Octopus Titan VCT 4 Octopus Titan Vct 4 Plc : Possible Merger Between Octopus Titan Vct 1 Plc, Octopus Titan Vct 2 Plc, Octop...
June 25 2014 - 5:01AM
UK Regulatory
TIDMOTV4
Octopus Titan VCT 1 Plc
Octopus Titan VCT 2 Plc
Octopus Titan VCT 3 Plc
Octopus Titan VCT 4 Plc
Octopus Titan VCT 5 Plc
Together "the Companies"
25 June 2014
Possible merger between Octopus Titan VCT 1 Plc, Octopus Titan VCT 2 Plc,
Octopus Titan VCT 3 Plc, Octopus Titan VCT 4 Plc and Octopus Titan VCT 5
Plc ("Companies")
The board of directors of the Companies announce that they have entered
into discussions regarding a possible merger of the Companies
("Merger"). These discussions may or may not lead to an agreement to
merge the Companies. If the Merger is to proceed the current intention
is that it will proceed by way of a scheme of reconstruction under the
Insolvency Act 1986 which, on this basis, would be outside the
provisions of The City Code on Takeovers and Mergers.
If the Merger proceeds it would be expected to achieve cost savings
through the establishment of one enlarged VCT with net assets of
approximately GBP160 million.
Following completion of the Merger, it is proposed to launch an offer
for subscription to raise up to GBP50 million with an overallotment
facility of a further GBP20 million.
A further announcement will be made in due course.
For additional information, please contact:
Patricia Standaloft
Company Secretary
0207 710 6471
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Octopus Titan VCT 4 PLC via Globenewswire
HUG#1802235
http://www.octopusinvestments.com
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