Octopus Titan VCT plc, a venture capital trust managed by Octopus AIF Management Limited, announces its final results for the year ended December 31, 2024. The companys net assets totaled £831 million, with a net asset value (NAV) per share of 50.5p, representing a net decrease of 8.8p per share from the previous year. The total value per share was 155.6p, and the total return per share was -8.8p (-14.1%). The company utilized £137 million of its cash resources, including £30 million in new and follow-on investments, £44 million in dividends, £38 million in share buybacks, and £25 million in annual investment management fees and other costs. The Board is reviewing the fee structure and considering the results of a shareholder survey, which revealed dissatisfaction with past performance and a desire for capital growth. The company raised over £107 million in a recent fundraise and repurchased 67 million shares for £38 million during the year. The Board expects to provide an update on the strategic review at or before the Annual General Meeting on June 19, 2025.
| Financials & Debt | 2024 | 2023 |
|---|---|---|
| Net assets (£'000) | £831,358 | £993,744 |
| Loss after tax (£'000) | £(147,649) | £(149,499) |
| NAV per share | 50.5p | 62.4p |
| Total value per share1 | 155.6p | 164.4p |
| Total return per share2 | (8.8)p | (9.5)p |
| Total return per share %3 | (14.1)% | (12.4)% |
| Dividends paid in the year | 3.1p | 5.0p |
| Dividend yield %4 | 5.0% | 6.5% |
| Dividend declared | 0.5p | 1.9p |