OAP3 Octopus Apollo Vct Plc

 
TIDMOAP3 
 
 
   Octopus Apollo VCT plc ("the "Company") 
 
   10 March 2020 
 
   Proposed Increase in Size of Offer for Subscription 
 
   Further to the announcement released by Octopus Apollo VCT plc (the 
"Company") on 10 May 2019 relating to the Company's Offer for 
Subscription to raise up to GBP30 million (GBP20 million with an 
over-allotment facility of a further GBP10 million) (the "Offer"), in 
the 2019/2020 and 2020/2021 tax years the Board of the Company announces 
today that it is proposing to increase the size of the Offer from GBP30 
million to GBP50 million (the "Offer Increase"). 
 
   Pursuant to an agreement relating to the Offer Increase between 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 by the 
      Company; 
 
   -- a further charge of up to 2.5 per cent of gross funds raised 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% per annum of the investment amounts 
      received from Direct Investors for up to nine years, provided the Direct 
      Investors continue to hold the shares. 
 
 
 
 
   For further information please contact: 
 
   Parisha Kanani 
 
   Company Secretary 
 
   020 3935 3520 
 
 
 
 
 
 

(END) Dow Jones Newswires

March 10, 2020 06:00 ET (10:00 GMT)

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