Octopus AIM VCT 2 plcLSE: OSEC

Octopus AIM VCT 2: Merger Discussions

· Issued by Octopus AIM VCT 2 plc via GlobeNewswire

Summary by 6ix AI

The boards of Octopus AIM VCT plc and Octopus AIM VCT 2 plc, two venture capital trusts (VCTs, listed funds that invest in smaller companies) focused on AIM, the London market for smaller growing companies, said on October 16, 2026 that they have entered into discussions about a possible merger.

Key details

  • If it proceeds, Octopus AIM VCT 2 plc, the smaller of the two, would transfer its assets and liabilities to Octopus AIM VCT plc, and its shareholders would receive new Octopus AIM VCT plc shares based on the relative net asset value (assets minus liabilities) of each VCT.
  • The merger would be done as a scheme of reconstruction under section 110 of the Insolvency Act 1986, not under the City Code on Takeovers and Mergers.
  • The boards say the proposed merger is intended to create a larger, more efficient AIM-focused VCT with greater scale and to deliver cost synergies (savings from combining). They believe combining the two should enhance operational efficiency while preserving the existing investment strategy and VCT tax status.
  • Both VCTs' offers for subscription (offers of new shares to investors) were closed to further applications, as announced on April 2, 2026. The offer for Octopus AIM VCT plc is to re-open for applications in the week commencing October 26, 2026.
  • Following the merger, if it proceeds, Octopus AIM VCT plc intends to launch a new offer for subscription for the 2026-27 and 2027-28 tax years.

What’s still pending

  • The discussions may or may not lead to an agreement to merge.
  • Any merger would require the consent of shareholders in both VCTs.
  • The VCTs say a further announcement will be made in due course.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/merger-discussions-2

Merger Discussions

Octopus AIM VCT 2 plc
Octopus AIM VCT plc

16 October 2026

Merger Discussions

The Boards of Directors of Octopus AIM VCT plc (“AIM VCT”) and Octopus AIM VCT 2 plc ("AIM VCT 2”) (AIM VCT and AIM VCT 2 and together the “VCTs") announce that they have entered into discussions regarding a possible merger (the "Merger"), which may or may not lead to an agreement to merge the VCTs. The proposed merger is intended to create a larger and more efficient AIM-focused VCT with greater scale and deliver cost synergies which the Boards consider should be of benefit to existing and prospective shareholders. The Boards believe that combining the two entities should enhance operational efficiency and support continued liquidity together with providing a stronger platform for long-term shareholder returns while preserving the existing investment strategy and VCT tax status.

If the Merger proceeds, it would be undertaken by way of a scheme of reconstruction under s.110 of the Insolvency Act 1986 and not under the City Code on Takeovers and Mergers. This would involve the assets and liabilities of AIM VCT 2, the smaller of the VCTs, being transferred to AIM VCT in consideration for which shareholders in AIM VCT 2 would receive new shares in AIM VCT, such number of shares based on the relative net asset value of each VCT. If the Merger proceeds it would require the consent of shareholders in both VCTs.

As announced on 2 April 2026, the current offer for subscription for each of the VCTs was closed to further applications but will be re-opened for applications into AIM VCT in the week commencing 26 October 2026. Following the Merger, AIM VCT intends to launch a new offer for subscription in respect of the 2026-27 and 2027-28 tax years.  

The information contained within this announcement is deemed by the VCTs to constitute inside information as stipulated under the UK version of the Market Abuse Regulations (EU number. 596/2014). Upon the publication of this announcement through a Regulatory Information Service, this inside information is now considered to be in the public domain.

A further announcement will be made in due course.

For additional information, please contact:

Andrew Humphries
Octopus Company Secretarial Services Limited
Tel: +44 (0)80 0316 2067

LEI: 213800BW27BKJCI35L17


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