Octopus TitanVCT PLC Octopus Titan Vct Plc : Publication Of Prospectus And Circular

 
TIDMOTV2 
 
 
   Octopus Titan VCT plc ("the "Company") 
 
   23 August 2016 
 
   Publication of Prospectus and Circular 
 
   The Company has today issued a prospectus and circular relating to a 
proposed offer for subscription for ordinary shares of 10p each in the 
Company ("New Shares") to raise up to GBP70 million with an over 
allotment facility of up to a further GBP50 million (the "Offer"), 
following the approval of the prospectus from the UK Listing Authority. 
 
   Pursuant to an agreement dated 23 August 2016 relating to the Offer, 
between the Company and Octopus Investments Limited, the Company's 
investment manager (the "Investment Manager") and which constitutes a 
smaller related party transaction within Listing Rule 11.1.10 R, the 
Investment Manager will receive: 
 
 
   -- an initial charge of 3 per cent. of the gross funds raised under the 
      Offer by the Company; and 
 
   -- a further charge of up to 2.5 per cent of gross funds raised under the 
      Offer by the Company from investors who have not invested their money 
      through a financial intermediary ("Direct Investors"); and 
 
   -- an additional ongoing charge of 0.5% per annum of the most recently 
      announced net asset value multiplied by the number of New Shares allotted 
      to Direct Investors for up to nine years, provided the Direct Investors 
      continue to hold the New Shares. 
 
 
 
   The Offer is now open and will close at noon on 5 April 2017 for the 
2016/2017 tax year and noon on 21 August 2017 for the 2017/2018 tax year, 
or earlier if the Offer is fully subscribed. The board of the Company 
reserves the right to close the Offer earlier. 
 
   The prospectus and circular will shortly be available for inspection at 
the National Storage Mechanism, which is located at: 
 
   http://www.hemscott.com/nsm.do 
 
   and on the Company's website 
 
   http://www.octopusinvestments.com 
 
   For further information please contact: 
 
   Nicola Board 
 
   Company Secretary 
 
   0207 776 8663 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Octopus Titan VCT plc via Globenewswire 
 
   HUG#2036812 
 
 
  http://www.octopusinvestments.com 
 

(END) Dow Jones Newswires

August 23, 2016 11:38 ET (15:38 GMT)

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