(Alliance News) - Octopus Apollo VCT PLC on Friday said performance improved in its most recently ended financial year.
The venture capital trust said its net asset value per share as at the end of January was 49.2 pence, up from 45.7p a year ago, noting that financial 2021 was the strongest year ever despite the virus pandemic.
Octopus Apollo VCT shares were trading 2.1% lower in London on Friday morning at 46.60p each.
The company noted that its focus on the technology sector played a major role in its positive performance, with the value of a number of its investee companies rising.
During the year, the trust said it invested GBP15.9 million, with GBP7.6 million into two new investments and GBP8.3 million of follow-on capital into existing investee companies to fund their growth plans.
There were two partial exits and two full exits of portfolio companies during the year, generating total proceeds to the company of GBP3.4 million.
Octopus Apollo VCT declared a dividend of 1.3p per share up 18% from 1.1p paid the year prior.
Since the January year-end, the company said it has reviewed the portfolio in advance of recent share allotments, and this led to an increase in the NAV per share to 50.1p as of March 12. In part, this reflects the successful conclusion of some exits, the company noted.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Octopus Ap (OAP3)