Publication of Prospectus
22 September 2022 - 8:47PM
Publication of Prospectus
Octopus AIM VCT
2 plc
Publication of Prospectus
The Companies have today issued a prospectus
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, in aggregate, with
an over allotment of up to a further £10 million, in aggregate (the
“Offer”), following the approval of the prospectus from the
Financial Conduct Authority.
Pursuant to agreements dated 22 September 2022
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% of the
gross funds raised under the Offer by the Companies; and
- a further charge of up to 2.5% 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 on 5 April
2023 for the 2022/2023 tax year and on 21 September 2023 for the
2023/2024 tax year, or earlier if the Offer is fully subscribed.
The boards of the Companies reserve the right to close the Offer
earlier in respect of either of the above tax years.
The prospectus 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:
Rachel PeatOctopus Company Secretarial Services Limited Tel: +44
(0)80 0316 2067
LEI: 213800BW27BKJCI35L17
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