Octopus Titan VCT 2 PLC : Postponement of Issue...

Octopus Titan VCT 1 Plc

Octopus Titan VCT 2 Plc

Octopus Titan VCT 3 Plc

Octopus Titan VCT 4 Plc

Octopus Titan VCT 5 Plc

Together "the Companies"

30 May 2014

Postponement of Issue of Equity and Extension of Closure Date of Further Offer for Subscription

Postponement of Issue of Equity

The Companies announce that further to the announcements made on 28 April 2014 in regard to the postponement of the allotment of Shares under the Combined New Share Offer arising from the Prospectus dated 3 September 2013 (the "Offer for Subscription") and a further Combined New Share Offer in the 2013/2014 and 2014/2015 tax years (the "Further Offer for Subscription"), (the Offer for Subscription and the Further Offer for Subscription together the "Offers") there continues to be uncertainty as to whether the allotment and issue of Shares can be made under all of the terms of the Offers without contravening the new rules published in the Finance Bill 2014. 

The Directors of the Companies have decided to postpone the allotment and issue of further Shares under the Offers for the 2014/15 tax year again and until such time as the Directors believe that there is no ambiguity around the issue of equity.

Application monies received under the Offers in respect of the 2014/15 tax year will continue to be held in the Companies' Offer account pending the decision as to when the allotment and issue of Shares can be made under all of the terms of the Offers.

Further announcements will be made at such time as the Directors believe that there is certainty whether the allotment and issue of Shares can be made under all of the terms of the Offers without contravening the new rules, and in any event prior to 30 June 2014.

Closure Date of Further Offer for Subscription

Further, the closure date of the Further Offer for Subscription will be extended to 30 June 2014, subject to the Directors reserving the right prior to 30 June 2014 to make a further extension, to allow for the allotment and issue of Shares under the Further Offer for Subscription but no further applications under the Further Offer for Subscription are being accepted.

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

HUG#1789715