20 October 2022
Octopus Apollo VCT plc
Publication of Prospectus
The Company has issued a prospectus, dated 20 October 2022, relating to a proposed offer for subscription for ordinary shares of 0.1p each in the Company (“New Shares”) to raise up to £35 million with an over-allotment of up to a further £15 million (the “Offer”), following the approval of the prospectus from the Financial Conduct Authority.
Pursuant to an agreement dated 14 October 2022 relating to the Offer between, inter alia, 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 under the Offer by the Company; and
- a further charge of up to 2.5 per cent of gross funds raised under the Offer 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% of the net asset value of the investment amount received by the Company under the Offer from Direct Investors, payable 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 19 October 2023 for the 2023/2024 tax year, or earlier if the Offer is fully subscribed. The board of the Company reserves the right to close the Offer earlier.
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 Company’s website
http://www.octopusinvestments.com
For further information please contact:
Rachel Peat
Octopus Company Secretarial Services Limited
Tel: +44 (0)80 0316 2067
LEI: 213800Y3XEIQ18DP3O53
