Octopus T.vct Regulatory News (OTV2)

19 Oct 2023 12:45

Publication of Prospectus

Octopus Titan VCT plc (the “Company”)

Publication of Prospectus

The Company has issued a prospectus dated 19 October 2023 relating to a proposed offer for subscription for ordinary shares of 0.1p each in the Company (“New Shares”) to raise up to £125 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 19 October 2023 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 2 April 2024 for the 2023/2024 tax year and on 18 October 2024 for the 2024/2025 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:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

and on the Company’s website

http://www.octopusinvestments.com/titan/

For further information please contact:

Rachel Peat Octopus Company Secretarial Services Limited Tel: +44 (0)80 0316 2067

LEI: 213800A67IKGG6PVYW75