Last checked at 
5 Apr 2023 16:00
Proposed Increase in Size of Offer for Subscription and Re-Opening of Offer for Subscription to Further ApplicationsOCTOPUS APOLLO VCT PLC
Proposed Increase in Size of Offer for Subscription and Re-Opening of Offer for Subscription to Further Applications
Further to the announcement released by Octopus Apollo VCT plc (the 'Company') on 3 February 2023 relating to the Company's offer for subscription to raise up to £50 million (£35 million with an over-allotment facility of a further £15 million) in the 2022/2023 and 2023/2024 tax years (the 'Offer'), the Company is pleased to announce that it intends, due to strong investment opportunity and investor demand, to increase the size of the Offer from £50 million to £90 million in the 2023/2024 tax year (the 'Offer Increase') and to reopen the Offer to further applications on 18 April 2023.
Pursuant to an agreement relating to the Offer Increase between inter alia, the Company and Octopus Investments Limited, the Company’s investment manager (the 'Manager'), which constitutes a smaller related party transaction within Listing Rule 11.1.10 R, the Manager will receive:
an initial charge of 3 per cent. of the gross funds raised under the Offer by the Company; anda further charge of up to 2.5 per cent of gross funds raised under the Offer by the Company from investors who have not invested their money through a financial intermediary ('Direct Investors'); andan additional ongoing charge of 0.5% of the net asset value of the investment amount received by the Company under the Offer from Direct Investors, payable for up to nine years, provided the Direct Investors continue to hold the shares subscribed for under the Offer.For further enquiries, please contact:
Rachel PeatOctopus Company Secretarial Services LimitedTel: +44 (0)80 0316 2067
LEI: 213800Y3XEIQ18DP3O53