Publication of Prospectus and Circular
Octopus AIM VCT plc and Octopus AIM VCT 2 plc (“the “Companies”)29 November 2019Publication of Prospectus and CircularThe 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 £20 million with an over allotment of up to a further £10 million (the “Offer”), following the approval of the prospectus from the Financial Conduct Authority.Pursuant to agreements dated 29 November 2019 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 2020 for the 2019/2020 tax year and noon on 28 November 2020 for the 2020/2021 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:http://www.morningstar.co.uk/uk/NSMand on the Companies’ websitehttp://www.octopusinvestments.comFor further information please contact:Graham Venables
Octopus Company Secretarial Services Limited
020 3935 3803
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 2020 for the 2019/2020 tax year and noon on 28 November 2020 for the 2020/2021 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:http://www.morningstar.co.uk/uk/NSMand on the Companies’ websitehttp://www.octopusinvestments.comFor further information please contact:Graham Venables
Octopus Company Secretarial Services Limited
020 3935 3803
