further information please contact: 
Alex Macpherson - Fund Manager 
Octopus Investments Limited - 0800 316 2295 
 
ENDS 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Octopus Titan VCT 4 PLC via Thomson Reuters ONE 
[HUG#1636192]
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