Octopus Aim Regulatory News (OOA)

23 Sep 2024 12:00

Publication of Prospectus

Octopus AIM VCT plc Publication of Prospectus

Octopus AIM VCT plc and Octopus AIM VCT 2 plc (the “Companies”) 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 (“New Shares”) to raise up to £20 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 23 September 2024 relating to the Offer between, inter alia, the Companies and Octopus Investments Limited, the Companies’ investment manager (the “Investment Manager”), which constitute related party transactions falling within UK Listing Rule 8.2.1R, the Investment Manager will receive:

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 (“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 board of each Company believes that the above arrangements are fair and reasonable as far as the shareholders of their respective Company are concerned and have been so advised by Howard Kennedy Corporate Services LLP, as sponsor to each Company.

The Offer is now open and will close on 5 April 2025 for the 2024/2025 tax year and on 22 September 2025 for the 2025/2026 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.

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