Octopus Titan VCT 4 Octopus Titan Vct 4 Plc : Interim Management Statement
February 28 2014 - 4:45AM
UK Regulatory
TIDMOTV4
Octopus Titan VCT 4 plc
Interim Management Statement
28 February 2014
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 November 2013
to 31 January 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 January
2014 Year to 31 October 2013
Net assets (GBP'000s) 32,229 29,231
Return on ordinary
activities after tax
(GBP'000s) (22) 3,935
Net asset value per share 100.5p 100.7p
('NAV')
Cumulative dividends paid 1.0p 1.0p
since launch
Total return (NAV plus 101.5p 101.7p
dividends paid)
Investment performance
As at 31 January 2014 the Total Return of the VCT was 101.5p, which
compares to 101.7p at 31 October 2013. The small decrease in the NAV is
due to the standard running costs of the Fund exceeding the GBP257,000
increase in value of Titan 4's investments in the Open Ended Investment
Companies ('OEICs') over the period to 31 January 2014. There have been
no changes in the valuation of the unquoted portfolio during the period.
The portfolio's strategy continues to be one of managing the portfolio
and investing further into those companies where there is potential for
capital growth. Your Investment Manager is also seeing a number of new
opportunities. During the period under review, the VCT made eight
follow-on investments with a total value of GBP2,321,000 and three new
investments with a combined value of GBP450,000.
Top Ten Qualifying Investment Portfolio as at 31 January 2014
Carrying value % of total net
Company Sector GBP'000 assets
Secret Escapes Consumer lifestyle
Limited & wellbeing 9,180 28.5%
TouchType Limited Telecommunications 2,233 6.9%
UltraSoC
Technologies
Limited Technology 1,364 4.2%
Certivox Limited Technology 1,234 3.8%
Artesian Solutions
Limited Technology 1,229 3.8%
Amplience Limited Technology 1,159 3.6%
Aframe Media Group
Limited Media 1,077 3.3%
Leanworks Limited Consumer lifestyle
(YPlan) & wellbeing 1,066 3.3%
Vega-Chi Limited Technology 962 3.0%
Iovox Limited Telecommunications 896 2.8%
Dividends
As announced in the recently published annual results, the proposed
final dividend of 2.0p per share for the year ended 31 October 2013 will
be paid on 4 April 2014 to those shareholders on the register on 7 March
2014 subject to approval at the AGM.
Linked Fund Raise
Titan 4, in conjunction with the other Titan funds, is seeking to raise
a total of GBP35 million, with an over-allotment facility of GBP15
million. The amount raised will be allotted equally between the five
Titan Funds. The following allotments have taken place:
-- On 12 December 2013 3,019,393 shares were allotted at a price of 106.6p
per share.
-- On 14 February 2014 1,026,897 shares were allotted at a price of 106.4p
per share.
Material events and transactions
Since 31 January 2014, Titan 4 made one new investment of GBP300,000 in
Adbrain Limited.
Titan 4's Board is not aware of any other significant event which has
occurred between 31 January 2014 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 2349
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 Titan VCT 4 PLC via Globenewswire
HUG#1765520
http://www.octopusinvestments.com
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