Octopus Second AIM VCT plc : Interim Management...

Octopus Second AIM VCT plc ("the Company")

21 October 2013

Interim Management Statement
For the period from 1 June 2013 to 14 October 2013

In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and Transparency rules, Octopus Second AIM VCT plc presents an Interim Management Statement for the period 1 June 2013 to 14 October 2013. The statement also includes relevant financial information between the end of the period and the date of this statement.

Financial Summary

	As at 14 October 2013	As at 31 May 2013	As at 30 November 2012
Total net assets (£'000s)	37,204	33,431	28,712
Net asset value per share ("NAV")	79.9p	74.3p	66.3p
Dividends paid in period	-*	1.7p	3.2p

*Dividend of 1.8p per share was paid on 18 October 2013 to shareholders on the register of the Company on 20 September 2013.

Investment performance
In the period under review the Net Asset Value has risen from an unaudited 74.3p to an unaudited 79.9p ex dividend per share as at the close of business on Monday 14 October 2013. Adding back the 1.8p dividend payable to shareholders on the register on 20^th September, the NAV rose by 10.0%, which compares with a fall in the FTSE All Share Index of 0.1%, a rise in the FTSE AIM All Share Index of 7.8% and in the FTSE SmallCap (excluding investment companies) Index of 12.9%.

This NAV performance has been driven by a general appreciation in the value of smaller company holdings helped by some strong trading statements. Notable contributors to the positive performance have been Netcall, Matchtech, GB Group, Tasty, Judges Scientific, Vertu Motors and Staffline.

During the period under review a dividend of 1.8p has been declared, which was paid on 18 October (to those on the register on 20 September).

Investment Activity
The period under review has continued to see a steady flow of new issues and secondary fund raisings.  We have participated in Plus500 and Clean Air Power and in Nektan, which is currently an unquoted company. We have also taken new holdings in EMIS and in Restore.

We have sold a number of holdings, such as Marwyn, Corero and Jelf and accepted the take-over offer for Active Risk.

Ten largest equity holdings as at 14 October 2013:  

Investee Company	Sector	Market value (based on Bid Prices) £'000	Market value as a % of total net assets
Advanced Computer Software Group plc	Software & Computer Services	1,783	4.8%
Animalcare Group plc	Pharmaceuticals & Biotech	1,677	4.5%
Breedon Aggregates Limited	Construction & Materials	1,554	4.2%
IDOX plc	Software & Computer Services	1,395	3.7%
MyCelx Technologies plc	Oil Equipment	1,382	3.7%
EKF Diagnostics Holdings plc	Healthcare Equipment	1,340	3.6%
Tasty plc	Travel & Leisure	1,227	3.3%
Escher Group Holdings plc	Software & Computer Services	1,149	3.1%
WANdisco plc	Software & Computer Services	1,119	3.0%
Matchtech Group plc	Support Services	1,114	3.0%

Buybacks
During the period the Company purchased 419,676 shares at a weighted average price of 71.1p per share for cancellation. Buybacks were performed at approximately a 5% discount to the most recently announced NAV.

Issue of equity
During the period the Company allotted 1,981,268 shares at a weighted average price of 81.8p per share pursuant to the Top-Up Offer dated 1 February 2013.

Material events and transactions
A dividend of 1.8p per share was paid on 18 October 2013 to shareholders on the register of the Company on 20 September 2013. Apart from the dividend, the Company's Board is not aware of any other significant event or transaction which has occurred between 14 October 2013 and the date of publication of this statement which would have a material impact on the financial position of the Company.

For further information please contact:
Kate Tidbury / Andrew Buchanan - Fund Managers
Octopus Investments Limited - 0800 316 2347

ENDS

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Source: Octopus Second AIM VCT plc via Thomson Reuters ONE

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