TIDMOVC2 
 
Octopus VCT 2 PLC 
Interim Management Statement 
 
7 November 2011 
 
In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and 
Transparency rules, Octopus VCT 2 plc ("Fund" or "Company") presents an Interim 
Management Statement for the period 1 July 2011 to 31 October 2011. The 
statement also includes relevant financial information between the end of the 
period and the date of this statement. 
 
Financial Summary 
+------------------------------+------------------------+----------------------+ 
|                              |      Four months to 31 |  Six months ended 30 | 
|                              |            October 2011|             June 2011| 
+------------------------------+------------------------+----------------------+ 
|Net assets (000s)             |                  18,047|                18,133| 
+------------------------------+------------------------+----------------------+ 
|Net (loss)/profit before tax  |                        |                      | 
|(000s)                        |                   (193)|                 (107)| 
+------------------------------+------------------------+----------------------+ 
|Net asset value per share     |                        |                      | 
|('NAV')                       |                   93.5p|                 94.0p| 
+------------------------------+------------------------+----------------------+ 
 
Performance 
As at 31 October 2011 the NAV of the Fund was 93.5p, which compares to 94.0p as 
at 30 June 2011. The performance of the Fund has been relatively stable in the 
period under review, with a slight reduction in the NAV. This is to be expected 
at the early stages of the Company due to the running costs of the VCT exceeding 
the income generated. 
 
There have been no changes to any unquoted investment valuations, with the 
entire portfolio currently valued at cost. 
 
Investment activity 
In the period under review, Octopus VCT 2 plc has invested  GBP792,000 into Shakti 
Power Limited, a solar company. 
This is in addition to the  GBP9.1 million already invested into solar companies 
that have been set up to benefit from the UK government's incentives to increase 
renewable energy production. 
Investment portfolio by value as at 31 October 2011 
+------------------------+----------------+--------------------+---------------+ 
|Company                 |Investment class|Carrying value  GBP'000|% of Net Assets| 
+------------------------+----------------+--------------------+---------------+ 
|Shakti Power Limited    |           Solar|                 792|           4.4%| 
+------------------------+----------------+--------------------+---------------+ 
|Howbery Solar Limited   |           Solar|                 600|           3.3%| 
+------------------------+----------------+--------------------+---------------+ 
|Aashman Power Limited   |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Cyrah Power Limited     |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Donoma Power Limited    |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Evaki Power Limited     |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Gnowee Power Limited    |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Grian Power Limited     |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Helaku Power Limited    |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Intina Power Limited    |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Kala Power Limited      |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Nima Power Limited      |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Palk Power Limited      |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Sula Power Limited      |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Teruko Power Limited    |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Tonatiuh Trading 1      |                |                    |               | 
|Limited                 |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Tonatiuh Trading 2      |                |                    |               | 
|Limited                 |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Tuwale Power Limited    |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
|Yata Power Limited      |           Solar|                 500|           2.8%| 
+------------------------+----------------+--------------------+---------------+ 
Material events and transactions 
The Fund's Board is not aware of any other significant event or transaction 
which has occurred between the 1 November 2011 and the date of publication of 
this statement which would have a material impact on the financial position on 
the Fund. 
 
For further information please contact: 
Stuart Nicol - Fund Manager 
Octopus Investments Limited - 0800 316 2347 
 
ENDS 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Octopus VCT 2 PLC via Thomson Reuters ONE 
 
[HUG#1561475] 
 

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