Octopus Apollo VCT plc : Possible merger betwee...

Octopus Apollo VCT PLC
Octopus VCT 2 PLC
Together "the Companies"

6 October 2015

Possible merger between Octopus Apollo VCT PLC and Octopus VCT 2 PLC ("Companies")

The boards of directors of the Companies announce that they have entered into discussions regarding a possible merger of the Companies ("Merger"). These discussions may or may not lead to an agreement to merge the Companies.  If the Merger proceeds the current intention is that it will be undertaken by way of a scheme of reconstruction under the Insolvency Act 1986, which would be outside the provisions of The City Code on Takeovers and Mergers. 

The Merger will require formal approval from the shareholders of both Companies and is expected to provide a range of benefits to all shareholders. If the Merger is approved, it is expected to achieve cost savings through the establishment of a larger combined fund.

Octopus Apollo VCT is also pleased to announce its intention to launch an offer for subscription to raise up to £30 million, with an over-allotment facility of a further £10 million, in November 2015.

A further announcement will be made in due course.
For additional information, please contact:

Nicola Board
Company Secretary
Octopus Apollo VCT and Octopus VCT 2 plc
020 7776 8663

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Octopus Apollo VCT plc via Globenewswire

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