Octopus TitanVCT PLC Purchase Of Securities By Octopus Investments Nominees Limited
17 Agosto 2023 - 5:00PM
UK Regulatory
TIDMOTV2
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") (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
(END) Dow Jones Newswires
August 17, 2023 11:00 ET (15:00 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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