Octopus Titan VCT 4 Octopus Titan Vct 4 Plc : Interim Management Statement

 
TIDMOTV4 
 
   Octopus Titan VCT 4 plc 
 
   Interim Management Statement 
 
   28 February 2014 
 
   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 2013 
to 31 January 2014.  The statement also includes relevant financial 
information between the end of the period and the date of this 
statement. 
 
   Financial Summary 
 
 
 
 
                             3 months to 31 January 
                                      2014             Year to 31 October 2013 
 
Net assets (GBP'000s)                          32,229                   29,231 
Return on ordinary 
 activities after tax 
 (GBP'000s)                                      (22)                    3,935 
Net asset value per share                      100.5p                   100.7p 
 ('NAV') 
Cumulative dividends paid                        1.0p                     1.0p 
 since launch 
Total return (NAV plus                         101.5p                   101.7p 
 dividends paid) 
 
   Investment performance 
 
   As at 31 January 2014 the Total Return of the VCT was 101.5p, which 
compares to 101.7p at 31 October 2013. The small decrease in the NAV is 
due to the standard running costs of the Fund exceeding the GBP257,000 
increase in value of Titan 4's investments in the Open Ended Investment 
Companies ('OEICs') over the period to 31 January 2014. There have been 
no changes in the valuation of the unquoted portfolio during the period. 
 
   The portfolio's strategy continues to be one of managing the portfolio 
and investing further into those companies where there is potential for 
capital growth. Your Investment Manager is also seeing a number of new 
opportunities. During the period under review, the VCT made eight 
follow-on investments with a total value of GBP2,321,000 and three new 
investments with a combined value of GBP450,000. 
 
   Top Ten Qualifying Investment Portfolio as at 31 January 2014 
 
 
 
 
                                          Carrying value      % of total net 
Company             Sector                    GBP'000             assets 
Secret Escapes      Consumer lifestyle 
 Limited             & wellbeing                     9,180               28.5% 
TouchType Limited   Telecommunications               2,233                6.9% 
UltraSoC 
 Technologies 
 Limited            Technology                       1,364                4.2% 
Certivox Limited    Technology                       1,234                3.8% 
Artesian Solutions 
 Limited            Technology                       1,229                3.8% 
Amplience Limited   Technology                       1,159                3.6% 
Aframe Media Group 
 Limited            Media                            1,077                3.3% 
Leanworks Limited   Consumer lifestyle 
 (YPlan)             & wellbeing                     1,066                3.3% 
Vega-Chi Limited    Technology                         962                3.0% 
Iovox Limited       Telecommunications                 896                2.8% 
 
   Dividends 
 
   As announced in the recently published annual results, the proposed 
final dividend of 2.0p per share for the year ended 31 October 2013 will 
be paid on 4 April 2014 to those shareholders on the register on 7 March 
2014 subject to approval at the AGM. 
 
   Linked Fund Raise 
 
   Titan 4, in conjunction with the other Titan funds, is seeking to raise 
a total of GBP35 million, with an over-allotment facility of GBP15 
million. The amount raised will be allotted equally between the five 
Titan Funds. The following allotments have taken place: 
 
 
   -- On 12 December 2013 3,019,393 shares were allotted at a price of 106.6p 
      per share. 
 
   -- On 14 February 2014 1,026,897 shares were allotted at a price of 106.4p 
      per share. 
 
   Material events and transactions 
 
   Since 31 January 2014, Titan 4 made one new investment of GBP300,000 in 
Adbrain Limited. 
 
   Titan 4's Board is not aware of any other significant event which has 
occurred between 31 January 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 4 PLC via Globenewswire 
 
   HUG#1765520 
 
 
  http://www.octopusinvestments.com