Octopus TitanVCT PLC Fund Update

 
TIDMOTV2 
 
   Octopus Titan VCT plc 
 
   (The "Company") 
 
   6 September 2018 
 
   Fund Update 
 
   In the three-month period to 31 July 2018, Titan made seven follow-on 
investments and five new investments resulting in a portfolio of 67 
companies. The investment cost of the acquisitions totalled GBP31m. 
 
   Between 30 April 2018 and 31 July 2018, there has been a reduction in 
cash and cash equivalents of GBP26 million, resulting in a cash and cash 
equivalents balance of GBP216 million. This cash outflow comprised GBP31 
million in respect of investments, GBP1m in respect of investments that 
had not completed at the quarter end, GBP1 million in respect of fund 
expenses and GBP3 million in respect of share buybacks, offset by a 
GBP1m increase in the valuation of Titan's cash equivalent investments, 
GBP1m funds raised under the 2017/18 Offer and GBP8m received from the 
full disposals of Tails.com and Mi-Pay and the part disposal of Time 
Out. Titan is due to receive retention proceeds in relation to Tails.com 
in due course. 
 
   The net asset value was 92.3p per share following the payment of the 2p 
per share interim dividend on 24 August 2018 to shareholders on the 
register as at 3 August 2018. 
 
   For further enquiries, please contact: 
 
   Jo Oliver 
 
   Octopus Investments Limited 
 
   0800 316 2295 
 
 
 
 
 
 

(END) Dow Jones Newswires

September 06, 2018 11:28 ET (15:28 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.