Octopus TitanVCT PLC Publication Of Prospectus And Circular
14 September 2018 - 9:14PM
UK Regulatory
TIDMOTV2
Octopus Titan VCT plc ("the "Company")
14 September 2018
Publication of Prospectus and Circular
The Company has issued a prospectus and circular both dated 13 September
2018 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 13 September 2018 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 seven years, provided the Direct Investors
continue to hold the New Shares.
The Offer is now open and will close at noon on 5 April 2019 for the
2018/2019 tax year and noon on 12 September 2019 for the 2019/2020 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:
Parisha Kanani
Company Secretary
0203 935 3520
(END) Dow Jones Newswires
September 14, 2018 07:14 ET (11:14 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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