Octopus Aim 2 Regulatory News (OSEC)

14 Sep 2023 12:30

Publication of Prospectus

Octopus AIM VCT 2 plc 

Publication of Prospectus 

Octopus AIM VCT 2 plc and Octopus AIM VCT 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 14 September 2023 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% 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 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. 

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: 213800BW27BKJCI35L17