Octopus TitanVCT PLC Octopus Titan Vct Plc : Issue Of Equity, Total Voting Rights And Fundraise Update

 
TIDMOTV2 
 
 
   OCTOPUS TITAN VCT PLC 
 
   20 December 2016 
 
   Issue of Equity, Total Voting Rights and Fundraise Update 
 
   Octopus Titan VCT plc (the "Company") announces that 56,927,819 Ordinary 
Shares of 10p each ("shares") were issued and allotted on 16 December 
2016 at a price of 103.6p per share, equivalent to the current NAV of 
97.9p grossed up by 5.5% (as set out in the Prospectus dated 23 August 
2016). 
 
   These shares were issued pursuant to an Offer for Subscription to raise 
up to GBP70 million, with an over allotment facility of GBP50 million, 
in the 2016/2017 and 2017/2018 tax years, dated 23 August 2016. 
 
   Following Friday's allotment, the issued share capital and total voting 
rights of the Company are now 379,545,501 and the unaudited net assets 
of the Company are approximately GBP371 million, based on a NAV per 
share of 97.9p. 
 
   The Board and the Manager believe that the success of the fundraising to 
date will provide the Manager with flexibility to invest in the exciting 
pipeline of new opportunities and to also support existing investee 
companies. 
 
   Included within yesterday's allotment were the following: 
 
   Mr John Hustler, a director of the Company, was allotted 10,375 Ordinary 
Shares at a price per share of 103.6p and his total holdings are now 
82,178, representing less than 0.1% of the Company's issued Ordinary 
share capital. 
 
   Mr Mark Hawkesworth, a director of the Company, was allotted 10,375 
Ordinary Shares at a price per share of 103.6p and his total holdings 
are now 75,685, representing less than 0.1% of the Company's issued 
Ordinary share capital. 
 
   Mrs Jane O'Riordan, a director of the Company, was allotted 10,375 
Ordinary Shares at a price per share of 103.6p and her total holdings 
and those of the persons closely associated with her are now 55,412, 
representing less than 0.1% of the Company's issued Ordinary share 
capital. 
 
   Application has been made to the London Stock Exchange for admission of 
the new shares. Admission is expected to become effective on or around 
4th January 2017. 
 
   For further information please contact: 
 
   Nicola Board 
 
   Company Secretary 
 
   0207 776 8663 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq 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 
 
 
  http://www.octopusinvestments.com 
 

(END) Dow Jones Newswires

December 20, 2016 04:12 ET (09:12 GMT)

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