Octopus TitanVCT PLC Acquisition Of Securities By Octopus Investments Nominees Limited
08 Giugno 2023 - 10:30PM
UK Regulatory
TIDMOTV2
Octopus Titan VCT plc
Acquisition 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 acquired (the 'Share Acquisition') 94 shares of 0.1p each in
the capital of the Company. The Share Acquisition relates to
allotments pursuant to the Company's dividend reinvestment scheme
in respect of holdings in the Company's ISA product, where the
apportioned allotments to underlying shareholders resulted in
fractional entitlements equal to the 94 shares that are the subject
of the Share Acquisition, with the shareholders receiving a
monetary value in respect of the fractional entitlements and OINL
acquiring the shares pursuant to the Share Acquisition. The
aggregate cost of the Share Acquisition was GBP69.86. 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 with a downward movement to the price at which the
shares were taken on. Where there is a gain, and given the
financial risk taken on by OINL in taking on these shares, OINL
will also take any profit, however, due to costs, OINL is unlikely
to make an overall gain when selling shares back to the Company at
the next buyback, from any upward movement in NAV per share,
especially where the number of shares is smaller.
Subject to available distributable reserves and cash, and
regulations, the Company proposes to purchase, for cancellation,
these shares from OINL in accordance with its share buy back
policy, as part of the next buy back, expected to be in 19 June
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.
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
(END) Dow Jones Newswires
June 08, 2023 16:30 ET (20:30 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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