Octopus Aim Regulatory News (OOA)

19 Aug 2021 13:27

Publication of Prospectus and Circular

Octopus AIM VCT plc and Octopus AIM VCT 2 plc (“the “Companies”)

 

19 August 2021

 

Publication of Prospectus and Circular

 

 

The Companies have today issued a prospectus and circular 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 (“New Shares”) to raise up to £30 million, in aggregate, with an over allotment of up to a further £10 million, in aggregate (the “Offer”), following the approval of the prospectus from the Financial Conduct Authority.

 

Pursuant to agreements dated 19 August 2021 relating to the Offer between the Companies and Octopus Investments Limited, the Companies’ investment manager (the “Investment Manager”), which constitute smaller related party transactions within Listing Rule 11.1.10 R, the Investment Manager will receive:

 

an initial charge of 3 per cent of the gross funds raised under the Offer by the Companies; and a further charge of up to 2.5 per cent of gross funds raised under the Offer by the Companies 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 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 at noon on 5 April 2022 for the 2021/2022 tax year and noon on 18 August 2022 for the 2022/2023 tax year, or earlier if the Offer is fully subscribed. The boards of the Companies reserve 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 Companies' website

http://www.octopusinvestments.com

For further information please contact:

 

Uloma Adighibe

Octopus Company Secretarial Services Limited

Tel: 020 3935 4186