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Portfolio Update

Octopus AIM VCT plc

28 November 2019

Portfolio Update

The investment portfolio of Octopus AIM VCT plc (the "Company") as at 28 November 2019 is as follows (the valuations being the unaudited valuations, at bid price, as at 31 October 2019):

Investee Company Sector Book cost (£000) Movement in valuation (£000) Fair Value (£000)
GB Group plc Software and Computer Services 663 5,871 6,534
Learning Technologies Group plc Software and Computer Services 1,118 4,145 5,263
Breedon Group plc Construction and Materials 859 3,863 4,722
Craneware plc Finance and Credit Services 183 3,060 3,243
Brooks Macdonald Group plc Investment Banking and Brokerage Services 746 2,209 2,955
Ixico plc Pharmaceuticals, Biotechnology 1,127 1,731 2,858
Mattioli Woods plc Investment Banking and Brokerage Services 529 2,322 2,851
Ergomed plc Pharmaceuticals, Biotechnology 1,440 1,376 2,816
Quixant plc Technology Hardware and Equipment 587 1,782 2,369
Judges Scientific plc Electronic and Electrical Equipment 314 1,894 2,208
Creo Medical Group plc Medical Equipment and Services 1,471 694 2,165
Sosandar plc Retailers 1,498 449 1,947
EKF Diagnostics Holdings plc Medical Equipment and Services 931 841 1,772
Popsa Holdings Ltd* Software and Computer Services 960 796 1,756
IDOX plc Software and Computer Services 353 1,251 1,604
Cello Group plc Health Care Providers 895 618 1,513
Adept Telecom plc Telecommunications Service Providers 601 874 1,475
RWS Holdings plc Industrial Support Services 143 1,317 1,460
Equals Group plc Industrial Support Services 948 490 1,438
Scientific Digital Imaging plc Medical Equipment and Services 179 1,129 1,308
Next Fifteen Communications Group plc Media 515 710 1,225
Diaceutics plc Health Care Providers 930 232 1,162
Advanced Medical Solutions Group plc Medical Equipment and Services 743 369 1,112
Gamma Communications plc Telecommunications Service Providers 366 738 1,104
Gooch & Housego plc Technology Hardware and Equipment 422 681 1,103
Intelligent Ultrasound Group plc Medical Equipment and Services 1,199 (120) 1,079
Vertu Motors plc Retailers 1,265 (188) 1,077
Nasstar plc Software and Computer Services 481 586 1,067
The Panoply Holdings plc Software and Computer Services 979 79 1,058
Hasgrove plc* Media 88 899 987
Access Intelligence plc Software and Computer Services 806 178 984
Clinigen Group plc Pharmaceuticals, Biotechnology 701 265 966
Osirium Technologies plc Software and Computer Services 1,950 (1,025) 925
C4X Discovery plc Pharmaceuticals, Biotechnology 900 0 900
Animalcare Group plc Pharmaceuticals, Biotechnology 306 591 897
Gear4music Holdings plc Leisure Goods 557 285 842
Restore plc Industrial Support Services 256 549 805
Beeks Financial Cloud Group plc Software and Computer Services 450 297 747
Netcall plc Software and Computer Services 308 432 740
VR Education Holdings plc Software and Computer Services 1,033 (362) 671
Renalytix plc Medical Equipment and Services 307 327 634
Trackwise Designs plc Technology Hardware and Equipment 1,050 (450) 600
Cloudcall Group plc Software and Computer Services 570 11 581
Maxcyte Inc Pharmaceuticals, Biotechnology 1,035 (485) 550
MyCelx Technologies Corporation Gas, Water and Multi-utilities 1,470 (933) 537
Nektan Limited Travel and Leisure 1,345 (813) 532
Vectura Group plc Pharmaceuticals, Biotechnology 498 (16) 482
Falanx Group Limited Industrial Support Services 900 (420) 480
Fusion Antibodies plc Health Care Providers 577 (99) 478
PCI-Pal plc Industrial Support Services 720 (304) 416
Omega Diagnostics Group plc Medical Equipment and Services 465 (82) 383
Staffline Recruitment Group plc Industrial Support Services 334 24 358
KRM22 plc Closed End Investments 681 (327) 354
WANdisco plc Software and Computer Services 145 197 342
TP Group plc Aerospace and Defense 648 (313) 335
appScatter Group plc* Software 1,257 (924) 333
Mears Group plc Support Services 139 166 305
Enteq Upstream plc Oil, Gas and Coal 1,032 (743) 289
LoopUp Group plc Software and Computer Services 460 (175) 285
Microsaic Systems plc Electronic and Electrical Equipment 1,384 (1,126) 258
Velocity Composites plc Aerospace and Defense 799 (545) 254
Cambridge Cognition Holdings plc Health Care Providers 601 (386) 215
DP Poland plc Travel and Leisure 1,016 (803) 213
Escape Hunt plc Travel and Leisure 988 (827) 161
Rated People Ltd* Software 354 (222) 132
Brady plc Software and Computer Services 613 (483) 130
Fusionex International plc* Software 282 (164) 118
ReNeuron Group plc Pharmaceuticals, Biotechnology 324 (246) 78
Maestrano Group plc Software and Computer Services 636 (585) 51
Dods Group plc Media 203 (152) 51
Tasty plc Travel and Leisure 622 (577) 45
Genedrive Plc Pharmaceuticals, Biotechnology 210 (168) 42
1Spatial plc Software and Computer Services 300 (270) 30
Diurnal Group plc Pharmaceuticals, Biotechnology 132 (111) 21
Midatech Pharma plc Pharmaceuticals, Biotechnology 600 (591) 9
Location Sciences Group plc Software and Computer Services 763 (756) 7
Haydale Graphene Industries plc Industrial Materials 598 (593) 5
Bond International Software plc* Software 2 0 2

Since 31 October 2019 there have been no new investments

Since 31 October 2019 there have been 3 disposals with a value of £629,339

Unless otherwise stated, all the investments set out above:

- are quoted on AIM or on the London Stock Exchange Full List
- represent equity investments except in the case of Nektan and Osirium which include investment via loan stock: and
- are in portfolio companies incorporated in the UK with the exception of:

Nektan – Gibraltar
Mycelx – USA
VR Education Holdings plc – Ireland
Maxcyte Inc – USA
BReedon Group – Jersey
Fusionex International – Jersey
Falanx Group Limited – Birtish Virgin Islands

*Denotes unlisted company

Current Liquidity Investments

Investee Company Sector Book cost (£000) Movement in valuation (£000) Fair Value (£000)
Octopus Portfolio Manager - Conservative Capital Growth n/a 11,950 1,055 13,005
Octopus Portfolio Manager - Defensive Capital Growth n/a 11,950 808 12,758
Money Market Funds n/a 1,321 0 1,321
Octopus UK Micro Cap Growth Fund n/a 3,300 891 4,191
Octopus UK Multi Cap Income Fund n/a 828 124 952

Since 31 October 2019 there has been 1 further investment into Octopus UK Multi Cap Income Fund of £99,000

For further information, please contact:

Graham Venables
Octopus Company Secretarial Services Limited

Tel:  02039353803