Portfolio Update

Octopus AIM VCT plc

18 August 2021

Portfolio Update

The investment portfolio of Octopus AIM VCT plc (the "Company") as at 18 August 2021 is as follows (the valuations being the unaudited valuations, at bid price, as at 31 July 2021):

Investee Company	Sector	Book cost (£000)	Movement in valuation (£000)	Fair Value (£000)
Learning Technologies Group plc	Software and Computer Services	1,051	8,901	9,952
Ergomed plc	Pharmaceuticals and Biotechnology	1,273	7,863	9,136
Breedon Group plc	Construction and Materials	859	6,854	7,713
GB Group plc	Software and Computer Services	505	6,662	7,167
MaxCyte, Inc.	Pharmaceuticals and Biotechnology	1,035	4,300	5,335
Trackwise Designs plc	Technology Hardware and Equipment	1,934	2,616	4,550
SDI Group plc	Technology Hardware and Equipment	179	4,196	4,375
EKF Diagnostics Holdings plc	Medical Equipment and Services	931	3,190	4,121
Sosandar plc	Retailers	1,853	2,071	3,924
Brooks Macdonald Group plc	Investment Banking and Brokerage Services	746	2,987	3,733
Gear4music (Holdings) PLC	Leisure Goods	529	3,009	3,538
IDOX plc	Software and Computer Services	353	2,837	3,190
Panoply Holdings plc	Software and Computer Services	979	2,197	3,176
Judges Scientific plc	Electronic and Electrical Equipment	314	2,862	3,176
Hasgrove plc*	Media	88	3,074	3,162
Ilika plc	Energy	1,058	2,001	3,059
Craneware plc	Health Care Providers	183	2,784	2,967
Mattioli Woods plc	Investment Banking and Brokerage Services	529	2,382	2,911
PCI-Pal plc	Software and Computer Services	1,098	1,485	2,583
Ixico plc	Pharmaceuticals and Biotechnology	1,046	1,494	2,540
Renalytix plc	Health Care Providers	288	2,201	2,489
Intelligent Ultrasound Group plc	Medical Equipment and Services	1,830	596	2,426
Creo Medical Group plc	Medical Equipment and Services	1,471	883	2,354
VR Education Holdings plc	Software and Computer Services	1,879	472	2,351
LungLife AI, Inc.	Pharmaceuticals and Biotechnology	2,079	224	2,303
Next Fifteen Communications Group plc	Media	515	1,717	2,232
Netcall plc	Software and Computer Services	308	1,853	2,161
Quixant plc	Technology Hardware and Equipment	587	1,515	2,102
Popsa Holdings Ltd*	Software and Computer Services	1,170	927	2,097
Access Intelligence plc	Software and Computer Services	678	1,215	1,893
ReNeuron Group plc	Pharmaceuticals and Biotechnology	1,524	255	1,779
Animalcare Group plc	Pharmaceuticals and Biotechnology	306	1,411	1,717
Spectral MD Holdings Limited	Health Care Providers	2,115	(502)	1,613
Gamma Communications plc	Telecommunications Service Providers	274	1,212	1,486
Glantus Holdings plc	Industrial Support Services	1,800	(353)	1,447
Verici Dx plc	Pharmaceuticals and Biotechnology	396	1,030	1,426
Cambridge Cognition Holdings plc	Health Care Providers	601	815	1,416
RWS Holdings plc	Industrial Support Services	143	1,237	1,380
Gooch & Housego plc	Technology Hardware and Equipment	422	955	1,377
Diaceutics plc	Health Care Providers	930	391	1,321
British Honey Company Limited	Retailers	1,260	46	1,306
Advanced Medical Solutions Group plc	Medical Equipment and Services	743	545	1,288
Vertu Motors plc	Retailers	1,265	(25)	1,240
Fusion Antibodies plc	Health Care Providers	745	368	1,113
In the Style Group Plc	Retailers	1,000	110	1,110
Adept Technology Group Plc	Telecommunications Service Providers	601	446	1,047
Beeks Financial Cloud Group plc	Software and Computer Services	450	531	981
Polarean Imaging Plc	Medical Equipment and Services	687	263	950
GENinCode UK Ltd.	Medical Equipment and Services	1,200	(273)	927
Restore plc	Industrial Support Services	256	627	883
Vectura Group plc	Pharmaceuticals and Biotechnology	498	343	841
Clinigen Group plc	Pharmaceuticals and Biotechnology	701	(5)	696
Synairgen plc	Pharmaceuticals and Biotechnology	147	505	652
Cloudcall Group plc	Software and Computer Services	936	(304)	632
Evgen Pharma plc	Pharmaceuticals and Biotechnology	1,050	(420)	630
Osirium Technologies plc Loan Notes	Software and Computer Services	600	0	600
Crimson Tide plc	Software and Computer Services	567	(38)	529
Oberon Investments Group plc	Investment Banking and Brokerage Services	480	24	504
DXS International plc	Software and Computer Services	300	112	412
Rosslyn Data Technologies plc	Software and Computer Services	429	(24)	405
Maestrano Group plc	Software and Computer Services	443	(103)	340
DP Poland plc	Travel and Leisure	1,016	(685)	331
Falanx Group Ltd	Industrial Support Services	900	(585)	315
The Food Marketplace Ltd*	Retailers	300	0	300
Eluceda Limited*	Pharmaceuticals and Biotechnology	300	0	300
MyCelx Technologies Corp	Oil, Gas and Coal	1,470	(1,177)	293
WANdisco plc	Software and Computer Services	145	127	272
Airnow plc*	Software and Computer Services	1,257	(994)	263
Escape Hunt plc	Travel and Leisure	988	(739)	249
KRM22 plc	Closed End Investments	681	(442)	239
Staffline Group plc	Industrial Support Services	335	(98)	237
Trellus Health Plc	Health Care Providers	136	92	228
Genedrive Plc	Pharmaceuticals and Biotechnology	361	(135)	226
Mears Group plc	Software and Computer Services	139	85	224
TP Group plc	Aerospace and Defense	648	(430)	218
Abingdon Health plc	Medical Equipment and Services	521	(309)	212
Feedback plc	Medical Equipment and Services	300	(90)	210
Osirium Technologies plc	Software and Computer Services	1,350	(1,155)	195
Velocity Composites plc	Aerospace and Defense	799	(611)	188
Verici DX plc	Pharmaceuticals and Biotechnology	51	132	183
Enteq Upstream plc	Oil, Gas and Coal	1,032	(862)	170
Parsley Box Group plc	Personal Care, Drug and Grocery Stores	213	(76)	137
LoopUp Group plc	Software and Computer Services	296	(180)	116
Tasty plc	Travel and Leisure	622	(547)	75
Microsaic Systems plc	Electronic and Electrical Equipment	1,384	(1,330)	54
Rated People Ltd*	Software and Computer Services	354	(308)	46
Diurnal Group plc	Pharmaceuticals and Biotechnology	132	(91)	41
1Spatial plc	Software and Computer Services	300	(266)	34
Haydale Graphene Industries plc	Industrial Materials	598	(571)	27
Merit Group plc	Media	203	(185)	18
Midatech Pharma plc	Pharmaceuticals and Biotechnology	600	(597)	3
Location Sciences Group plc	Software and Computer Services	763	(762)	1

