LONDON (Alliance News) - Octopus Apollo VCT PLC said Wednesday its saw a negative return for its most recently ended financial year, leading to a drop in net asset value and dividend payout.
Octopus Apollo reported a net asset value negative return, plus dividends paid, of 0.8% for the year to the end of January, compared to a positive return of 2.2% the year before.
Octopus Apollo proposed a final dividend of 1.5 pence per share down from 1.6p. It did not declare any special dividend for 2019 financial, versus 10.7p special payout a year ago.
Net asset value per share as at January 31 dropped to 47.1 pence, down from 50.6p the same date the year before.
During the year, Octopus Apollo invested GBP17.5 million in total, into five new investments and follow-on capital to existing investees. There were six exits of portfolio companies, generating GBP1.7 million in total.
Looking ahead, Octopus Apollo said it is planning to launch a fund raising later in May for an initial GBP20 million, with a GBP10 million over allotment facility.
The proceeds will go towards allowing the investment team to continue making investments for the trust.
Shares in Octopus Apollo were untraded on Wednesday, last quoted at 43.40 pence.