Purchase of securities by Octopus Investments N...

Octopus A pollo VCT p lc

Purchase of securities by Octopus Investments Nominees Limited  

Octopus Apollo VCT plc (‘the Company’) announces that Octopus Investments Nominees Limited (‘OINL’), part of the Octopus Group, has purchased (the ‘Share Purchase’) 173,900 shares of 0.1p each in the capital of the Company from shareholders who submitted requests to sell shares as part of the Company’s share buy back on 12 December 2022 (the ‘Share Buy Back’), but who, due to postal issues, were unable to be included in the Share Buy Back. OINL has purchased these shares to ensure that these shareholders are not disadvantaged as a result of the postal issues. These shareholders will receive the same monies as if they had participated in the Share Buy Back. The aggregate cost of the Share Purchase was £82,950.30. Where OINL takes on the risk or benefit of movements in the Company's net asset value (‘NAV’), such as in this instance, OINL will always take on any loss with a downward movement to the price at which the shares were taken on. Where there is a gain, and given the financial risk taken on by OINL in taking on these shares, OINL will also take any profit, however, due to costs, OINL is unlikely to make an overall gain when selling shares back to the Company at the next buyback, from any upward movement in NAV per share, especially where the number of shares is smaller.

Subject to available distributable reserves and cash, and regulations, the Company proposes to purchase, for cancellation, these shares from OINL in accordance with its share buy back policy, as part of the next buy back, expected to be in March 2023, at a price reflecting a discount of up to 5 per cent of the then latest published net asset value per share in accordance with the terms of its stated buy back policy.

These arrangements constitute a smaller related party transaction under Listing Rule 11.1.10R.

For further enquiries, please contact:

Rachel Peat

Octopus Company Secretarial Services Limited

Tel: [phone]

LEI: 213800Y3XEIQ18DP3O53