Last checked at 
17 Aug 2023 16:00
Purchase of securities by Octopus Investments Nominees LimitedOctopus Titan VCT plc
Purchase of securities by Octopus Investments Nominees Limited
Octopus Titan VCT plc (‘the Company’) announces that Octopus Investments Nominees Limited ("OINL"), part of the Octopus Group, has purchased (the "Share Purchase") (i) 71,958 shares of 0.1p each in the capital of the Company ("Shares") at a price per Share of 70.3p from shareholders who submitted requests to sell their Shares as part of previous share buy backs by the Company (the "Buy Backs"), but due to administrative issues were not included in the Buy Backs (OINL will purchase these Shares to ensure that these shareholders are not disadvantaged as a result of the administrative issues and these shareholders will receive the same monies as if they had participated in the Buy Backs) and (ii) 9,054 Shares at a price per Share of 73.9036p and 2,104 Shares at a price per Share of 73.9192p to correct administrative issues in connection with allotments by the Company pursuant to its dividend reinvestment scheme ("DRIS") (OINL will purchase these Shares to ensure that these shareholders are not disadvantaged as a result of the administrative issues and these shareholders will receive the same monies as if they had received the dividends).
Subject to available distributable reserves and cash, and regulations, the Company proposes to purchase, for cancellation, the Shares from OINL in accordance with its share buy back policy, as part of the next buy back expected to be in October 2023, at a price reflecting a discount of up to 5 per cent of the then latest published net asset value per share in accordance with the terms of its stated buy back policy.
Where OINL takes on the risk or benefit of movements in the Company’s net asset value (‘NAV’), such as in this instance, OINL will always take on any loss arising from a downward movement relative to the price at which the Shares were acquired. Where there is a gain, given the financial risk taken on by OINL in acquiring these Shares, OINL will also take any profit.
These arrangements constitute a smaller related party transaction under Listing Rule 11.1.10R.
For further enquiries, please contact:
Rachel Peat
Octopus Company Secretarial Services Limited
Tel: +44 (0)80 0316 2067
LEI: 213800A67IKGG6PVYW75