Octopus AIM VCT PLC and Octopus AIM VCT 2 PLC ...

Octopus AIM VCT plc and Octopus AIM VCT 2 plc ("the "Companies")

21 December 2015
 
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 £20 million with an over allotment of up to a further £10 million (the "Offer"), following the approval of the prospectus from the UK Listing Authority.
 
Pursuant to agreements dated 21 December 2015 relating to the Offer between the Companies and Octopus Investments Limited (the "Investment Manager"), the Companies' 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 2016 for the 2015/2016 tax year and noon on 1 December 2016 for the 2016/2017 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/NSM
 
and on the Companies website
 
http://www.octopusinvestments.com
 
 
For further information please contact:
 
Nicola Board
Company Secretary
020 7776 8663 

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Octopus AIM VCT PLC via Globenewswire

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