Octopus Titan VCT plc : Issue of Equity, Total ...

OCTOPUS TITAN VCT PLC

22 March 2016

Issue of Equity, Total Voting Rights and Intention to Increase the Size of the Offer

Octopus Titan VCT plc (the "Company") announces that 18,663,974 Ordinary Shares of 10p each ("shares") were issued and allotted today at a price of 108.7p per share, equivalent to the current NAV of 102.7p grossed up by 5.5% (as set out in the Prospectus dated 8 September 2015). These shares were issued pursuant to an Offer for Subscription to raise up to £50 million, with an over allotment facility of £30 million, in the 2015/2016 and 2016/2017 tax years, dated 8 September 2015.  To date the Company has raised in excess of £60 million under the current Offer.

The Company also announces the allotment and issue of 2,809 Ordinary Shares of 10p each at a price of 95.7p to shareholders who elected to receive Ordinary Shares under the Dividend Reinvestment Scheme as an alternative to the interim dividend for the year ending 31 October 2015 which was paid to shareholders on 24 July 2015. 
Included within the allotment were the following:
Mr Christopher Wade, a person discharging managerial responsibilities, was allotted 19,778 Ordinary Shares at a price per share of 108.7p and his total holdings are now 19,778 representing less than 0.1% of the Company's issued Ordinary share capital.

Following today's allotments, the issued share capital and total voting rights of the Company are now 278,633,009 and the unaudited net assets of the Company are approximately £286 million, based on a NAV per share of 102.7p.

Application has been made to the London Stock Exchange for admission of the new shares. Admission is expected to become effective on or around 5 April 2016.

In addition, due to exceptional investor demand combined with visibility of a strong investment pipeline, the Directors have decided to increase the Offer by £20 million, to £100 million.

For further information please contact:

Nicola Board
Company Secretary
020 7776 8663

---

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

HUG#1996928