Octopus Titan VCT plc : CORRECTION - Issue of E...

OCTOPUS TITAN VCT PLC

1 May 2015

Correction to Announcement of Issue of Equity and Total Voting Rights published on 30 April 2015 at 17.49.

The only change to the previous announcement is the issued share capital and total voting rights which should be 220,768,594, not 221,418,594.

Octopus Titan VCT plc ("the Company") announces that 1,991,036 Ordinary Shares of 10p each ("shares") were issued and allotted today at a price of 103.4p per share, equivalent to the current NAV of 97.7p grossed up by up to 5.5% (as set out in the Prospectus dated 16 September 2014). These shares were issued pursuant to an Offer for Subscription to raise up to £50 million in the 2014/2015 and 2015/2016 tax years, dated 16 September 2014.   

In addition, the following issues of Ordinary Shares of 10p each in the capital of the Company were allotted on 30 April 2015:

1.  7,960 Shares in relation to a joint offer for subscription pursuant to a prospectus issued by the Company, in conjunction with Octopus Titan VCT 1 plc, Octopus Titan VCT 3 plc, Octopus Titan VCT 4 plc and Octopus Titan VCT 5 plc, dated 7 February 2013;
    
2.  14,738 Shares in relation to a joint offer for subscription pursuant to an offer document issued by the Company, in conjunction with Octopus Titan VCT 1 plc, Octopus Titan VCT 3 plc, Octopus Titan VCT 4 plc and Octopus Titan VCT 5 plc, dated 3 September 2013;
    
3.    899 Shares in relation to a joint top up offer for subscription pursuant to an offer document issued by the Company, in conjunction with Octopus Titan VCT 1 plc, Octopus Titan VCT 3 plc, Octopus Titan VCT 4 plc and Octopus Titan VCT 5 plc, dated 4 April 2014;

The Company announces that the Shares referred to in (a) to (c) above were issued and allotted at a price of 103.4p per share, equivalent to the current NAV of 97.7p grossed up by up to 5.5%, under the terms of the relevant document.  The allotments of the Ordinary Shares of 10p each in the capital of the Company were made after the close of the respective offers for subscription and relate to shares allotted as a result of reduced adviser charges in accordance with the terms and conditions of the respective offers for subscription.

Mr John Hustler, the Chairman and a director of the Company, was allotted 1,083 Ordinary Shares at a price per share of up to 103.4p and his total holdings are now 68,811, representing approximately 0.03% of the Company's issued Ordinary share capital.

Mr Matt Cooper, a director of the Company, was allotted 5,817 Ordinary Shares at a price per share of up to 103.4p and his total holdings are now 343,631, representing approximately 0.16% of the Company's issued Ordinary share capital.

Mr Mark Hawkesworth, a director of the Company, was allotted 1,004 Ordinary Shares at a price per share of up to 103.4p and his total holdings are now 54,259, representing approximately 0.03% of the Company's issued Ordinary share capital.

Mr Jo Oliver, a person discharging managerial responsibilities, was allotted 616 Ordinary Shares at a price per share of up to 103.4p and his total holdings are now 75,674 Ordinary Shares representing approximately 0.03% of the Company's issued share capital.

Mr Alexander MacPherson, also a person discharging managerial responsibilities, was allotted 2,694 Ordinary Shares at a price per share of up to 103.4p and his total holdings are now 172,172 Ordinary Shares representing approximately 0.08% of the Company's issued share capital.

Mr Simon Andrews, also a person discharging managerial responsibilities, was allotted 779 Ordinary Shares at a price per share of up to 103.4p and his total holdings are now 36,222 Ordinary Shares representing approximately 0.02% of the Company's issued share capital.

Dr Luke Hakes, also a person discharging managerial responsibilities, was allotted 242 Ordinary Shares at a price per share of up to 103.4p and his total holdings are now 10,720 Ordinary Shares representing approximately 0.01% of the Company's issued share capital.

Dr Alan Wallace, also a person discharging managerial responsibilities, was allotted 2,741 Ordinary Shares at a price per share of up to 103.4p and his total holdings are now 173,745 Ordinary Shares representing approximately 0.08% of the Company's issued share capital.

Miss Jane Vinson, also a person discharging managerial responsibilities, was allotted 750 Ordinary Shares at a price per share of up to 103.4p and her total holdings are now 35,531 Ordinary Shares representing approximately 0.02% of the Company's issued share capital.

Mr Jean-Frederic Lardieg, also a person discharging managerial responsibilities, was allotted 249 Ordinary Shares at a price per share of up to 103.4p and his total holdings are now 11,133 Ordinary Shares representing approximately 0.01% of the Company's issued share capital.

Mr William Gibbs, also a person discharging managerial responsibilities, was allotted 2 Ordinary Shares at a price per share of up to 103.4p and his total holdings are now 1,041 Ordinary Shares representing approximately 0.00% of the Company's issued share capital.

Application has been made to the London Stock Exchange for admission of the new shares. Admission is expected to become effective on or around 14 May 2015.

The issued share capital and total voting rights of the Company is now:  220,768,594.

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 plc via Globenewswire

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