14 Sep 2023 12:30
Publication of ProspectusOctopus AIM VCT plcÂ
Publication of ProspectusÂ
Octopus AIM VCT plc and Octopus AIM VCT 2 plc (the âCompaniesâ) have today issued a prospectus relating to a proposed offer for subscription for ordinary shares of 1p each in Octopus AIM VCT plc and 0.01p each in Octopus AIM VCT 2 plc (âNew Sharesâ) to raise up to ÂŁ20 million, in aggregate, with an over allotment of up to a further ÂŁ10 million, in aggregate (the âOfferâ), following the approval of the prospectus from the Financial Conduct Authority.Â
Pursuant to agreements dated 14 September 2023 relating to the Offer between the Companies and Octopus Investments Limited, the Companiesâ investment manager (the âInvestment Managerâ), which constitute smaller related party transactions within Listing Rule 11.1.10 R, the Investment Manager will receive:Â
an initial charge of 3% of the gross funds raised under the Offer by the Companies; and a further charge of up to 2.5% of gross funds raised under the Offer by the Companies from investors who have not invested their money through a financial intermediary (âDirect Investorsâ); and an additional ongoing charge of 0.5% per annum of the most recently announced net asset value multiplied by the number of New Shares allotted to Direct Investors for up to nine years, provided the Direct Investors continue to hold the New Shares.The Offer is now open and will close on 5 April 2024 for the 2023/2024 tax year and on 13 September 2024 for the 2024/2025 tax year, or earlier if the Offer is fully subscribed. The boards of the Companies reserve the right to close the Offer earlier in respect of either of the above tax years.Â
The prospectus 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 Companies' website
http://www.octopusinvestments.com
For further information please contact:
Rachel Peat
Octopus Company Secretarial Services Limited
Tel: +44 (0)80 0316 2067
LEI: 213800C5JHJUQLAFP619