Interim Management Statement
February 11 2011 - 9:34AM
UK Regulatory
TIDMOTV4
Octopus Titan VCT 4 plc
Interim Management Statement
11 February 2011
In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and
Transparency rules, Octopus Titan VCT 4 plc ('Titan 4' or 'VCT') presents an
Interim Management Statement for the period 1 November 2010 to 31 January
2011. The statement also includes relevant financial information between the
end of the period and the date of this statement.
Financial Summary
As at 31 January 2011 As at 31 October 2010
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Net assets ( GBP'000s) 21,205 21,171
Return on ordinary activities before
tax ( GBP'000s) 34 (187)
Net asset value per share ('NAV') 93.9p 93.8p
Investment performance
As at 31 January 2011 the NAV of the VCT was 93.9p, which compares to 93.8p at
30 October 2010. Titan 4's investments in the Open Ended Investment Companies
('OEICs') have seen an overall uplift in value of 3.5% over the 3 months to 31
January 2011 which has contributed to an increase in the net asset value of
1.1p. This has been offset by the VCT's standard running costs in the period
exceeding income generated from its cash holdings awaiting investment in
suitable qualifying companies. Over the longer term, as the underlying portfolio
of investments is created, the VCT's NAV will be linked increasingly to the
value of the investments in the portfolio.
Titan 4 has continued to see a good deal flow over the last three months. Since
31 October 2010, the VCT has invested GBP367,000 into Diverse Energy, a company
focusing on the infrastructure of energy for global telecommunications, GBP450,000
into Curlet (UK) Limited (trading as 10CMS), an interactive merchandising
platform and GBP500,000 into Vega-Chi Limited, an electronic multilateral trading
facility. This has brought the total portfolio to 10 current trading businesses.
A full update is provided in the Annual Report for the year ending 31 October
2010.
The total value of the investment portfolio at 31 January 2011 was GBP21.2
million. By value, 14.9% of the Company's net assets were in unquoted
investments, 28.4% in Octopus OEICs, leaving 56.7% in cash or cash equivalents.
Qualifying Investment Portfolio as at 31 January 2011
Company Carrying value % of total net
Sector GBP'000 assets
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Vega-Chi Limited Technology 500 2.4%
Curlet (UK) Limited Media 450 2.1%
Diverse Energy
Limited Environmental 367 1.7%
UltraSoc Technologies
Limited Technology 361 1.7%
Elonics Limited Technology 305 1.4%
PrismaStar Inc. Media 300 1.4%
Executive Channel
Limited Media 300 1.4%
Bowman Power Limited Environmental 275 1.3%
Michelson Diagnostics Consumer lifestyle &
Limited wellbeing 248 1.2%
Touch Type Limited Telecommunications 53 0.3%
Material events and transactions
Titan 4's Board is not aware of any other significant event or transaction which
has occurred between 31 January 2011 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 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 Titan VCT 4 PLC via Thomson Reuters ONE
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