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Octopus AIM VCT 2 Prospectus

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127tolmers
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Octopus AIM VCT 2 Prospectus

#435955

Postby 127tolmers » August 19th, 2021, 2:21 pm

https://www.investegate.co.uk/octopus-a ... 3034H2511/

Publication of Prospectus and Circular

The Companies have today issued a prospectus and circular 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 £30 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 19 August 2021 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 per cent of the gross funds raised under the Offer by the Companies; and

a further charge of up to 2.5 per cent 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 at noon on 5 April 2022 for the 2021/2022 tax year and noon on 18 August 2022 for the 2022/2023 tax year, or earlier if the Offer is fully subscribed. The boards of the Companies reserve the right to close the Offer earlier.

UncleEbenezer
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Re: Octopus AIM VCTs Prospectus

#442010

Postby UncleEbenezer » September 13th, 2021, 10:19 pm

Offers closed, £40m raised in just a few weeks.

That's a fairly big offer from a middling-popular VCT, and well outside traditional VCT season. Looks like strong demand, and something to bear in mind when any smaller offers appear.

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Re: Octopus AIM VCT 2 Prospectus

#449751

Postby Boots » October 13th, 2021, 9:38 am

I applied for this, via Wealth Club, in late August. Soon after the application was processed, I paid Octopus directly. Since then I have heard nothing further, from either Wealth Club or Octopus.

Is anyone else waiting?

Other offers I have applied for previously (with a variety of companies) have been acknowledge quite promptly, so this delay is rather surprising.

Thanks

Kidman
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Re: Octopus AIM VCT 2 Prospectus

#449756

Postby Kidman » October 13th, 2021, 9:50 am

It is a long time since I have applied for any Octopus issues. However, those non-Octopus applications which I have submitted through WealthClub have been dealt with and acknowledged very promptly, usually within an hour or two.

There were two RNS announcements on 08 October saying that OSEC had issued shares pursuant to the offer (and beyond) so if your shares were part of that issue you should get the paperwork in a week or so's time.

If you have online access to your holding via the Registrar then you could check to see if the new shares have been added.

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Re: Octopus AIM VCT 2 Prospectus

#449763

Postby Boots » October 13th, 2021, 10:21 am

Kidman wrote:If you have online access to your holding via the Registrar then you could check to see if the new shares have been added.


An excellent tip! I had not thought of that, because it was my first purchase of Octopus AIM 2, but I do already have a holding of Octopus Apollo, and the Registrar has been sufficiently helpful to combine the two. So, yes, I can indeed see my allotment.

Many thanks!


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