Octopus Apollo VCT2 plc : Interim Management Statement
October 20 2011 - 10:32AM
UK Regulatory
TIDMOAP2
Octopus Apollo VCT 2 PLC
Interim Management Statement
20 October 2011
In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and
Transparency rules, Octopus Apollo VCT 2 plc ("Apollo 2" or "Fund") presents an
Interim Management Statement for the period 1 August 2011 to 30 September
2011. The statement also includes relevant financial information between the
end of the period and the date of this statement.
Financial Summary
+---------------------------+--------------------------+-----------------------+
| | 8 months to 30 September| 6 months to 31 July|
| | 2011| 2011|
+---------------------------+--------------------------+-----------------------+
| | | |
+---------------------------+--------------------------+-----------------------+
|Net assets ( GBP'000s) | 8,089| 8,083|
+---------------------------+--------------------------+-----------------------+
|Net profit after tax | | |
|( GBP'000s) | 198| 192|
+---------------------------+--------------------------+-----------------------+
|Net asset value per share | | |
|("NAV") | 93.06p| 93.00p|
+---------------------------+--------------------------+-----------------------+
|Cumulative dividends paid | | |
|since launch | 8.75p| 8.75p|
+---------------------------+--------------------------+-----------------------+
|NAV plus cumulative | | |
|dividends paid | 101.81p| 101.75p|
+---------------------------+--------------------------+-----------------------+
Investment performance
At 30 September 2011 the NAV plus cumulative dividends paid of the Fund was
101.81p, which compares to 101.75p at 31 July 2011. The Fund has continued to
perform well as a result of the consistent income stream over and above the
running costs of the Fund, and in absence of any changes in the valuations of
the companies in its portfolio.
During the period under review, a follow-on investment of GBP25,679 was made in
Carebase (Col) Limited, a construction company. This forms a part of the overall
GBP153,908 investment made in this company.
Top Ten Investment Portfolio by Value as at 30 September 2011
+------------------------+------------------+------------------+---------------+
| | | Carrying value| |
|Company | Investment class| GBP'000|% of Net Assets|
+------------------------+------------------+------------------+---------------+
|Salus Services 1 | | | |
|Holdings Limited | Care homes| 1,365| 16.9%|
+------------------------+------------------+------------------+---------------+
|Autologic Diagnostics | | | |
|Holdings Limited | Automotive| 1,137| 14.1%|
+------------------------+------------------+------------------+---------------+
|Clifford Thames Group | | | |
|Limited | Automotive| 1,116| 13.8%|
+------------------------+------------------+------------------+---------------+
|CSL DualCom Limited | Security devices| 1,017| 12.6%|
+------------------------+------------------+------------------+---------------+
|Project Tristar Limited |Chauffeur services| 526| 6.5%|
+------------------------+------------------+------------------+---------------+
|Bruce Dunlop & | | | |
|Associates International| | | |
|Limited | Media| 485| 6.0%|
+------------------------+------------------+------------------+---------------+
|Bluebell Telecom Limited| Telecommunication| 250| 3.1%|
+------------------------+------------------+------------------+---------------+
|Hydrobolt Limited | Manufacturing| 229| 2.8%|
+------------------------+------------------+------------------+---------------+
|Ticketing Services 1 | | | |
|Limited | Ticketing| 200| 2.5%|
+------------------------+------------------+------------------+---------------+
|Ticketing Services 2 | | | |
|Limited | Ticketing| 200| 2.5%|
+------------------------+------------------+------------------+---------------+
|Carebase (Col) Limited | Construction| 154| 1.9%|
+------------------------+------------------+------------------+---------------+
|Kala Power Limited | Solar| 142| 1.8%|
+------------------------+------------------+------------------+---------------+
Dividends
For the period ended 31 July 2011, the Board declared a dividend of 1.50p per
share. This dividend will be paid on 18 November 2011 to those shareholders who
were on the register on 21 October 2011.
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 2011 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
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 Apollo VCT2 plc via Thomson Reuters ONE
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