Octopus AIM VCT PLC : Interim Management Statement

Octopus AIM VCT plc
Interim Management Statement

1 July 2013

In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and Transparency rules, Octopus AIM VCT plc ("Company" or "Fund") presents an Interim Management Statement for the period 1 March 2013 to 24 June 2013. The statement also includes relevant financial information between the end of the period and the date of this statement.

Financial Summary

	24 June 2013	28 February 2013
Net assets (£000)	49,778	44,123
Net asset value per share ("NAV")	98.6p	93.7p
Dividends paid  or proposed in the period	2.5p	5.0p

Investment Performance
The period has seen a rise in the Net Asset Value (NAV) driven substantially by good trading results from many holdings in the portfolio being recognised to some degree in their share prices. It has also been helped by a good start to share trading amongst the new holdings. The NAV rose from the 93.7p as at 28 February to 98.6p XD as at 24 June 2013.  Adding back the proposed dividend of 2.5p means that the NAV rose by 7.9% in the period which compares with a 7.5% fall in the AIM All Share Index and a 3.0% rise in the Small Cap Index Ex Investment Trusts.

Investment Activity
Since the financial year end, two holdings, Daisy and Augean, have been sold in their entirety and three new qualifying holdings have been added.  These were Cambridge Cognition Holdings, Quixant and the portfolio's first qualifying unquoted company, Nektan.  We have continued to be selective in making new investments and there are still many companies seeking additional capital.

Investment Portfolio - Ten Largest Holdings by Value as at 24 June 2013

Company	Sector	Carrying value £'000	% of net assets
Advanced Computer Software Group plc	Software & Computer Services	2,741	5.5%
Brooks MacDonald Group plc	General Financial	2,208	4.4%
MyCelx Technologies Corporation	Oil Equipment	2,196	4.4%
Breedon Aggregates Limited	Construction & Materials	1,972	4.0%
Idox plc	Software & Computer Services	1,760	3.5%
Staffline Recruitment Group plc	Support Services	1,542	3.1%
EKF Diagnostics Holdings plc	Healthcare Equipment	1,440	2.9%
WANdisco plc	Software & Computer Services	1,347	2.7%
Escher Group Holdings plc	Software & Computer Services	1,308	2.6%
Quixant plc	Technology Hardware	1,295	2.6%

Dividends
The Company announced a final dividend of 2.5p. Subject to approval at the AGM it will be paid on 25 July 2013 to shareholders on the register on 21 June 2013.

Buybacks
During the period 1 March 2013 to 24 June 2013, the Company purchased 607,792 ordinary shares at a weighted average price of 91.4p per share.

Issue of shares
During the period 1 March 2013 to 24 June 2013, the Company issued 4,413,848 ordinary shares at a weighted average price of 101.7p per share.

Total Voting Rights
The Company's capital as at 24 June 2013 consisted of 50,477,392 ordinary shares with a nominal value of 1p each, with voting rights. The Company does not hold any ordinary shares in Treasury. Therefore, the total number of voting rights in the Company as at 17 December 2012 was 50,477,392. 

Material events and transactions
The Board is not aware of any other significant event or transaction which has occurred between 1 March 2013 and the date of publication of this statement which would have a material impact on the financial position of the Company.

For further information please contact:
Andrew Buchanan and Kate Tidbury - Fund Managers
Octopus Investments Limited - 0800 316 2295
ENDS

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information contained therein.

Source: Octopus AIM VCT PLC via Thomson Reuters ONE

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