Octopus Titan VCT 4 PLC : Interim Management Statement

 
TIDMOTV4 
 
Octopus Titan VCT 4 plc 
Interim Management Statement 
 
16 March 2012 
 
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 2011 to 31 January 
2012.  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 
                                                    2012 Year to 31 October 2011 
=------------------------------------------------------------------------------- 
 
 
Net assets ( GBP'000s)                               19,996                  20,086 
 
Return on ordinary activities 
before tax ( GBP'000s)                                 (90)                 (1,085) 
 
Net asset value per share 
('NAV')                                            88.6p                   89.0p 
 
 
Investment performance 
As at 31 January 2012 the NAV of the VCT was 88.6p, which compares to 89.0p at 
31 October 2011. Titan 4's investments in the Open Ended Investment Companies 
('OEICs') have seen an overall increase in value of  GBP55,000 over the three 
months to 31 January 2012  which has contributed to an increase in the net asset 
value of 0.2p. This, however, has been offset against the VCT's standard running 
costs in the period. There have been no valuation movements in the unquoted 
portfolio during the three month period. 
 
Titan 4 has continued to see a good deal flow over the last four months. Since 
31 October 2011, the VCT has invested  GBP500,000 into Rangespan, a supply chain 
management company and  GBP500,000 into Artesian, a business software company. In 
addition, follow on investments of  GBP300,000 into Curlet (UK) and  GBP124,000 into 
PrismaStar were made during the period. This has brought the total portfolio to 
16 current trading businesses. 
 
The total value of the investment portfolio at 31 January 2012 was  GBP7.1 million. 
By value, 35.5% of the Company's net assets were in unquoted investments, 22.7% 
in Octopus OEICs, leaving 41.2% in cash or cash equivalents. 
 
Top Ten Qualifying Investment Portfolio as at 31 January 2012 
Company                                             Carrying value    % of total 
                      Sector                                  GBP'000    net assets 
=------------------------------------------------------------------------------- 
Secret Escapes        Consumer lifestyle & 
Limited               wellbeing                                732          3.7% 
 
Executive Channel 
Limited               Media                                    701          3.5% 
 
Michelson Diagnostics Consumer lifestyle & 
Limited               wellbeing                                650          3.2% 
 
Certivox Limited      Technology                               599          3.0% 
 
Touch Type Limited    Telecommunications                       549          2.7% 
 
Rangespan Limited     Technology                               500          2.5% 
 
Vega-Chi Limited      Technology                               500          2.5% 
 
Artesian Limited      Technology                               500          2.5% 
 
Applied               Environmental 
Superconductor 
Limited                                                        493          2.5% 
 
Curlet (UK)  Limited  Technology                               489          2.4% 
 
 
Material events and transactions 
Titan 4, in conjunction with the other Titan funds, is raising a total of  GBP6.25 
million with a view to allot on 5 April 2012 immediately preceded by a 
publication of the NAV at that date. 
 
Titan 4's Board is not aware of any other significant event which has occurred 
between 31 January 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 2349 
 
ENDS 
 
 
 
 
 
 
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     originality of the information contained therein. 
 
Source: Octopus Titan VCT 4 PLC via Thomson Reuters ONE 
 
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