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Octopus TitanVCT PLC (OTV2)

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Monday 30 March, 2020

Octopus TitanVCT PLC

Partial Utilisation of an Over-Allotment Facility, Amendment re Dates of Interim Dividend, and Temporary Suspension of Dividend Reinvestment Scheme

Partial Utilisation of an Over-Allotment Facility, Amendment re Dates of Interim Dividend, and Temporary Suspension of Dividend Reinvestment Scheme

Octopus Titan VCT plc

30 March 2020

Partial Utilisation of an Over-Allotment Facility, Amendment re Dates of Interim Dividend, and Temporary Suspension of Dividend Reinvestment Scheme

The Board has confirmed that up to £15 million of the over-allotment facility of up to £50 million may be used in relation to the Company's offer for subscription that opened on 16 September 2019 (the “Offer”). This increases the maximum amount that can be raised under the Offer to £135 million. Following the allotment on 11 March, £101m has already been allotted under the Offer.

Additionally, and further to the announcement made by the board of directors (the "Board") of Octopus Titan VCT plc (the "Company") on 10 March 2020 at 16.34 hours, the further interim dividend of 3.0p per share (the "Interim Dividend") for the period ended 31 December 2019 will now be paid on 30 April 2020 and not on 7 May 2020 as originally stated. The ex-dividend date and the record date for the Interim Dividend will now be 9 April 2020 and 14 April 2020 respectively, compared to 23 April 2020 and 24 April 2020 dates as previously announced.

The Board also announces that due to the current market conditions it has suspended its dividend reinvestment scheme with regards to the Interim Dividend.

The Company's expected timetable for further allotments under the Offer and for the next purchase of shares under the Company's buy-back policy is as follows:

Next allotment under the Offer in respect of the 2019/20 tax year and deadline for Share Buy-Backs  

3 April 2020

 
Further allotment under the Offer in respect of the 2019/2020 tax year (if required  

4 April 2020

 
First and Final allotment under the Offer in respect of the 2020/2021 tax year.  

7 April 2020

 
Share Buy-Back  

8 April 2020

 
Closing date of the Offer  

8 April 2020

 

A copy of the prospectus dated 16 September 2019 relating to the Offer has been submitted to the National Storage Mechanism and is available to the public for viewing online at the following web-site address:

http://www.morningstar.co.uk/uk/NSM

and on the Company's website:

http://www.octopusinvestments.com

For further enquiries, please contact:

Parisha Kanani, 
Company Secretary
Tel:  020 3935 3520


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