Octopus Apollo VCT plc : Interim Management Sta...

Octopus Apollo VCT PLC
Interim Management Statement
                     
20 June 2013

In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and Transparency rules, Octopus Apollo VCT plc ("Apollo" or "Fund") presents an Interim Management Statement for the period 1 February 2013 to 31 May 2013.  The statement also includes relevant financial information between the end of the period and the date of this statement.

Financial Summary

	Four months to 31 May 2013	Year to 31 January 2013
Net assets (£'000s)	61,142	47,774
Net profit after tax (£'000s)	194	223
Net asset value per share ("NAV")	87.2p	89.3p
Cumulative dividends paid since launch	20.0p	17.5p
NAV plus cumulative dividends paid	107.2p	106.8p

Investment performance
At 31 May 2013 the NAV plus cumulative dividends paid of the Fund was 107.2p, which compares to 106.8p as at 31 January 2013. Following new funds raised as a result of the current open top up offer, the Fund has continued to perform well as a result of the consistent income stream over and above the running costs of the Fund.

Top Ten Investment Portfolio by Value as at 31 May 2013

Company	Investment class	Carrying value £'000	% of Net Assets
Clifford Thames Group Limited	Automotive	7,699	12.6%
CSL DualCom Limited	Security devices	6,911	11.3%
Borro Loan 2 Limited	Consumer finance	3,500	5.7%
Bluebell Telecom Services Limited	Telecommunications	3,325	5.4%
Resilient Corporate Services Limited	Solar	2,000	3.3%
Winnipeg Heat Limited	Ground-source heat	2,000	3.3%
Mablaw 555 Limited	Engineering	2,000	3.3%
Shakti Power Limited	Solar	1,825	3.0%
Hydrobolt Limited	Manufacturing	1,522	2.5%
Healthcare Services and Technology Limited	Healthcare Technology	1,500	2.5%

Dividends
For the year to 31 January 2013, the Board declared a dividend of 2.5p per share.  This dividend was paid on 20 June 2013 to those shareholders who were on the register on 24 May 2013.

Shares issues and bought back
The following shares were allotted in the period:

Date	Number of shares	Price per share
15 February 2013	18,043,313	94.5p
20 March 2013	4,855,005	94.5p
3 April 2013	7,758,249	94.5p
5 April 2013	5,012,898	94.5p
30 April 2013	961,319	94.0p
3 June 2013	1,490,277	91.4p

The following shares were bought back for cancellation in the period:

Date	Number of shares	Price per share
15 February 2013	18,868,091	89.7p
29 April 2013	150,000	84.8p
3 May 2013	788,540	84.8p
28 May 2013	184,200	82.3p

Material events and transactions
On 10 June 2013, the Fund invested £14,000,000 of the new funds raised via the top up offer in Terido LLP, a non qualifying investment with a mandate in line with the investment mandate of this Fund. Terido LLP aims to generate a return of 3.5% per annum payable to this Fund.

Aside from the aforementioned investment in Terido LLP, the Fund's Board is not aware of any other significant event or transaction which has occurred between the 1 February 2013 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:
Benjamin Davis - Fund Manager
Octopus Investments Limited - 0800 316 2347

ENDS

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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 VCT plc via Thomson Reuters ONE

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