Octopus Ap Regulatory News (OAP3)

22 Sep 2021 12:26

Octopus Apollo VCT plc

22 September 2021

Amendment to an Investment Management Agreement

The Board of Octopus Apollo VCT plc (the “Company") announces a variation (the "Variation") to the investment management agreement dated 27 July 2006, as subsequently varied, between the Company and Octopus Investments Limited, the Company's investment manager (the "Manager"), pursuant to which the Manager provides discretionary investment management and administration services to the Company.

Prior to the Variation, the Manager received an annual management fee (the "Management Fee") of an amount equal to 2% of the net asset value ("NAV") of the Company and an administration fee (the "Administration Fee") of an amount equal to 0.3% of the NAV, calculated on a daily basis using the Company's NAV per share at the previous year end and multiplying this by the daily number of shares in issue. As a result of the Variation, with effect from 1 February 2021, the Management Fee and the Administration Fee will be calculated using the latest published NAV.

The Variation constitutes a smaller related party transaction within Listing Rule 11.1.10 R.

For further information please contact:

Katherine Fyfe Octopus Company Secretarial Services Limited Tel: 020 7710 280