Interim Management Statement
May 26 2010 - 7:08AM
UK Regulatory
TIDMOPV
Octopus Protected VCT 2 PLC
Interim Management Statement
26 May 2010
In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and
Transparency rules, Octopus Protected VCT 2 plc ("Protected 2" or "Fund")
presents an Interim Management Statement for the period 1 February 2010 to 30
April 2010. The statement also includes relevant financial information between
the end of the period and the date of this statement.
Financial Summary
+--------------------------+-------------------------+-------------------------+
| | Three months to 30 April| Year ended 31 January|
| | 2010| 2010|
+--------------------------+-------------------------+-------------------------+
|Net assets (000s) | GBP10,516| GBP10,591|
+--------------------------+-------------------------+-------------------------+
|Net loss before tax (000s)| GBP(75)| GBP(334)|
+--------------------------+-------------------------+-------------------------+
|Net asset value per share | | |
|("NAV") | 90.3p| 90.9p|
+--------------------------+-------------------------+-------------------------+
Investment performance
At 30 April 2010 the NAV of the Fund was 90.3p, which compares to 90.9p at 31
January 2010. The performance of the Fund has been relatively stable in the
period under review, due to a large proportion of its assets being held in cash
and cash equivalent securities, and investment valuations remaining unchanged at
the period end.
During the period under review, Protected 2 has completed a non-qualifying
investment into Carebase (Col) Limited of GBP270,000, a company involved in the
construction of a care home, and a qualifying investment into Businessco
Services 3 Limited, a company established to seek qualifying investments.
Top Ten Unquoted Qualifying Investment Portfolio by Value as at 30 April 2010
+----------------------+------------------+--------------------+---------------+
|Company | Sector|Carrying value GBP'000|% of Net Assets|
+----------------------+------------------+--------------------+---------------+
|Clifford Thames Group | | | |
|Limited | Automotive| 1,335| 12.7%|
+----------------------+------------------+--------------------+---------------+
|Greenco Services | | | |
|Limited | Environmental| 1,000| 9.5%|
+----------------------+------------------+--------------------+---------------+
|Pubco Services Limited|Restaurants & bars| 1,000| 9.5%|
+----------------------+------------------+--------------------+---------------+
|Vulcan Services II | | | |
|Limited |Oil & gas services| 1,000| 9.5%|
+----------------------+------------------+--------------------+---------------+
|Businessco Services 3 | | | |
|Limited | Business Services| 1,000| 9.5%|
+----------------------+------------------+--------------------+---------------+
|Salus Services 1 | | | |
|Limited | Care homes| 882| 8.4%|
+----------------------+------------------+--------------------+---------------+
|Businessco Services 2 | | | |
|Limited | Business services| 600| 5.7%|
+----------------------+------------------+--------------------+---------------+
|Diagnos Limited | Automotive| 350| 3.3%|
+----------------------+------------------+--------------------+---------------+
|CSL DualCom Limited | Security devices| 250| 2.4%|
+----------------------+------------------+--------------------+---------------+
|Carebase (Col) Limited| Construction| 171| 1.6%|
+----------------------+------------------+--------------------+---------------+
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 2010 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
[HUG#1418867]
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