Octopus Titan VCT 3 PLC : Interim Management Statement

Date : 03/16/2012 @ 10:13AM
Source : UK Regulatory (RNS & others)
Stock : Octopus T. 3 (OTV3)
Quote : 94.0  0.0 (0.00%) @ 1:30AM
Octopus T. 3 share price Chart

Octopus Titan VCT 3 PLC : Interim Management Statement

Octopus Titan VCT 3 plc 
Interim Management Statement 
16 March 2012 
In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and 
Transparency rules, Octopus Titan VCT 3 plc ('Titan 3' or 'VCT') presents an 
Interim Management Statement for the period 1 November 2011 to 31 January 
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 31 January 
                                                    2012 Year to 31 October 2011 
Net assets ( GBP'000s)                               18,702                  18,811 
Return on ordinary activities 
after tax ( GBP'000s)                                 (109)                   (780) 
Net asset value per share 
('NAV')                                            92.4p                   92.9p 
Investment performance 
At 31 January 2012 the NAV of the VCT was 92.4p, which compares to 92.9p at 31 
October 2011. The performance of the VCT has been relatively stable in the 
period under review and there have been no valuation movements in the unquoted 
portfolio. This movement in NAV reflects the standard running costs of the VCT. 
Having reached the level of invested funds required by HMRC, we have shifted our 
focus to monitoring existing portfolio companies, alongside giving them support 
with advice and funding. During the period under review, Titan 3 made four 
follow-on investments into 10CMS ( GBP250,000), Mi-Pay ( GBP179,000), PrismaStar 
( GBP124,000) and Phase Vision ( GBP91,000). 
The total value of the investment portfolio at 31 January 2012 was  GBP15.1 
million. By value, 76.8% of the Company's net assets are in unquoted 
investments, 2.0% in AIM-quoted investments and 18.4% in Octopus OEICS, leaving 
2.8% currently in cash or cash equivalents, together with debtors and creditors. 
Top Ten Qualifying Investment Portfolio by value as at 31 January 2012 
Company                                            Carrying value % of total net 
                   Sector                                    GBP'000         assets 
Nature Delivered   Consumer lifestyle & 
Limited            wellbeing                                1,705           9.1% 
Calastone Limited  Technology                               1,526           8.2% 
True Knowledge 
Limited            Media                                    1,409           7.5% 
Zoopla Limited     Media                                    1,378           7.4% 
Secret Escapes     Consumer lifestyle & 
Limited            wellbeing                                  732           3.9% 
Executive Channel 
Limited            Media                                      701           3.7% 
Certivox Limited   Technology                                 599           3.2% 
Mi Pay Limited     Telecommunications                         589           3.1% 
Touch Type Limited Telecommunications                         549           2.9% 
                   Consumer lifestyle & 
Metrasens Limited  wellbeing                                  509           2.7% 
Material events and transactions 
Titan 3, in conjunction with the other Titan funds, is raising a total of  GBP6.25 
million with a view to allot on 5 April 2012 immediately preceded by a 
publication of the NAV at that date. 
Titan 3's Board is not aware of any other significant event which has occurred 
between 31 January 2012 and the date of publication of this statement which 
would have a material impact on the financial position of the VCT. 
For further information please contact: 
Alex Macpherson- Fund Manager 
Octopus Investments Limited - 0800 316 2349 
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 Titan VCT 3 PLC via Thomson Reuters ONE 

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