Octopus TitanVCT PLC Octopus Titan Vct Plc : Issue Of Equity, Total Voting Rights And Fundraise Update
20 December 2016 - 8:12PM
UK Regulatory
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)
Copyright (c) 2016 Dow Jones & Company, Inc.
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