Octopus Titan VCT plc (“the “Company”)
10 November 2022
Publication of Prospectus
The Company has issued a prospectus dated 10 November 2022 relating to a proposed offer for subscription for ordinary shares of 0.1p each in the Company (“New Shares”) to raise up to £175 million with an over-allotment of up to a further £75 million (the “Offer”), following approval from the Financial Conduct Authority.
Pursuant to an agreement dated 10 November 2022 relating to the Offer between the Company and Octopus Investments Limited (the “Portfolio Manager”), the Company’s portfolio manager, which constitutes a smaller related party transaction within Listing Rule 11.1.10 R, the Portfolio 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 seven years, provided the Direct Investors continue to hold the New Shares.
The Offer is now open and will close at 5.00 pm on 31 March 2023 for the 2022/2023 tax year and on 9 November 2022 for the 2023/2024 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 will shortly be available for inspection at the National Storage Mechanism, which is located at:
and on the Company’s website
For further information please contact:
Octopus Company Secretarial Services Limited
Tel: +44 (0)80 0316 2067