Octopus Apollo VCT plc : Portfolio update

OCTOPUS APOLLO VCT PLC ('Apollo')

 

23 February 2017

 

Portfolio update

 

Following the merger of Octopus Eclipse VCT PLC ("Eclipse") and Apollo on 19 December 2016, Apollo announces that the top 10 Investee companies by book cost at that date were:

Top 10 Investee Companies	Book cost as at 19 December 2016 £000s
1. Clifford Thames Group Limited	13,318
2. Healthcare and Services Technology Limited	7,186
3. Vista Retail Support Limited	6,758
4. Anglo European Group Limited	5,000
5. Coupra Limited	5,000
6. Dyscova Limited	4,700
7. Tanganyika Heat Limited	4,108
8. Winnipeg Heat Limited	3,719
9. Aquaso Limited	3,500
10. Countrywide Healthcare Supplies Limited	2,675
Total of Top 10	55,964
Other 52	49,215
Grand Total	105,179

The top 10 investments excludes two Investment Companies (total combined book cost of £10 million included in Grand Total). Please note that at the date of the merger, 30 companies were transferred from Eclipse to Apollo, bringing the total number of holdings in Apollo to 62 (including Investment Companies).

Across the combined portfolio, 17 Investee companies were valued above the investment cost at the date of the merger. A further 20 were valued below the investment cost. The remaining 25 Investee companies were held at the investment cost.

From 31 July 2016 to the merger on 19 December 2016, there was a net cash outflow from Apollo of £12 million, leaving a balance of approximately £24 million at the date of the merger (19 December 2016). The inflows and outflows during the period were:

	£million	£million
Cash balance as at 31 July 2016		36.0
Inflows
Disposals	14.4
Liquidation of Investment Companies	15.0
Funds raised	6.1
Loan interest	1.0	36.5
Outflows
Dividends	(33.0)
Dividends to D Ordinary shareholders following the merger of the share class	(14.0)
Management & admin expenses	(0.8)
Buybacks	(0.7)	(48.5)
Cash balance as at 19 December 2016		24.0

For further information please contact:

Nicola Board

Company Secretary

020 7776 8663

 

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Source: Octopus Apollo VCT plc via Globenewswire