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

 
TIDMOTV2 
 
 
   Octopus Titan VCT plc ("the "Company") 
 
   5 September 2017 
 
   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 GBP120 million with an over 
allotment of up to a further GBP80 million (the "Offer"), following the 
approval of the prospectus from the UK Listing Authority. 
 
   Pursuant to an agreement dated 5 September 2017 relating to the Offer 
between the Company and Octopus Investments Limited (the "Portfolio 
Manager"), the Company's portfolio manager, which constitutes a smaller 
related party transaction within Listing Rule 11.1.10 R, the Portfolio 
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 4 April 2018 for the 
2017/2018 tax year and noon on 4 September 2018 for the 2018/2019 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.morningstar.co.uk/uk/NSM 
 
   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 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

September 05, 2017 09:00 ET (13:00 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.