Octopus AIM VCT 2 plc Publication Of Prospectus And Circular

 
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.