Purchase of securities by Octopus Investments Nominees Limited

17 Jul 2023 17:00

Octopus 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’) 197,605 shares of 0.1p each in the capital of the Company (‘Shares’). The aggregate cost of the Share Purchase was £138,916. The Shares were purchased at a price per Share of 70.3p from shareholders who submitted requests to sell the Shares as part of the Company’s share buy back on 19 June 2023 (the ‘Share Buy Back’), but due to administrative issues were unable to be included in the Share Buy Back. OINL has purchased 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 Share Buy Back.

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