Information  X 
Enter a valid email address

Octopus VCT 2 PLC (OVC2)


Friday 09 November, 2012

Octopus VCT 2 PLC

Octopus VCT 2 PLC : Interim Management Statement

Octopus VCT 2 PLC : Interim Management Statement

Octopus VCT 2 PLC
Interim Management Statement

 9 November 2012

In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and Transparency rules, Octopus VCT 2 plc ("Fund" or "Company") presents an Interim Management Statement for the period 1 July 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

   Ten months to 31 October 2012Six months ended 30 June 2012
Net assets (000s) 18,152 18,097
Net profit before tax (000s) 104 49
Net asset value per share ('NAV') 94.1p 93.8p

The NAV of the Fund has increased from 93.8p as at 30 June 2012 to 94.1 as at 31 October 2012. This appreciation in the NAV and performance is due to income generated by the Fund now exceeding the running costs.

There have been no changes to any unquoted investment valuations, with the entire portfolio currently valued at cost.

Investment activity
During the period under review, £584,000 was returned to Octopus VCT 2 plc as capital repayments against the loans made to two solar companies, Helaku Power Limited and Shakti Power Limited.

Top Ten Investment portfolio by value as at 31 October 2012

CompanyInvestment classCarrying value £'000% of Net Assets
Helaku Power Limited Solar 1,460 8.0%
Sula Power Limited Solar 1,000 5.5%
Borro Loan 2 Limited Consumer finance 1,000 5.5%
Caspian Heat Limited Ground-source heat 1,000 5.5%
Superior Heat Limited Ground-source heat 1,000 5.5%
5AM Music Limited Media 1,000 5.5%
Game Development and Management Limited Media 1,000 5.5%
Howbery Solar Limited Solar 600 3.3%
Acquire Your Business Limited Business services 578 3.2%
Aashman Power Limited Solar 500 2.8%

Material events and transactions
The Fund's Board is not aware of any other significant event or transaction which has occurred between the 1 November 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


This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(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 VCT 2 PLC via Thomson Reuters ONE


a d v e r t i s e m e n t