OTV2 Octopus Titan Vct Plc

 
TIDMOTV2 
 
 
   Octopus Titan VCT plc ("the "Company") 
 
   16 September 2019 
 
   Publication of Prospectus and Circular 
 
   The Company has issued a prospectus and circular both dated 16 September 
2019 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 GBP50 million (the "Offer"), 
following the approval of the prospectus from the Financial Conduct 
Authority. 
 
   Pursuant to an agreement dated 16 September 2019 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 2020 for the 
2019/2020 tax year and noon on 15 September 2020 for the 2020/2021 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 
 
   https://www.globenewswire.com/Tracker?data=q6KmJCY4lr8SEmbJkmzCALmeLj65WEMYq1Gnd_pXNyUWkf7iovnrQEeQWfIpyi6PPetAbQvhpjiIJBGECIRsoRGY3mTYPmpw_NnMjosyo2I0WqYGCwENpwdpULPHbH49uhzdYMdO8E4Dt23qVWh3cVX4nvmIu3-aWnvXWuIn4mwYeIzgl-yPEU8ruQBvaavbGk9ttHaGlyDybJv5d8ftGYpZ8w1IvEVyrB7oC5PLS-MjplckzubroniAutUt3A0pCQ3ODGeOYsiPz8POCHqkbyoyCeR0aXu0OIyR0LLwxhlmMLvNQyvLQyLmZY6RWKqP 
https://octopusinvestments.com/investor/investor-centre/document-library/octopus-titan-vct-prospectus/ 
 
 
   For further information please contact: 
 
   Parisha Kanani 
 
   Company Secretary 
 
   020 3935 3520 
 
 
 
 

(END) Dow Jones Newswires

September 16, 2019 12:00 ET (16:00 GMT)

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