Octopus Ap Regulatory News (OAP3)

25 Sep 2020 16:00

Publication of Prospectus and Circular

Octopus Apollo VCT plc (“the “Company”)

25 September 2020

Publication of Prospectus and Circular

The Company has issued a prospectus and circular, both dated 25 September 2020, relating to a proposed offer for subscription for ordinary shares of 10p each in the Company (“New Shares”) to raise up to £25 million with an over-allotment of up to a further £10 million (the “Offer”), following the approval of the prospectus from the Financial Conduct Authority.

Pursuant to an agreement dated 25 September 2020 relating to the Offer 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; and a 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”); and an 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 New Shares.

The Offer is now open and will close at noon on 5 April 2021 for the 2020/2021 tax year and noon on 24 September 2021 for the 2021/2022 tax year, or earlier if the Offer is fully subscribed. The board of the Company reserves the right to close the Offer earlier.

The prospectus and circular will shortly be available for inspection at the National Storage Mechanism, which is located at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

and on the Company’s website

http://www.octopusinvestments.com

For further information please contact:

Graham Venables Octopus Company Secretarial Services Limited 020 3935 3803