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Octopus VCT 2 PLC : Interim Management Statement

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Octopus VCT 2 PLC
Interim Management Statement

 20 October 2014

In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and Transparency rules, Octopus VCT 2 plc ("Company") presents an Interim Management Statement for the period 1 July 2014 to 30 September 2014. The statement also includes relevant financial information between the end of the period and the date of this statement.

Financial Summary

  9 months to 30 September 2014 6 months to 30 June 2014 4 months to 30 April 2014
Net assets (£'000s) 18,726 18,831 19,299
Return on ordinary activities before tax (£'000s) 11

 

  		42   (11)
Net asset value per share ('NAV') 98.1p

  		98.3p   100.5p
Cumulative dividends paid 2.5p

  		2.5p   -
 Total return 100.6p 100.8p 100.5p

Performance
As at 30 September 2014 the NAV of the Company was 98.1p, compared with 98.3p as at 30 June 2014. This small decrease in the NAV was due to the standard running costs of the company exceeding the income received.

There have been no changes to any unquoted investment valuations since the half year ended 30 June 2014.

Investment activity
A loan repayment of £103,000 was received from Shakti Power Limited on 3 July 2014, plus all interest accrued at that point.


Top ten investment portfolio by value as at 30 September 2014

Company Sector Carrying value £'000 % of Net Assets
Sula Power Limited Solar 1,245 6.6%
Superior Heat Limited Ground Source Heat 1,000 5.3%
Winnipeg Heat Limited Ground Source Heat 1,000 5.3%
5AM Music Limited Media 850 4.5%
Howbery Solar Park Limited Solar 707 3.8%
Meri Power Limited Solar 622 3.3%
Donoma Power Limited Solar 622 3.3%
Kala Power Limited Solar 622 3.3%
Aashman Power Limited Solar 622 3.3%
Tonatiuh Trading 1 Limited Solar 622 3.3%

Buybacks
On 19 September 2014 the Company bought back 75,000 Ordinary shares at a price of 97.75p per share.

Material events and transactions
The Board is not aware of any other significant event or transaction which has occurred between 1 October 2014 and the date of the publication of this statement which would have a material impact on the financial position on the Company.

For further information please contact:
Benjamin Davis - Fund Manager
Octopus Investments Limited - 0800 316 2347

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 VCT 2 PLC via Globenewswire
HUG#1864289

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