Octopus Eclipse VCT Octopus Eclipse Vct Plc : Possible Merger Between Octopus Apollo Vct Plc And Octopus Eclipse Vct Plc
September 27 2016 - 10:15AM
UK Regulatory
TIDMOEC1 TIDMOAP3
Octopus Apollo VCT PLC
Octopus Eclipse VCT PLC
Together "the Companies"
27 September 2016
Possible merger between Octopus Apollo VCT PLC and Octopus Eclipse VCT
PLC
The boards of directors of the Companies announce that they have entered
into discussions regarding a possible merger of the Companies
("Merger"). These discussions may or may not lead to an agreement to
merge the Companies. If the Merger proceeds the current intention is
that it will be undertaken by way of a scheme of reconstruction under
the Insolvency Act 1986, which would be outside the provisions of The
City Code on Takeovers and Mergers.
The Merger will require formal approval from the shareholders of both
Companies and is expected to provide a range of benefits to all
shareholders. If the Merger is approved, it is expected to achieve cost
savings through the establishment of a larger combined fund.
Octopus Apollo VCT plc is also pleased to announce its intention to
launch an offer for subscription to raise up to GBP20 million in
November 2016.
A further announcement will be made in due course.
For additional information, please contact:
Nicola Board
Company Secretary
Octopus Apollo VCT plc and Octopus Eclipse VCT plc
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 Eclipse VCT plc via Globenewswire
(END) Dow Jones Newswires
September 27, 2016 10:15 ET (14:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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