Last checked at 
10 Mar 2020 10:00
Proposed Increase in Size of Offer for Subscription
Octopus Apollo VCT plc (“the “Company”)
10 March 2020
Proposed Increase in Size of Offer for Subscription
Further to the announcement released by Octopus Apollo VCT plc (the “Company") on 10 May 2019 relating to the Company's Offer for Subscription to raise up to £30 million (£20 million with an over-allotment facility of a further £10 million) (the “Offer”), in the 2019/2020 and 2020/2021 tax years the Board of the Company announces today that it is proposing to increase the size of the Offer from £30 million to £50 million (the "Offer Increase").
Pursuant to an agreement relating to the Offer Increase between 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 by the Company; a further charge of up to 2.5 per cent of gross funds raised by the Company from investors who have not invested their money through a financial intermediary (“Direct Investors”); and an additional ongoing charge of 0.5% per annum of the investment amounts received from Direct Investors for up to nine years, provided the Direct Investors continue to hold the shares.
For further information please contact:
Parisha KananiCompany Secretary020 3935 3520