Octopus Future Generations VCT plc Unveils New Share Offering

Exciting New Share Offering from Octopus Future Generations VCT plc

Octopus Future Generations VCT plc (the “Company”) welcomes investors to participate in its latest initiative.

The company has recently issued a prospectus detailing a new investment opportunity. This prospectus outlines a proposed offer for subscription for ordinary shares priced at 0.1p each, collectively referred to as “New Shares.” The goal of this venture is to raise up to £5 million, and with the option for an additional £5 million through over-allotment (the “Offer”). This initiative has received the necessary approval from the Financial Conduct Authority, ensuring compliance and transparency.

Understanding the Agreement with the Portfolio Manager

The Offer is underpinned by a pivotal agreement between the Company and Octopus Investments Limited, known as the Company’s portfolio manager (the “Portfolio Manager”). This arrangement is classified as a related party transaction, as outlined in UK Listing Rule 8.2.1R.

Under the terms of this agreement, the Portfolio Manager is entitled to a fee amounting to 3 percent of the gross funds raised from the Offer. This fee ensures that the company’s contributions to stakeholders are both lucrative and justifiable.

Assessing Fairness for Shareholders

The Board of the Company is firmly confident that the arrangements made are fair and reasonable for the shareholders involved. To reinforce this confidence, they have sought guidance from Howard Kennedy Corporate Services LLP, acting as the sponsor to the Company. This collaboration helps instill trust and validates the integrity of the Offer among potential investors.

Offer Details and Timeline

The subscription period for the Offer is officially open and is set to remain so until 5:00 PM on the closing date of 1 April for the 2024/2025 tax year. It will also conclude on 31 January for the 2025/2026 tax year, unless the Offer reaches full subscription prior to these dates. The Board reserves the right to terminate the Offer earlier if necessary, promoting flexibility in their operations.

Availability of the Prospectus

Interested parties can look forward to the prospectus being readily accessible shortly. It will be made available for inspection at the National Storage Mechanism, located at a designated online platform. Furthermore, the document will also be found on the Company’s official website. This accessibility is aimed at ensuring all potential investors are fully informed and can make educated investment decisions.

Contact Information for Inquiries

For individuals seeking more in-depth information or guidance regarding this Offer, Rachel Peat from Octopus Company Secretarial Services Limited is available for contact. Interested parties can reach her directly by telephone at +44 (0)80 0316 2067. Her expertise will help address any queries and facilitate a smooth process for investors.

Frequently Asked Questions

What is the objective of the share offering by Octopus Future Generations VCT plc?

The share offering aims to raise up to £10 million, which includes an over-allotment option, to support the company’s investment strategies.

Who will manage the funds raised through this offering?

Octopus Investments Limited will manage the raised funds as the Company’s portfolio manager.

What fees does the Portfolio Manager earn from this Offer?

The Portfolio Manager is entitled to a fee of 3 percent of the gross funds raised through the Offer.

How can investors access the prospectus?

Investors can access the prospectus through the National Storage Mechanism and the Company's official website.

Who can potential investors contact for additional information?

Rachel Peat at Octopus Company Secretarial Services Limited is available for any inquiries at +44 (0)80 0316 2067.

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