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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Octopus T. 3 | LSE:OTV3 | London | Ordinary Share | GB00B2Q5VD26 | ORD SHS 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 94.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMOTV3 28 October 2014 Octopus Titan VCT 1 plc ("Titan 1") Octopus Titan VCT 2 plc ("Titan 2") Octopus Titan VCT 3 plc ("Titan 3") Octopus Titan VCT 4 plc ("Titan 4") Octopus Titan VCT 5 plc ("Titan 5") Merger Update, Result of General Meetings and Dividend Declarations At the general meetings of Titan 1, Titan 3, Titan 4 and Titan 5 (the "Companies") held today (the "General Meetings"), resolutions numbered 2 to 4 set out in the notices of general meeting dated 16 September 2014 (the "Notices"), which included resolutions relating to a proposed offer for subscription by the Companies and Titan 2 (the "Offer"), were duly passed. The Offer is now unconditional for all the Companies and Titan 2. Further to previous announcements, the boards of the Companies and Titan 2 are pleased to confirm that they anticipate that all of the conditions relating to the proposed merger of the Companies and Titan 2 (the "Merger"), including shareholder and HMRC approvals, will be satisfied by the end of November 2014, in order that the Merger can proceed in accordance with the revised timetable set out below. The General Meetings were adjourned (the Adjournments") in respect of resolution number 1 ("Resolution 1"), which relates to the liquidation of the Companies prior to the Merger, to 27 November 2014 at 10.00 am, 10.15 am, 10.30 am and 10.45 am for Titan 1, Titan 3, Titan 4 and Titan 5 respectively (the "Adjourned Meetings"). Shareholders of the Companies will be sent a formal notice of their Adjourned Meeting shortly. Proxy forms that have already been cast in respect of Resolution 1 will be valid in respect of the Adjourned Meetings. In view of the Adjournments and to reflect the confidence of the Titan 4 and Titan 5 boards that the Merger will proceed in accordance with the timetable below, the special dividends of 15p and 10p per share that were to have been paid to the Titan 4 and Titan 5 shareholders respectively on 28 November 2014, conditional upon the Merger having taken place (as announced on 16 September 2014 at 18.39 hrs), will now be paid unconditionally on 21 November 2014 to those Titan 4 and Titan 5 shareholders on their respective registers of members on 7 November 2014. The Companies and Titan 2 are also pleased to announce that an interim dividend of 2.5p, 2.5p, 2.5p, 2.p and 2p per share in respect of the period from 1 May 2014 to 31 October 2014 will be paid on 21 November 2014 to the Titan 1, Titan 2, Titan 3, Titan 4 and Titan 5 shareholders respectively who are on their registers of members on 7 November 2014. Following the Merger, Titan 2 does not propose to pay a final dividend, in addition to the above interim dividend, in respect of the financial year ending 31 October 2014. In light of the Adjournments, the amended timetables in respect of the Merger and the Offer are as follows: Merger Titan 2 Scheme Calculation Date after 5.00 pm on 26 November 2014 Scheme Effective Date for the transfer of the assets 27 November 2014 and liabilities of Titan 1, 3, 4 and 5 to Titan 2 and the issue of Scheme Shares Announcement of the results of the Scheme 27 November 2014 Admission of, and dealings in, Scheme Shares issued 28 November 2014 to commence CREST accounts credited (if applicable) 28 November 2014 Certificates for Scheme Shares dispatched to Titan Week commencing 15 1, 3, 4 and 5 Shareholders December 2014 Titan 1, Titan 3, Titan 4 and Titan 5 Latest time for receipt of forms of proxy for the 10 am on 25 November 2014 Adjourned Meetings* Titan 1, 3, 4 and 5 register of members closed 26 November 2014 Final expected date of trading of the Titan 1, 3, 26 November 2014 4 and 5 Shares Scheme Record Date for Titan 1, 3, 4 and 5 Shareholders' 5.00 pm on 26 November 2014 entitlements under the Scheme Scheme Calculation Date after 5.00 pm on 26 November 2014 Dealings in Titan 1, 3, 4 and 5 Shares suspended 7.30 am on 27 November 2014 Titan 1 Adjourned Meeting 10.00 am on 27 November 2014 Titan 3 Adjourned Meeting 10.15 am on 27 November 2014 Titan 4 Adjourned Meeting 10.30 am on 27 November 2014 Titan 5 Adjourned Meeting 10.45 am on 27 November 2014 Scheme Effective Date for the transfer of the 27 November 2014 assets and liabilities of Titan 1, 3, 4 and 5 to Titan 2 and the issue of Scheme Shares** Announcement of the results of the Scheme 27 November 2014 Cancellation of the Titan 1, 3, 4 and 5 Shares' listing 8.00 am on 28 November 2014 * Proxy Forms that have already been cast will be valid at the Adjourned Meetings Offer Deadline for receipt of applications for final allotment 12 noon on 1 April in 2014/15 tax year 2015 Deadline for receipt of applications for final allotment 12 noon on 1 in 2015/16 tax year September 2015 First allotments under the Offer 28 November 2014 Closing date of the Offer 1 September 2015 -- The Offer will close earlier if fully subscribed. The Boards reserve the right to close the Offer earlier and to accept Applications and issue Offer Shares at any time following the receipt of valid applications. -- The results of the Offer will be announced to the London Stock Exchange through a Regulatory Information Service provider authorised by the Financial Conduct Authority. -- Dealing is expected to commence in Offer Shares within ten business days of allotments and share and tax certificates are expected to be dispatched within 14 business days of allotments. -- The dates set out in the expected timetable above may be adjusted by the Companies, in which event details of the new dates will be notified through a Regulatory Information Service. For further information please contact: Patricia Standaloft Company Secretary 0207 710 6471 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 3 PLC via Globenewswire HUG#1866538 http://www.octopusinvestments.com
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