Octopus AIM VCT PLC : New Share Offers and Issu...

Octopus AIM VCT PLC : New Share Offers and Issue of New Share Offer Document

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

6 February 2017

New Share Offers and Issue of New Share Offer Document

The Boards of Octopus AIM VCT plc and Octopus AIM VCT 2 plc (the "Companies") are pleased to announce that the Companies have today launched new share offers (the "Offers") to raise up to £4.3 million each in the 2016/2017 and 2017/2018 tax years.  Full details of the Offers are contained in an offer document (the "Offer Document") issued by the Companies, dated 6 February 2017.

The Offers open on 6 February 2017 and will close at 12 noon on 31 July 2017 unless fully subscribed at an earlier date.

Pursuant to the Offers, Octopus Investments Limited, the Companies' investment manager, will receive:

  • an initial charge of 3 per cent. of the gross funds raised under the Offers by the Companies; and
     
  • a further charge of up to 2.5 per cent of gross funds raised under the Offers 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 shares in the Companies allotted under the Offers ("New Shares") to Direct Investors for up to nine years, provided the Direct Investors continue to hold the New Shares.

The above arrangements constitute smaller related party transactions within Listing Rule 11.1.10R.

The Offer Document 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




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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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