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

OCTOPUS TITAN VCT PLC

20 December 2016

Issue of Equity, Total Voting Rights and Fundraise Update

Octopus Titan VCT plc (the "Company") announces that 56,927,819 Ordinary Shares of 10p each ("shares") were issued and allotted on 16 December 2016 at a price of 103.6p per share, equivalent to the current NAV of 97.9p grossed up by 5.5% (as set out in the Prospectus dated 23 August 2016).

These shares were issued pursuant to an Offer for Subscription to raise up to £70 million, with an over allotment facility of £50 million, in the 2016/2017 and 2017/2018 tax years, dated 23 August 2016.

Following Friday's allotment, the issued share capital and total voting rights of the Company are now 379,545,501 and the unaudited net assets of the Company are approximately £371 million, based on a NAV per share of 97.9p.

The Board and the Manager believe that the success of the fundraising to date will provide the Manager with flexibility to invest in the exciting pipeline of new opportunities and to also support existing investee companies.

Included within yesterday's allotment were the following:

Mr John Hustler, a director of the Company, was allotted 10,375 Ordinary Shares at a price per share of 103.6p and his total holdings are now 82,178, representing less than 0.1% of the Company's issued Ordinary share capital.

Mr Mark Hawkesworth, a director of the Company, was allotted 10,375 Ordinary Shares at a price per share of 103.6p and his total holdings are now 75,685, representing less than 0.1% of the Company's issued Ordinary share capital.

Mrs Jane O'Riordan, a director of the Company, was allotted 10,375 Ordinary Shares at a price per share of 103.6p and her total holdings and those of the persons closely associated with her are now 55,412, representing less than 0.1% of the Company's issued Ordinary 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 4th January 2017.

For further information please contact:

Nicola Board
Company Secretary
0207 776 8663

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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