OTV2 Octopus Titan Vct Plc

 
TIDMOTV2 
 

Octopus Titan VCT plc ("Company" or "Titan")

29 June 2021

Disposal of stake in Semafone Ltd

The Board of Octopus Titan VCT plc is pleased to announce that Semafone Ltd has been acquired by Livingbridge. The exit represents an 8.5x return on Octopus Titan VCT plc's initial investment, and a 7.5x return on the total investment, representing an IRR of 25%. The resulting cash proceeds attributable to Titan are not materially different from the value at which Titan currently holds its investment in Semafone.

Semafone provides software to contact centres so they can collect personal data securely over various communication channels, including telephone and chat. Titan first invested in 2010 and participated in two further rounds of investment. Cumulatively, Titan invested GBP3.59m in Semafone.

This demonstrates the important role that VCTs play in investing in the people, ideas and industries that will help change the world.

For further enquiries, please contact:

Katherine Fyfe

Octopus Company Secretarial Services Limited

020 7710 2800

(END) Dow Jones Newswires

June 29, 2021 07:38 ET (11:38 GMT)

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