Octopus Apollo VCT2 plc : Interim Management Statement
June 01 2012 - 6:07AM
UK Regulatory
TIDMOAP2
Octopus Apollo VCT 2 PLC
Interim Management Statement
1 June 2012
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 February 2012 to 30 April 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 30 April| |
| | 2012|Year to 31 January 2012|
+-----------------------------+------------------------+-----------------------+
| | | |
+-----------------------------+------------------------+-----------------------+
|Net assets ( GBP'000s) | 8,122| 8,104|
+-----------------------------+------------------------+-----------------------+
|Net profit after tax ( GBP'000s)| 18| 453|
+-----------------------------+------------------------+-----------------------+
|Net asset value per share | | |
|("NAV") | 94.9| 94.7|
+-----------------------------+------------------------+-----------------------+
|Cumulative dividends paid | | |
|since launch | 10.25| 10.25|
+-----------------------------+------------------------+-----------------------+
|NAV plus cumulative dividends| | |
|paid | 105.15| 104.95|
+-----------------------------+------------------------+-----------------------+
Investment performance
At 30 April 2012 the NAV plus cumulative dividends paid of the Fund was
105.15p, which compares to 104.95p at 31 January 2012. The Fund's performance is
as a result of interest income exceeding the running costs of the Fund and due
to the absence of any changes in the valuation of the companies in the
portfolio.
During the period under review, a further loan note investment of GBP500,000 was
made in Borro Loan 2 Limited. In addition to this, there were GBP500,000
investments in Tanganyika Heat Limited and Winnipeg Heat Limited and a GBP250,000
investment in Technical Software Consultants Limited.
Top Ten Unquoted Qualifying Investment Portfolio by Value as at 30 April 2012
+-----------------------+------------------+-------------------+---------------+
| | | Carrying value| |
|Company | Investment class| GBP'000|% of Net Assets|
+-----------------------+------------------+-------------------+---------------+
|Salus Services 1 | | | |
|Holdings Limited | Care homes| 1,365| 16.8%|
+-----------------------+------------------+-------------------+---------------+
|Clifford Thames Group | | | |
|Limited | Automotive| 1,116| 13.7%|
+-----------------------+------------------+-------------------+---------------+
|CSL DualCom Limited | Security devices| 1,042| 12.8%|
+-----------------------+------------------+-------------------+---------------+
|Borro Loan 2 Limited | Pawn brokers| 900| 11.1%|
+-----------------------+------------------+-------------------+---------------+
|Tanganyika Heat Limited|Ground-source heat| 500| 6.2%|
+-----------------------+------------------+-------------------+---------------+
|Winnipeg Heat Limited |Ground-source heat| 500| 6.2%|
+-----------------------+------------------+-------------------+---------------+
|Shakti Power Limited | Solar| 413| 5.1%|
+-----------------------+------------------+-------------------+---------------+
|Technical Software | | | |
|Consultants Limited | Crack detection| 250| 3.1%|
+-----------------------+------------------+-------------------+---------------+
|Bluebell Telecom | | | |
|Services Limited |Telecommunications| 250| 3.1%|
+-----------------------+------------------+-------------------+---------------+
|Hydrobolt Limited | Manufacturing| 244| 3.0%|
+-----------------------+------------------+-------------------+---------------+
Dividends
For the year to 31 January 2012, the Board declared a dividend of 3.0p per
share. This dividend will be paid, if approved by shareholders at the AGM, on
26 July 2012 to those shareholders who are on the register on 29 June 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 May 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:
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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