Nektan plc is also in Octopus AIM's portfolio but has not been included in the above table as it is currently in administration and Octopus AIM has written down its equity and loan note interest in this company to zero.

Since 31 July 2021 Octopus AIM has made no new investments.

Since 31 July 2021 Octopus AIM has made no disposals.

Unless otherwise stated, all the investments set out above:

- are quoted on public markets;
- represent equity investments except in the case of Nektan plc and Osirium Technologies plc which include investment through loan stock; and
- are in portfolio companies incorporated in the UK with the exception of:

Breedon Group plc – Jersey
Maxcyte Inc – USA
VR Education Holdings plc – Ireland
Falanx Group Limited – British Virgin Islands
MyCelx Technologies Corp – USA
Nektan plc – Gibraltar

*Denotes unlisted company

Current Asset Investments (unaudited)

Investee Company	Sector	Book cost (£000)	Movement in valuation (£000)	Fair Value (£000)
Octopus UK Micro Cap Growth Fund	n/a	5,610	4,991	10,601
Octopus UK Multi Cap Income Fund	n/a	5,889	1,808	7,697
Money Market Funds	n/a	1,326	0	1,326

Since 31 July 2021 there have been no new investments or disposals of current asset investments.

The capitalisation of Octopus AIM as at 31 July 2021 was as follows:

Shareholders' Equity		£000’s
Called up Equity Share Capital		1,433
Legal reserves		58,116
Other reserves		122,107
Total		181,656

There has been no material change to the capitalisation since 31 July 2021.

For further information, please contact:

Uloma Adighibe

Octopus Company Secretarial Services Limited
Tel: 020 3935 4186