OVCT Octopus Vct

 
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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