OAP3 Octopus Apollo Vct Plc

 
TIDMOAP3 
 
 
   Octopus Apollo VCT plc ("the "Company") 
 
   3 March 2021 
 
   Proposed Increase in Size of Offer for Subscription 
 
   Further to the announcement released by Octopus Apollo VCT plc (the 
"Company") on 25 September 2020 relating the Company's Offer for 
Subscription to raise up to GBP35 (GBP25 million with an over-allotment 
facility of a further GBP10 million) (the "Offer"), in the 2020/2021 and 
2021/2022 tax years, the Board of the Company announces today that, due 
to investor demand, it is proposing to increase the size of the Offer 
from GBP35 million to GBP75 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"), this offer increase constitutes a smaller 
related party transaction within Listing Rule 11.1.10 R, and the Manager 
will receive: 
 
 
   -- an initial charge of 3 per cent. of the gross funds raised by the Company 
      under the Offer; and 
 
   -- a further charge of up to 2.5 per cent of gross funds raised by the 
      Company from investors under the Offer 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: 
 
   Graham Venables 
 
   Octopus Company Secretarial Services Limited 
 
   0203 935 3803 
 
 
 
 
 
 

(END) Dow Jones Newswires

March 03, 2021 07:34 ET (12:34 GMT)

Octopus Apollo Vct (LSE:OAP3)
Historical Stock Chart
From Mar 2024 to Apr 2024

Octopus Apollo Vct (LSE:OAP3)
Historical Stock Chart
From Apr 2023 to Apr 2024