Octopus Apollo VCT 3 plc : Interim Management S...

Octopus Apollo VCT 3 PLC
Interim Management Statement
                     
1 June 2012

In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and Transparency rules, Octopus Apollo VCT 3 plc ("Apollo 3" or "Fund") presents an Interim Management Statement for the period 1 February 2012 to 30 April 2012.  The statement also includes relevant financial information between the end of the period and the date of this statement.

Financial Summary

	3 months to 30 April 2012	Year to 31 January 2012
Net assets (£'000s)	24,458	24,337
Net profit after tax (£'000s)	121	1,260
Net asset value per share ("NAV")	91.4p	90.9p
Cumulative dividends paid since launch	12.5p	12.5p
NAV plus cumulative dividends paid	103.9p	103.4p

Investment performance
At 30 April 2012 the NAV plus cumulative dividends paid of the Fund was 103.9p, which compares to 103.4p at 31 January 2012. The interest income stream exceeds the running costs of the Fund which in addition to the absence of changes in the valuation of the portfolio companies has driven the performance of the Fund.

In the period under review, there were £1,000,000 investments in Erie Heat Limited, Winnipeg Heat Limited and Sula Power Limited. In addition, £750,000 was invested in Technical Software Consultants Limited.

Top Ten Unquoted Qualifying Investment Portfolio by Value as at 30 April 2012

Company	Investment class	Carrying value £'000	% of Net Assets
Salus Services Holdings 1 Limited	Care homes	4,000	16.4%
CSL DualCom Holdings Limited	Environmental	3,382	13.8%
Clifford Thames Group Limited	Automotive	3,314	13.5%
BlueBell Telecom Services Limited	Telecommunications	2,220	9.1%
Resilient Corporate Services Limited	Solar	1,000	4.1%
Shakti Power Limited	Solar	1,000	4.1%
Erie Heat Limited	Ground source heat	1,000	4.1%
Sula Power Limited	Solar	1,000	4.1%
Winnipeg Heat Limited	Ground source heat	1,000	4.1%
Aashman Power	Solar	950	3.9%

Dividends
For the year to 31 January 2012, the Board declared a dividend of 3.0p per share.  If approved by shareholders at the AGM on 26 July 2012, this dividend will be paid on 9 August 2012 to those shareholders on the register on 13 July 2012.

Material events and transactions
The Fund's Board is not aware of any other significant event or transaction which has occurred between the 1 February 2012 and the date of publication of this statement which would have a material impact on the financial position on the Fund.

For further information please contact:
Stuart Nicol - Fund Manager
Octopus Investments Limited - 0800 316 2347

ENDS

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(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 Apollo VCT 3 plc via Thomson Reuters ONE

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