23rd Apr 2021 19:43
Octopus Titan VCT PLC - venture capital trust - Net asset value per share ends 2020 at 97.0 pence, compared to 95.2p at same point year before. Declares annual dividend of 5.0p in 2020, unchanged on 2019. NAV total return in period 7.1%.
"This increase reflects impressive performance across a number of portfolio companies, despite the challenges of the coronavirus pandemic, and is testament to the efforts of the Octopus Ventures team and the pioneering management teams of the investment companies. The tax-free annual compound return for the original shareholders since Titan's launch in October 2007 is now 5.1%," company says.
Chair John Hustler continues: "I am pleased to report a net uplift in the value of the portfolio of GBP109 million since December 31, 2019, excluding additions and disposals, representing a 17% return on the value of the portfolio at the start of the year. During the year, the uplift in valuation has been driven by the strength of performance of a number of companies in the portfolio. In particular, Amplience, Bought By Many, Cazoo, Depop and WaveOptics have all achieved material increases in value. Collectively, 34 investee companies drove an uplift of GBP225 million. Many of our portfolio companies have made great progress over this period and hit exciting milestones, including launching in new markets, rolling out new products and winning significant accolades."
Current stock price: 96.00 pence
Year-to-date change: up 14%
By Paul McGowan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Octopus T.vct