Interim Management Statement

 
TIDMOAP1 
 
Octopus Apollo VCT 1 PLC 
Interim Management Statement 
 
27 May 2011 
 
In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and 
Transparency rules, Octopus Apollo VCT 1 plc ("Apollo 1" or "Fund") presents an 
Interim Management Statement for the period 1 February 2011 to 30 April 2011. 
The statement also includes relevant financial information between the end of 
the period and the date of this statement. 
 
Financial Summary 
 
+-----------------------------+------------------------+-----------------------+ 
|                             |    3 months to 30 April|                       | 
|                             |                    2011|Year to 31 January 2011| 
+-----------------------------+------------------------+-----------------------+ 
|                             |                        |                       | 
+-----------------------------+------------------------+-----------------------+ 
|Net assets ( GBP'000s)          |                   8,015|                  8,020| 
+-----------------------------+------------------------+-----------------------+ 
|Net profit after tax ( GBP'000s)|                     (5)|                    202| 
+-----------------------------+------------------------+-----------------------+ 
|Net asset value per share    |                        |                       | 
|("NAV")                      |                  92.20p|                 92.30p| 
+-----------------------------+------------------------+-----------------------+ 
|Cumulative dividends paid    |                        |                       | 
|since launch                 |                   7.25p|                  7.25p| 
+-----------------------------+------------------------+-----------------------+ 
|NAV plus cumulative dividends|                        |                       | 
|paid                         |                  99.45p|                 99.55p| 
+-----------------------------+------------------------+-----------------------+ 
 
Investment performance 
At 30 April 2011 the NAV plus cumulative dividends paid of the Fund was 99.45p, 
which  compares to  99.55p at 31 January  2011. The performance  of the Fund has 
been  relatively stable in the period under review due to income and expenditure 
achieving  near parity, and because there have been no changes in the valuations 
of the companies in its portfolio. 
 
In the period under review,  GBP141,784 has been invested in Kala Power Limited and 
 GBP124,520 in Evaki Power Limited, both are solar power companies. 
 
Top Ten Unquoted Qualifying Investment Portfolio by Value as at 30 April 2011 
+------------------------+------------------+------------------+---------------+ 
|                        |                  |    Carrying value|               | 
|Company                 |  Investment class|              GBP'000|% of Net Assets| 
+------------------------+------------------+------------------+---------------+ 
|Clifford Thames Group   |                  |                  |               | 
|Limited                 |        Automotive|             1,116|          13.9%| 
+------------------------+------------------+------------------+---------------+ 
|CSL DualCom Limited     |  Security devices|             1,017|          12.7%| 
+------------------------+------------------+------------------+---------------+ 
|Diagnos Limited         |        Automotive|               825|          10.3%| 
+------------------------+------------------+------------------+---------------+ 
|Salus Services 1        |                  |                  |               | 
|Holdings Limited        |        Care homes|               750|           9.4%| 
+------------------------+------------------+------------------+---------------+ 
|Salus Services 1 Limited|        Care homes|               615|           7.7%| 
+------------------------+------------------+------------------+---------------+ 
|Tristar Limited         |Chauffeur services|               500|           6.2%| 
+------------------------+------------------+------------------+---------------+ 
|Bruce Dunlop &          |                  |                  |               | 
|Associates International|                  |                  |               | 
|Limited                 |             Media|               484|           6.0%| 
+------------------------+------------------+------------------+---------------+ 
|Bluebell Telecom Limited| Telecommunication|               250|           3.1%| 
+------------------------+------------------+------------------+---------------+ 
|Hydrobolt Limited       |     Manufacturing|               197|           2.5%| 
+------------------------+------------------+------------------+---------------+ 
|BusinessCo Services 2   |                  |                  |               | 
|Limited                 | Business services|               200|           2.5%| 
+------------------------+------------------+------------------+---------------+ 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends 
For the year to 31 January 2011, the Board declared a dividend of 1.50p per 
share.  This dividend will be paid, if approved by shareholders at the AGM, on 
8 July 2011 to those shareholders who are on the register on 10 June 2011. 
 
Material events and transactions 
The Fund's Board is not aware of any other significant event or transaction 
which has occurred between the 1 February 2011 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: 
Stuart Nicol - Fund Manager 
Octopus Investments Limited - 0800 316 2347 
 
ENDS 
 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
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(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 VCT1 plc via Thomson Reuters ONE 
 
[HUG#1519436]