Publication of Prospectus
19 October 2023 - 10:45PM
Publication of Prospectus
Octopus Titan VCT plc (the
“Company”)
Publication of Prospectus
The Company has issued a prospectus dated 19
October 2023 relating to a proposed offer for subscription for
ordinary shares of 0.1p each in the Company (“New Shares”) to raise
up to £125 million with an over-allotment of up to a further £75
million (the “Offer”), following approval from the Financial
Conduct Authority.
Pursuant to an agreement dated 19 October 2023
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 5.00 pm on
2 April 2024 for the 2023/2024 tax year and on 18 October 2024 for
the 2024/2025 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 will shortly be available for
inspection at the National Storage Mechanism, which is located
at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
and on the Company’s website
http://www.octopusinvestments.com/titan/
For further information please contact:
Rachel Peat Octopus Company Secretarial Services
Limited Tel: +44 (0)80 0316 2067
LEI: 213800A67IKGG6PVYW75
Octopus Titan Vct (LSE:OTV2)
Historical Stock Chart
From Apr 2024 to May 2024
Octopus Titan Vct (LSE:OTV2)
Historical Stock Chart
From May 2023 to May 2024