Octopus Second AIM VCT plc : Publication of Cir...

OCTOPUS SECOND AIM VCT PLC

PUBLICATION OF CIRCULAR

SUMMARY

The board of directors ("Board") of Octopus Second AIM VCT plc ("the Company") is today sending out a circular ("Circular") to shareholders in relation to an Enhanced Buyback Facility in respect of the ordinary shares of 1p each in the capital of the Company ("Shares"), being for up to 50% of the issued share capital of the Company ("Enhanced Buyback Facility).

The Enhanced Buyback Facility has opened today for application but is subject to shareholder approval being provided at a general meeting being convened for 20 November 2012 pursuant to the Circular.

The Circular also includes information about a possible fund raising in early 2013.

ENHANCED BUYBACK FACILITY

Enhanced buyback facilities provides VCT shareholders with a simplified process which enables them to realise their existing holding and reinvest in the same VCT. This rewards shareholder loyalty for reinvesting in the same VCT and provides a more efficient and lower cost process with additional upfront tax relief (subject to the qualifying status of the shareholder).

The Company is making a tender offer to all shareholders (with the exception of shareholders in certain overseas jurisdictions) on the register on 22 October 2012 pursuant to the Enhanced Buyback Facility. Eligible shareholders may tender some or all of their existing holding, subject to being entitled to:

·         sell up to their basic entitlement (this being up to 50% of their holding on the register on 22 October 2012, rounded down to the nearest whole Existing Share); and

·         tender additional existing Shares that may be sold to the extent that other shareholders do not participate up to the maximum available amount.

The closing date for the Enhanced Buyback Facility is 12.00 noon on 28 December 2012.

Further details on the Enhanced Buyback Facility, including the terms and conditions and tax consequences of participating, are set out in the Circular and the Enhanced Buyback Facility application form (coloured pink) at the end of the Circular.

FUTURE FUND RAISING

The Board is keen to provide an opportunity to shareholders and new investors to invest in the Company pursuant to further top-up offers. Subject to market conditions and investor appetite, both the Board and Octopus are considering an offer to raise up to £10 million in early 2013.

GENERAL MEETING

The general meeting being convened pursuant to the Circular is to be held at 11.15 a.m. on 20 November 2012 at the offices of Octopus Investments Limited, 20 Old Bailey, London EC4M 7AN. A form of proxy (coloured blue) is at the end of the Circular.

AVAILABILITY OF DOCUMENTS

The Circular has been submitted to the Financial Services Authority and will shortly be available for inspection both at the National Storage Mechanism, which is located at:

http://www.morningstar.co.uk/uk/NSM

and the Company's website:

http://www.octopusinvestments.com

For further information, please contact:

Octopus Investments Limited
Paul Daniells/Patricia Standaloft
Telephone: [phone]

Please note that no investment or tax advice can be given. Shareholders are further advised to consult their independent financial adviser.

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Source: Octopus Second AIM VCT plc via Thomson Reuters ONE

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