Octopus Titan VCT plc : Publication of Prospect...

Octopus Titan VCT plc ("the "Company")

23 August 2016

Publication of Prospectus and Circular

The Company has today issued a prospectus and circular relating to a proposed offer for subscription for ordinary shares of 10p each in the Company ("New Shares") to raise up to £70 million with an over allotment facility of up to a further £50 million (the "Offer"), following the approval of the prospectus from the UK Listing Authority.

Pursuant to an agreement dated 23 August 2016 relating to the Offer, between the Company and Octopus Investments Limited, the Company's investment manager (the "Investment Manager") and which constitutes a smaller related party transaction within Listing Rule 11.1.10 R, the Investment Manager will receive:

• an initial charge of 3 per cent. of the gross funds raised under the Offer by the Company; and
   
• a further charge of up to 2.5 per cent of gross funds raised under the Offer by the Company from investors who have not invested their money through a financial intermediary ("Direct Investors"); and
   
• an additional ongoing charge of 0.5% per annum of the most recently announced net asset value multiplied by the number of New Shares allotted to Direct Investors for up to nine years, provided the Direct Investors continue to hold the New Shares.

             
The Offer is now open and will close at noon on 5 April 2017 for the 2016/2017 tax year and noon on 21 August 2017 for the 2017/2018 tax year, or earlier if the Offer is fully subscribed. The board of the Company reserves the right to close the Offer earlier.

The prospectus and circular will shortly be available for inspection at the National Storage Mechanism, which is located at:

http://www.hemscott.com/nsm.do

and on the Company's website

http://www.octopusinvestments.com

For further information please contact:

Nicola Board
Company Secretary
0207 776 8663

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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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