25th Jun 2014 11:24
LONDON (Alliance News) - Five Octopus Titan VCTs Wednesday said they are discussing a possible merger in a move they expect would make cost savings through the establishment of one enlarged venture capital trust with GBP160.0 million in net assets.
In a joint statement, 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, proposed the launch of an offer for subscription to raise up to GBP50.0 million, with an over-allotment facility of a further GBP20.0 million, following the completion of any merger.
The VCTs said that the discussions may or may not lead to an agreement to merge the companies.
By Samuel Agini; [email protected]; @samuelagini
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