Octopus Apollo VCT PLC
Interim Management Statement
9 November 2012
In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and Transparency rules, Octopus Apollo VCT plc ("Apollo " or "Fund") presents an Interim Management Statement for the period 1 August 2012 to 31 October 2012. The statement also includes relevant financial information between the end of the period and the date of this statement.
Financial Summary
Nine months to 31 October 2012 | Six months to 31 July 2012 | |
Net assets (£'000s) | 46,808 | 22,794 |
Net profit after tax (£'000s) | 592 | 592 |
Net asset value per share ("NAV") | 89.7p | 91.0p |
Cumulative dividends paid since launch | 17.5p | 15.5p |
NAV plus cumulative dividends paid | 107.2p | 106.5p |
Investment performance
At 31 October 2012 the NAV plus cumulative dividends paid of the Fund was 107.2p, which compares to 106.5p as at 31 July 2012. The Fund has continued to perform well as a result of the consistent income stream over and above the running costs of the Fund.
On 27 September 2012, Octopus Apollo VCT 3 plc merged with Apollo VCT 1, Apollo VCT 2 and Apollo VCT 4. On the same date the merged fund was renamed Octopus Apollo VCT plc. As a result of this merger the net assets of the Fund has increased from 22,794 as at 31 July 2012 to 46,808 as at 31 October 2012.
Top Ten Investment Portfolio by Value as at 31 October 2012
Company | Investment class | Carrying value £'000 | % of Net Assets |
Clifford Thames Group Limited | Automotive | 7,768 | 16.6% |
CSL DualCom Limited | Security devices | 6,911 | 14.8% |
Borro Loan 2 Limited | Consumer finance | 3,500 | 7.5% |
Bluebell Telecom Services Limited | Telecommunications | 3,325 | 7.1% |
Resilient Corporate Services Limited | Business services | 2,000 | 4.3% |
Winnipeg Heat Limited | Ground-source heat | 2,000 | 4.3% |
Mablaw 555 Limited | Crack detection systems | 2,000 | 4.3% |
Shakti Power Limited | Solar | 1,825 | 3.9% |
Hydrobolt Limited | Manufacturing | 1,389 | 3.0% |
Erie Heat Limited | Ground-source heat | 1,000 | 2.1% |
Dividends
For the half year to 31 July 2012, the Board declared a dividend of 2.0p per share. This dividend will be paid on 16 November 2012 to those shareholders who were on the register on 19 October 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 August 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:
Benjamin Davis - Fund Manager
Octopus Investments Limited - 0800 316 2347
ENDS