Octopus Titan VCT 2 PLC : Offer for subscriptio...

Octopus Titan VCT 2 Plc

Offer for subscription update and change to buyback policy

On 10 December 2012 Octopus Titan VCT 1 Plc, Octopus Titan VCT 2 Plc, Octopus Titan VCT 3 Plc, Octopus Titan VCT 4 Plc and Octopus Titan VCT 5 Plc ("Company/ies") announced proposals to launch a new fundraising in 2013 by way of an offer for subscription for new ordinary shares ("Offer(s)").

Subject to regulatory and shareholder approval, the Companies are pleased to announce further terms of the Offers.

It is intended that the Offers will be launched towards the end of January/early February and subscriptions will be available for both the tax years 2012/13 and 2013/14. 

The Offers will be for up to £30m split equally between the Companies, with an over allotment facility of a further £10m.  The subscription price will be based on the most recently published NAV (adjusted for the cost of the Offer), immediately prior to allotment.

Further, the Company will be changing its buy back policy so that shares will be bought at a 5% discount to the prevailing net asset value (previously 10%).

For further information please contact:

Patricia Standaloft
Company Secretary
020 7710 6471

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Source: Octopus Titan VCT 2 PLC via Thomson Reuters ONE

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