Octopus T.vct Regulatory News (OTV2)

21 Oct 2020 16:30

Publication of Prospectus

Octopus Titan VCT plc (“the “Company”)

21 October 2020

Publication of Prospectus

The Company has issued a prospectus (the "Prospectus") dated 21 October 2020 relating to a proposed offer for subscription for ordinary shares of 10p each in the Company (“New Shares”) to raise up to £80,000,000 with an over-allotment of up to a further £40,000,000 (the “Offer”), following the approval of the Prospectus from the Financial Conduct Authority.

Pursuant to an agreement dated 21 October 2020 relating to the Offer between, inter alia, 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 noon on 5 April 2021 for the 2020/2021 tax year and noon on 20 October 2021 for the 2021/2022 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

For further information please contact:

Graham VenablesOctopus Company Secretarial Services Limited

020 3935 3803