REG-Octopus Eclipse VCT plc : Possible Merger Between Octopus Apollo VCT PLC and Octopus Eclipse VCT PLC <Origin Href="QuoteRef">OAP3.L</Origin> <Origin Href="QuoteRef">OEC1.L</Origin>

Octopus Apollo VCTAnnouncement

27/09/2016 15:20

  
Octopus Apollo VCT PLC 
Octopus Eclipse VCT PLC 
Together "the Companies"
    
27 September 2016
  
Possible merger between Octopus Apollo VCT PLC and Octopus Eclipse VCT PLC 
  
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 plc is also pleased to announce its intention to launch an offer for subscription to raise up to 20 million in November 2016.
  
A further announcement will be made in due course. 
  
For additional information, please contact:
  
Nicola Board
Company Secretary 
Octopus Apollo VCT plc and Octopus Eclipse VCT plc
020 7776 8663
    


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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Octopus Eclipse VCT plc via Globenewswire