Octopus AIM VCT 2 plc Publication Of Prospectus And Circular
August 20 2020 - 10:30AM
UK Regulatory
TIDMOSEC
Octopus AIM VCT plc and Octopus AIM VCT 2 plc ("the "Companies")
20 August 2020
Publication of Prospectus and Circular
The 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 GBP20 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 agreements dated 20 August 2020 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 2021 for the
2020/2021 tax year and noon on 19 August 2021 for the 2021/2022 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:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
and on the Companies' website
http://www.octopusinvestments.com
For further information please contact:
Graham Venables
Octopus Company Secretarial Services Limited
020 3935 3803
(END) Dow Jones Newswires
August 20, 2020 11:30 ET (15:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Octopus Aim Vct 2 (LSE:OSEC)
Historical Stock Chart
From Apr 2024 to May 2024
Octopus Aim Vct 2 (LSE:OSEC)
Historical Stock Chart
From May 2023 to May 2024