Octopus Eclipse VCT 4 plc : Interim Management Statement
June 08 2012 - 4:20AM
UK Regulatory
TIDMOEC4
Octopus Eclipse VCT 4 PLC
Interim Management Statement
8 June 2012
In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and
Transparency rules, Octopus Eclipse VCT 4 plc ('Eclipse 4' or 'VCT') 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
6 months to 31 January
9 months to 30 April 2012 2012
=-------------------------------------------------------------------------------
Net assets ( GBP'000s) 12,206 13,308
Return on ordinary
activities after tax
( GBP'000s) (1,603) (1,644)
Net asset value per share
('NAV') 47.3p 51.1p
Cumulative dividends paid
since launch 17.7p 13.7p
Total return (NAV plus
dividends paid) 65.0p 64.8p
Investment performance
At 30 April 2012 the net asset value (NAV) of the VCT was 47.3p, which compares
to 51.1p at 31 January 2012 and when adding back 4.0 pence of dividends paid
this shows an increase in the total return (NAV plus cumulative dividends paid)
of 0.3%. This increase in fair value is largely attributable to improved
performance in the AIM portfolio.
In the unquoted portfolio, we have continued to focus on monitoring and
supporting the existing portfolio companies. During the period under review, a
further small investment has been made in Brandspace.
There has been an encouraging increase in fair value of GBP110k in the AIM
portfolio since 31 January 2012. This is largely due to Plastics Capital which
has seen an uplift of GBP95k. We remain confident that the AIM companies in the
portfolio continue to be valued on very low ratings and expect further share
price appreciation during 2012.
The total value of the investment portfolio at 30 April 2012 was GBP9.3 million.
By value, 69.5% of the Company's net assets are in unquoted investments, 7.4% in
AIM-quoted investments and 23.1% of the Company's net assets are currently in
cash or cash equivalents.
Top Ten Qualifying Investments by value as at 30 April 2012
Carrying value % of total
Company Sector GBP'000 net assets
=-------------------------------------------------------------------------------
Hydrobolt Limited Engineering and Machinery 2,329 19.1%
History Press Limited Publishing 1,683 13.8%
Tristar Worldwide
Limited Transport Services 1,523 12.5%
Audio Visual Machines Technology &
Limited Telecommunications 1,335 11.0%
Brandspace Limited Media & Marketing Services 509 4.2%
Plastics Capital Engineering and Machinery 430 3.5%
Dualcom Holdings Technology &
Limited Telecommunications 313 2.6%
Bruce Dunlop &
Associates Limited Media & Marketing Services 303 2.5%
Convivial London Pubs
plc Leisure & Hotels 177 1.5%
Artesian Solutions Technology &
Limited Telecommunications 150 1.2%
Dividends
As announced in the recently published half-yearly results, the interim dividend
of 4.0p per share for the half-year ended 31 January 2012 was paid on the 10 May
2012 to those shareholders on the register on 10 April 2012.
Material events and transactions
Eclipse 4's Board is not aware of any other significant event or transaction
which has occurred between 30 April 2012 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 2295
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 Eclipse VCT 4 plc via Thomson Reuters ONE
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