OTV2 Octopus Titan VCT

Net Asset Value(s)

Net Asset Value(s)

Octopus Titan VCT plc

3 April 2020

Net asset value

The Board of Octopus Titan VCT Plc (‘the Company’) has continued to monitor the ongoing Coronavirus pandemic developments and, in particular, the impact of the associated economic disruption on portfolio companies.

The Board has reviewed the portfolio and announces that the Net Asset Value (‘NAV’) at 2 April 2020 is 91.0p per share, which will be used for both the allotments on 3, 4 and 7 April 2020 and the Share Buy Back on 8 April 2020. This NAV change reflects valuation adjustments across the portfolio, which is carried at fair value, including those resulting from conditions arising from the Coronavirus pandemic, as advised by the Investment Manager and approved by the Board.

The Board has previously declared an interim dividend of 3p per share to shareholders on the register on 14 April 2020.

Supporting our portfolio companies

The Investment Manager is working closely with all of the portfolio companies and continues to provide them with operational support and advice, including measures to mitigate the impact of the current trading conditions. The Company expects to have over £300 million held in cash and cash equivalents, following the allotments of shares referred to above, available to provide further funding to the portfolio companies and to make new investments.  

Further information regarding the impact of Coronavirus on the Company and its portfolio companies can be found on the website at:

The Company is satisfied that all inside information which the Directors and the Company may have, has been and will be notified to a Regulated Information Service and, therefore, the Company is not prohibited from dealing in its own securities.

The Offer by the Company will close on 8 April 2020.

For further information please contact:

Parisha Kanani, 

Company Secretary

Tel:  020 3935 3520

EN
03/04/2020

Underlying

OTV2Octopus Titan VCT

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