OOA Octopus Aim Vct Plc

 
TIDMOOA 
 

Octopus AIM VCT plc

Publication of Prospectus

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 GBP20 million, in aggregate, with an over allotment of up to a further GBP10 million, in aggregate (the "Offer"), following the approval of the prospectus from the Financial Conduct Authority.

Pursuant to agreements dated 22 September 2022 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 2023 for the 2022/2023 tax year and on 21 September 2023 for the 2023/2024 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://www.globenewswire.com/Tracker?data=5o2GFaDhtQBuQ13iH8JiaJqs88-v1CiuRkxdD25uIkHAT6vXXd_0HNctkgO2CWvi7W5LpQEHZCoKlx5k3tWJXwaIhjXM-V0hO3btFXFW8HskQb941QKdKe7yUmphF-BWS58OFY4OQc7BjkPWqGjhbyNTBOFHw5QyCClp4dxSqrFcAjx0mx-lHJCsGDVP6ovO https://data.fca.org.uk/#/nsm/nationalstoragemechanism

and on the Companies' website

https://www.globenewswire.com/Tracker?data=5o2GFaDhtQBuQ13iH8JiaCICX_qk_wMIO0ZyCBT6-8WsbHqukIvT2S4OqJUQHZCXSRBp0dkq21_ZVMCfweu0UNIbPaENJ2M0JvnXpERXiHJSqPvoFfpVL8FP5ehGbOsn http://www.octopusinvestments.com

For further information please contact:

Rachel Peat

Octopus Company Secretarial Services Limited

Tel: +44 (0)80 0316 2067

LEI: 213800C5JHJUQLAFP619

(END) Dow Jones Newswires

September 22, 2022 06:46 ET (10:46 GMT)

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