Octopus Titan VCT 5 Octopus Titan Vct 5 Plc : Interim Management Statement


 
TIDMOTV5 
 
   Octopus Titan VCT 5 plc 
 
   Interim Management Statement 
 
   3 September 2014 
 
   In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and 
Transparency rules, Octopus Titan VCT 5 plc ('Titan 5' or 'VCT') 
presents an Interim Management Statement for the period 1 May 2014 to 31 
July 2014.  The statement also includes relevant financial information 
between the end of the period and the date of this statement. 
 
   Financial Summary 
 
 
 
 
                    9 month period to     6 months to 30    Year to 31 October 
                       31 July 2014         April 2014             2013 
 
Net assets 
 (GBP'000s)                     28,669              28,507              17,697 
Return after tax 
 (GBP'000s)                      (796)               1,347                (13) 
Net asset value                  91.8p               93.5p               88.5p 
 per share 
 ('NAV') 
 
   Investment performance 
 
   As at 31 July 2014 the NAV of the VCT was 91.8p, which compares to 93.5p 
at 30 April 2014. The decrease in NAV is largely due to a reduction in 
fair value of the Open Ended Investment Companies ('OEICs') and the 
standard running costs of the VCT. There has been no material change in 
the valuation of the unquoted portfolio. 
 
   During the period under review, the VCT made four follow-on investments 
with a combined cost of GBP1,438,000 into Sourceable (Swoon Editions), 
The Faction Collective, Zynstra, and Aframe Media Group. In addition, 
five new investments with a combined cost of GBP764,000 were made into 
Origami Energy, Hubbub Deliveries, Seedcamp III LP, Elliptic Enterprise, 
and Smartkem. Rangespan was fully disposed, at circa carrying value. 
 
   Top 10 Investments by value as at 31 July 2014 
 
 
 
 
                                                                           % of 
                                                                          total 
                                                                           net 
Company            Sector                    Carrying value GBP'000       assets 
Conversocial 
 Limited           Technology                                      1,284    4.5% 
Artesian 
 Solutions 
 Limited           Technology                                      1,242    4.3% 
The Faction        Consumer lifestyle 
 Collective SA      and well being                                 1,196    4.2% 
Aframe Media 
 Group Limited     Media                                           1,078    3.8% 
Amplience Limited  Technology                                        999    3.5% 
Sourceable (Swoon  Consumer lifestyle 
 Editions)          and well being                                   998    3.5% 
Zynstra Limited    Technology                                        889    3.1% 
Leanworks Limited  Consumer lifestyle 
 (Yplan)            and well being                                   889    3.1% 
Secret Escapes     Consumer lifestyle 
 Limited            and well being                                   742    2.6% 
Iovox Limited      Telecommunications                                695    2.4% 
 
   Allotments 
 
   On 17 June 2014, the company allotted 764,443 shares at a price of 99.0p 
per share. 
 
   Material events and transactions 
 
   Since 31 July 2014, Titan 5 has made three follow-on investments and one 
new investment, for a combined cost of GBP2,126,000. 
 
   As announced on 25 June 2014, the Boards of Titan 5, Octopus Titan VCT 1 
plc, Octopus Titan VCT 2 plc, Octopus Titan VCT 3 plc and Octopus Titan 
VCT 4 plc (the "Companies") entered into discussions regarding a 
possible merger of the Companies (the "Merger"). This has subsequently 
been approved in principle by the Boards. Documentation to effect the 
Merger is in the process of being drafted and approved by the relevant 
authorities. It is anticipated that shareholders will receive the 
circular in due course, explaining the Merger and including the Notice 
convening a General Meeting for shareholders to vote on the resolutions 
required to implement the Offer and the Merger. It is also the intention 
to launch an Offer for subscription to raise up to GBP50 million with an 
overallotment facility of a further GBP20 million (the "Offer"). 
 
   Titan 5's Board is not aware of any other significant event which has 
occurred between 31 July 2014 and the date of publication of this 
statement which would have a material impact on the financial position 
of the VCT. 
 
   For further information please contact: 
 
   Alex Macpherson - Fund Manager 
 
   Octopus Investments Limited - 0800 316 2349 
 
   ENDS 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Octopus Titan VCT 5 PLC via Globenewswire 
 
   HUG#1853458 
 
 
  http://www.octopusinvestments.com
Octopus Titan 5 (LSE:OTV5)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024