TIDMOTV3 
 
Octopus Titan VCT 3 plc 
Interim Management Statement 
 
24 August 2012 
 
In accordance with Rule 4.3 of the UK Listing Authority's Disclosure and 
Transparency rules, Octopus Titan VCT 3 plc ('Titan 3' or 'VCT') presents an 
Interim Management Statement for the period 1 May 2012 to 31 July 2012.  The 
statement also includes relevant financial information between the end of the 
period and the date of this statement. 
 
Financial Summary 
                                              As at 30 April   As at 31 October 
                        As at 31 July 2012              2012               2011 
=------------------------------------------------------------------------------ 
 
 
 Net assets ( GBP'000s)                19,562            20,154             18,811 
 
 Return after tax                    (207)               169              (780) 
 ( GBP'000s) 
 
 Net asset value per                 91.0p             93.7p              92.9p 
 share (NAV) 
 
 Cumulative dividends                 1.0p                 -                  - 
 paid since launch 
 
 Total return (NAV plus              92.0p             93.7p              92.9p 
 dividends paid) 
 
 
Investment performance 
At 31 July 2012, the Total Return of the VCT, being the Net Asset Value (NAV) 
plus cumulative dividends, was 92.0p compared to 93.7p at 30 April 2012. The 
decrease in the Total Return has arisen as a result of the standard running 
costs of the Fund exceeding the income as well as a downward valuation in the 
Open Ended Investment Companies ('OEICs') during the period. There have been no 
changes in the unquoted valuations since 30 April 2012. 
 
As mentioned previously, having reached the level of invested funds required by 
HMRC last October, the focus has shifted to monitoring and developing the 
existing portfolio companies, alongside giving them support with both advice and 
funding.During the period under review, Titan 3 made follow-on investments into 
Certivox ( GBP300,000), GetOptics ( GBP85,000) and Diverse Energy ( GBP15,625). 
Encouragingly, Titan 3 successfully part disposed Zoopla, realising a gain of 
 GBP150k. 
 
A small decrease in the fair value of the VCT's investments in the OEICs has 
been recognised during the period. This was largely attributable to a 3.9% 
decrease in fair value in the CF Octopus UK Micro Cap Growth Fund. 
 
The total value of the investment portfolio at 31 July 2012 was  GBP15.7 million. 
By value, 77.7% of the Company's net assets are in unquoted investments, 2.7% in 
AIM-quoted investments and 15.4% in Octopus OEICS, leaving 4.2% currently in 
cash or cash equivalents, together with debtors and creditors. 
 
Top Ten Qualifying Investment Portfolio by value as at 31 July 2012 
 Company                                           Carrying value    % of total 
                     Sector                                  GBP'000    net assets 
=------------------------------------------------------------------------------ 
 Nature Delivered    Consumer lifestyle & 
 Limited             wellbeing                              1,705          8.7% 
 
 Calastone Limited   Technology                             1,526          7.8% 
 
 Evi Technologies 
 Limited (formally   Media                                  1,409          7.2% 
 True Knowledge) 
 
 Zoopla Limited      Media                                  1,402          7.2% 
 
 Certivox Limited    Technology                               899          4.6% 
 
 Semafone Limited    Telecommunications                       782          4.0% 
 
 Secret Escapes      Consumer lifestyle & 
 Limited             wellbeing                                732          3.7% 
 
 Executive Channel 
 Limited             Media                                    701          3.6% 
 
 Vega-Chi Limited    Technology                               691          3.5% 
 
 Surrey Nanosystems 
 Limited             Technology                               621          3.2% 
 
 
Dividends 
As announced in the recently published half-yearly report, the interim dividend 
of 1.0p per share was paid on 27 July 2012 to those shareholders on the register 
on 29 June 2012. 
 
Material events and transactions 
The VCT made a further follow-on investment of  GBP15,625 into Diverse Energy on 
24 August 2012. Titan 3's Board is not aware of any other significant event 
which has occurred between 1 August 2012 and the date of publication of this 
statement which would have a material impact on the financial position of the 
VCT. 
 
For further information please contact: 
Alex Macpherson- Fund Manager 
Octopus Investments Limited - 0800 316 2349 
 
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 Titan VCT 3 PLC via Thomson Reuters ONE 
[HUG#1636187]
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