Purchase of securities by Octopus Investments Nominees Limited
11 Gennaio 2024 - 5:00PM
Purchase of securities by Octopus Investments Nominees Limited
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’) 7,840 shares of
0.1p each in the capital of the Company ("Shares"). The aggregate
cost of the Share Purchase was £5,099.37. The Share Purchase
relates to (i) allotments on 21 December 2023 pursuant to the
Company's dividend reinvestment scheme ("DRIS") in respect of
holdings in the Company's ISA product, where the apportioned
allotments to underlying shareholders will result in fractional
entitlements equal to 95 Shares that are to be included in 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 and (ii) 1,261 Shares to
be purchased at a price per Share of 66.20p to correct an
administrative issue in connection with the Company's allotment of
Shares on 21 December 2023 pursuant to the DRIS, with OINL
purchasing these Shares to ensure that the shareholder is not
disadvantaged as a result of the administrative issue and that the
shareholder will receive the same monies as if the shareholder had
participated in the relevant dividend payment and not the DRIS and
(iii) the purchase of 6,484 Shares at a price per Share of 64.80p
from a shareholder who submitted a request to sell the Shares as
part of the Company’s share buy back on 23 November 2023 (the
"November 2023 Buy Back"), but due to an administrative issue was
not included in the transaction, with OINL purchasing these Shares
to ensure that the shareholder is not disadvantaged as a result of
the administrative issue and that the shareholder will receive the
same monies as if the shareholder had participated in the November
2023 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 March
2024, 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
Grafico Azioni Octopus Titan Vct (LSE:OTV2)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Octopus Titan Vct (LSE:OTV2)
Storico
Da Apr 2023 a Apr 2024