Octopus TitanVCT PLC Octopus Titan Vct Plc : Publication Of Prospectus And Circular
September 05 2017 - 9:00AM
UK Regulatory
TIDMOTV2
Octopus Titan VCT plc ("the "Company")
5 September 2017
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 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 5 September 2017 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 nine years, provided the Direct Investors
continue to hold the New Shares.
The Offer is now open and will close at noon on 4 April 2018 for the
2017/2018 tax year and noon on 4 September 2018 for the 2018/2019 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:
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
September 05, 2017 09:00 ET (13:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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