Octopus TitanVCT PLC Disposal Of Stake In Semafone Ltd
June 29 2021 - 7:38AM
UK Regulatory
TIDMOTV2
Octopus Titan VCT plc ("Company" or "Titan")
29 June 2021
Disposal of stake in Semafone Ltd
The Board of Octopus Titan VCT plc is pleased to announce that
Semafone Ltd has been acquired by Livingbridge. The exit represents
an 8.5x return on Octopus Titan VCT plc's initial investment, and a
7.5x return on the total investment, representing an IRR of 25%.
The resulting cash proceeds attributable to Titan are not
materially different from the value at which Titan currently holds
its investment in Semafone.
Semafone provides software to contact centres so they can
collect personal data securely over various communication channels,
including telephone and chat. Titan first invested in 2010 and
participated in two further rounds of investment. Cumulatively,
Titan invested GBP3.59m in Semafone.
This demonstrates the important role that VCTs play in investing
in the people, ideas and industries that will help change the
world.
For further enquiries, please contact:
Katherine Fyfe
Octopus Company Secretarial Services Limited
020 7710 2800
(END) Dow Jones Newswires
June 29, 2021 07:38 ET (11:38 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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