Octopus Apollo VCT plc Announces New Equity Issuance
Octopus Apollo VCT plc has recently taken significant steps to enhance its capital by issuing a large batch of equity. This announcement brings excitement for shareholders as the company moves forward to support its future growth strategies. A total of 39,170,082 Ordinary Shares have been allocated, with each share having a nominal value of 0.1p. These shares were part of a larger initiative aimed at raising funds through an offer for subscription.
Details of the Share Issuance
The shares were sold at a price of 52.6p, and the company anticipates that this strategic move will help raise £50 million, with an additional £25 million available through an over-allotment facility. These funds are intended for the taxation years of 2024/2025 and 2025/2026, demonstrating the company’s commitment to a longer-term financial strategy.
Admission to Trading
Following the successful issuance, an application has been submitted for the shares to be listed on the Official List by the Financial Conduct Authority (FCA). The shares are expected to commence trading on the London Stock Exchange around mid-December.
Board Involvement in Allotment
Among the directors, several participated in the allotment of shares, which was another step towards reinforcing their commitment to the company’s growth and stability. The transparency in the allotment process is commendable as it showcases accountability within the organization.
Share Distribution Details
The share distribution accounted for various holdings, the specifics of which detail how much each key director holds in relation to their overall percentage of the issued capital. For instance, PCA of Murray Steele received 20,436 shares, increasing their total holding to 118,016 shares, representing a very nominal 0.01% of the issued share capital.
Current Share Capital and Voting Rights
As it stands, the company’s issued share capital has reached 942,222,088. This number is crucial as it serves as a denominator for shareholders when assessing their interest in the share capital. This can impact the disclosures that shareholders are required to make under the FCA’s Disclosure Guidance and Transparency Rules.
Company Contact Information
For those seeking further information, Rachel Peat from Octopus Company Secretarial Services Limited is available for inquiries. She can be reached at +44 (0)80 0316 2067, ensuring that stakeholders have easy access to any needed clarifications regarding the recent developments.
Frequently Asked Questions
What is the purpose of the recent equity issuance by Octopus Apollo VCT?
The recent equity issuance aims to raise capital to support the company’s growth strategies for the coming years and to strengthen its financial base.
How many shares were issued in this round?
A total of 39,170,082 Ordinary Shares were issued during this latest equity round.
What price was set for the new shares?
The new shares were priced at 52.6p each in this latest issuance.
When will the shares be trading on the London Stock Exchange?
The shares are expected to commence trading in the second half of December.
Who can I contact for more information regarding the company?
Rachel Peat from Octopus Company Secretarial Services Limited is available for inquiries, with contact information provided above.
