Octopus TitanVCT PLC Octopus Titan Vct Plc : Publication Of Prospectus And Circular
24 August 2016 - 1:38AM
UK Regulatory
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)
Copyright (c) 2016 Dow Jones & Company, Inc.
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