Octopus AIM VCT Announces Equity Issuance and Voting Rights Update
Octopus AIM VCT plc Issues New Ordinary Shares
Octopus AIM VCT plc, a prominent entity in the investment sector, is excited to share significant updates regarding its equity positioning. In a recent announcement, the company confirmed the issuance of 8,893,138 Ordinary Shares of 1p each, a move aimed to enhance its capital base and support its ongoing strategic initiatives.
Details of the Share Issuance
The issuance, which took place on 27 March, is a part of the company's extensive Offer for Subscription, which also involves Octopus AIM VCT 2 plc. This joint initiative aims to raise a considerable £20 million, with a potential over-allotment option added for an additional £10 million, thus providing ample room for growth in the 2024/2025 and 2025/2026 tax years.
Pricing and Prospectus Guidelines
The new shares were issued at a price of 52.2p each, in alignment with the terms set out in the prospectus issued on 23 September. This plan not only aims to raise equity but also builds confidence among current and prospective investors regarding the company’s focus on sustainable growth.
Admission to the Official List
Application for the admission of these shares to the Official List of the Financial Conduct Authority (FCA) is underway. The shares are expected to start trading on the London Stock Exchange's main market for listed securities around the end of March. This strategic decision is part and parcel of Octopus AIM VCT's commitment to maintaining vibrant and liquid markets for its investors.
Total Voting Rights and Shareholder Transparency
Following the recent share issuance, the total issued share capital and voting rights of Octopus AIM VCT now stand at an impressive 235,997,850 Ordinary Shares. This number is crucial for shareholders, who will use it as the basis for calculating their respective interests in the company under the FCA's Disclosure Guidance and Transparency Rules.
Company Contact Information
For more detailed insights or inquiries, shareholders and interested parties are encouraged to reach out to Rachel Peat at Octopus Company Secretarial Services Limited. You can contact her at +44 (0)80 0316 2067. Her expertise will provide clarity on the ongoing developments surrounding the company’s equity and governance.
Frequently Asked Questions
What was the purpose of the equity issuance?
The equity issuance aims to raise capital to support strategic initiatives and strengthen the financial position of Octopus AIM VCT plc.
When will the new shares start trading?
The new shares are expected to commence trading on or around the end of March.
How many new shares were issued?
A total of 8,893,138 Ordinary Shares were issued during this equity offering.
What is the significance of the total voting rights number?
The total voting rights number is essential for shareholders to assess their interest percentages and compliance with FCA rules.
Who can shareholders contact for further information?
Shareholders may contact Rachel Peat at Octopus Company Secretarial Services Limited for additional information regarding the equity issuance.
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