REG-Octopus Titan VCT plc : Change of Investment Manager <Origin Href="QuoteRef">OTV2.L</Origin>

Octopus Titan VCTAnnouncement

04/09/2017 09:25

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Octopus Titan VCT plc ("the "Company")

4 September 2017

Investment Management Arrangements

The Company is classified by the Financial Conduct Authority as an alternative
investment fund (an "AIF"). Under the Alternative Investment Fund Management
Directive (the "AIFM Directive"), member states are required to ensure that
each AIF managed within the scope of the AIFM Directive has a single
alternative investment fund manager (an "AIFM") responsible for ensuring
compliance with the AIFM Directive. An AIFM must provide, at a minimum,
portfolio management and risk management services to one or more AIFs as its
regular business irrespective of where the AIFs are located or what legal form
the AIFM takes. 

AIFMs that manage AIFs whose assets under management ("AUM") do not meet the
size criteria set out in the AIFM Directive ("sub-threshold") will not be
subject to the full requirements of the AIFM Directive.   Whilst the Company
is presently considered to be a sub-threshold AIFM, future fundraisings may
mean this threshold is exceeded. Therefore, Octopus AIF Management Limited,
which is a full scope alternative investment fund manager, has been appointed
as the Company's fund manager and the current investment management agreement
between the Company and Octopus Investments Limited ("OIL") has been assigned
by way of the deed of novation from OIL to Octopus AIF (the "Assignment"), and
subsequently amended and restated by way of a deed of variation and
restatement in order to reflect Octopus AIF's status as a full scope AIFM.
Pursuant to a sub-management agreement (the "Sub-Management Agreement")
between Octopus AIF and OIL, OIL continues to provide portfolio management
services to the Company and pursuant to a depositary agreement BNP Paribas
provides depositary services to the Company.

As a result of the Assignment and the Sub-Management Agreement, the personnel
managing the Company's portfolio, and the investment management fee payable by
the Company, remain unchanged.
            
For further information please contact:

Nicola Board
Company Secretary
0207 776 8663
This announcement is distributed by Nasdaq Corporate Solutions on behalf of
Nasdaq 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 plc via Globenewswire