Octopus Apollo VCT Publication Of Prospectus And Circular
September 25 2020 - 11:00AM
UK Regulatory
TIDMOAP3
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
GBP25 million with an over-allotment of up to a further GBP10 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
(END) Dow Jones Newswires
September 25, 2020 11:00 ET (15:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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