Publication of the Prospectus
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Octopus AIM VCT plc
Publication of the Prospectus
The Companies have today published a prospectus relating to a proposed offer to subscribe 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 by the Financial Conduct Authority .
Pursuant to the agreements dated 22 September 2022 relating to the Offer between the Companies and Octopus Investments Limited, the investment manager of the Companies (the “Investment Manager”), which constitute smaller related party transactions within the meaning of Listing Rule 11.1.10 R, the Investment Manager will receive:
- an entry fee of 3% of the gross funds raised within the framework of the Offer by the Companies; and
- an additional charge of up to 2.5% of the gross funds raised under the Offering by the Companies from investors who have not invested their money through a financial intermediary (“Investors direct”); and
- an additional ongoing charge of 0.5% per annum of the last announced net asset value multiplied by the number of New Shares allocated to the Direct Investors for up to nine years, provided that the Direct Investors continue to hold the New Shares.
The Offer is now open and will close on April 5, 2023 for tax year 2022/2023 and September 21, 2023 for tax year 2023/2024, or earlier if the Offer is fully subscribed. The Boards of Directors of the Companies reserve the right to close the Offer earlier for any of the above fiscal years.
The prospectus will soon be available for consultation 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 more information, please contact:
Rachel Peat
Octopus Limited Secretarial Services
Tel: +44 (0)80 0316 2067
LEI: 213800C5JHJUQLAFP619
