Octopus Titan VCT 2 PLC : Issue of Equity, Clos...

OCTOPUS TITAN VCT 2 PLC

18 April 2014

Issue of Equity, Closure of Offers and Total Voting Rights

Octopus Titan VCT 2 plc ("the Company") announces a final allotment of ordinary shares of 10p each in the capital of the Company ("Shares") pursuant to an offer for subscription arising from a Prospectus that was issued on 3 September 2013 (the "Prospectus Offer") and a further offer for subscription that was launched on 4 April 2014 (the "Further Offer"), each relating to an offer for subscription for Shares in the 2013/2014 and 2014/2015 tax years (the Prospectus Offer and the Further Offer together the "Offers"). 

As previously announced, the Company had indicated that an allotment of Shares under the Offers for the 2014/15 tax year would take place on 30 April 2014. However, the Board of the Company decided to postpone the allotment and issue of further Shares under the Offers until there was certainty as to whether the allotment and issue could be made under all of the terms of the Offers without contravening the VCT rules as contained in the Finance Bill 2014.  This uncertainty has now been fully resolved following discussions with HMRC.

Accordingly, the Company announces that on 17 June 2014, 227,865 Shares were issued and allotted under the Prospectus Offer and 547,500 Shares were issued and allotted under the Further Offer at the 30 April 2014 valuation and at a price of 97.6p  per Share. 

The Company confirms the allotment and issue of 6,504 Ordinary Shares of 10p each at a price of 93.6p to shareholders who elected to receive Ordinary Shares under the Dividend Reinvestment Scheme as an alternative for the final dividend for the year ended 31 October 2013.

Application has been made to the London Stock Exchange for admission of the new shares. Admission is expected to become effective on or around 1 July 2014.

The Offers are now closed.

The issued share capital and total voting rights of the Company is now:  32,560,048 Ordinary Shares.

For further information please contact:

Patricia Standaloft
Company Secretary
0207 710 6471

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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 2 PLC via Globenewswire

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