Octopus VCT Sees Rise In Net Asset Value Per Share In Half Year

LONDON (Alliance News) - Octopus VCT PLC said Thursday it had seen its net asset value per share rise in the half year to end-August to 98.8 pence compared to 94.6 pence the year before.

The trust is in discussions with Apollo VCT PLC about a potential merger. It said that it expects this proposed merger to provide "advantages to Octopus VCT shareholders through providing additional liquidity in 2015 and giving them access to an enlarged VCT with an evergreen mandate."

It is continuing discussions, and said that they may or may not lead to an agreement.

Octopus said that the rise in its net asset value was as a result of the "solid capital performance" of its investment portfolio.

The company declared an interim dividend of 1.0 pence.

Shares in Octopus last closed at 88.00 pence August 15.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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