Publication of Prospectus
November 16 2023 - 6:30AM
Publication of Prospectus
Octopus Apollo VCT plc
Publication of Prospectus
Octopus Apollo VCT plc (the ‘Company’) has
issued a prospectus, dated 16 November 2023, relating to a proposed
offer for subscription for ordinary shares of 0.1p each in the
Company (‘New Shares’) to raise up to £35 million with an
over-allotment of up to a further £15 million (the ‘Offer’),
following the approval of the prospectus from the Financial Conduct
Authority.
Pursuant to an agreement dated 16 November 2023
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 on 5 April
2024 for the 2023/2024 tax year and on 15 November 2024 for the
2024/2025 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 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: Rachel
Peat Octopus Company Secretarial Services Limited Tel: +44 (0)80
0316 2067
LEI: 213800Y3XEIQ18DP3O53
Octopus Apollo Vct (LSE:OAP3)
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