Octopus Apollo VCT 3 plc : Result of Merger

Octopus Apollo VCT 3 plc ("Company")

Merger Results

27 September 2012

This announcement is made by Octopus Apollo VCT 3 plc ("the Company") in connection with the merger of the Company with Octopus Apollo VCT 1 plc ("Apollo 1"), Octopus Apollo VCT 2 plc ("Apollo 2") and Octopus Apollo VCT 4 plc ("Apollo 4") to be completed by way of schemes of reconstruction of Apollo 1, Apollo 2 and Apollo 4 pursuant to Section 110 of the Insolvency Act 1986 and the transfer by Apollo 1, Apollo 2 and Apollo 4 of all of their assets and liabilities to the Company) ("Schemes"), details of which were contained in the circular to shareholders ("the Circular") and the Company's prospectus ("the Prospectus"), both dated 17 August 2012.

The board is pleased to advise that the resolutions proposed at the general meetings of Apollo 1, Apollo 2 and Apollo 4 held today were duly passed to be able to implement and effect the Schemes. 

By way of implementation of the Schemes, the assets and liabilities of Apollo 1, Apollo 2 and Apollo 4 have been transferred to the Company in consideration for the issue of new ordinary shares of 10p each in the capital of the Company ("Shares") as set out below.

The total number of Shares issued to Apollo 1 shareholders in connection with the Apollo 1 Scheme was 8,239,542 at a deemed issue price of 91.0374p per share.

The total number of Shares issued to Apollo 2 shareholders in connection with the Apollo 2 Scheme was 8,238,067 at a deemed issue price of 91.0374p per share.

The total number of Shares issued to Apollo 4 shareholders in connection with the Apollo 4 Scheme was 12,423,792 at a deemed issue price of 91.0374p per share.

Following implementation of the Schemes and the issue of a total of 28,901,401 Shares as mentioned above, there are now 53,958,085 Shares in issue in the Company.

Application has been made for all the Shares issued pursuant to the Schemes to be admitted to the Official List and to trading on the main market of the London Stock Exchange. It is expected that admission will become effective and that trading will commence on 28 September 2012. CREST accounts are also expected to be credited on 28 September 2012.

Following completion of the Schemes, the name of the Company is also in the process of being changed to Octopus Apollo VCT plc.

The top-up offer and the enhanced buyback facility, details of which were contained in the Prospectus, are expected to open on 1 October 2012.

For further enquiries please contact:

Octopus Investments Limited
Tracey Spevack
Telephone: [phone]

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Source: Octopus Apollo VCT 3 plc via Thomson Reuters ONE

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