OAP3 Octopus Apollo Vct Plc

 
TIDMOAP3 
 
 
   Octopus Apollo VCT plc ("the "Company") 
 
   10 May 2019 
 
   Publication of Prospectus and Circular 
 
   The Company has issued a prospectus and circular both dated 10 May 2019 
relating to a proposed offer for subscription for ordinary shares of 10p 
each in the Company ("New Shares") to raise up to GBP20 million with an 
over-allotment of up to a further GBP10 million (the "Offer"), following 
the approval of the prospectus from the UK Listing Authority. 
 
   Pursuant to an agreement dated 10 May 2019 relating to the Offer 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 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% 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 at noon on 5 April 2020 for the 
2019/2020 tax year and noon on 9 May 2020 for the 2020/2021 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 and circular 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 Company's website 
 
   http://www.octopusinvestments.com 
 
   For further information please contact: 
 
   Parisha Kanani 
 
   Company Secretary 
 
   020 3935 3520 
 
 
 
 

(END) Dow Jones Newswires

May 10, 2019 12:01 ET (16:01 GMT)

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