OSA Oct Sec.Aim

 
TIDMOSA 
 
OCTOPUS SECOND AIM VCT PLC 
 
13 January 2010 
 
JOINT ANNOUNCEMENT - MERGER DISCUSSIONS 
 
The Boards  of  Octopus Second AIM VCT plc ("Second") and Octopus IHT AIM VCT plc 
("IHT") are pleased  to  announce  that they are in preliminary discussions on 
terms for the merger of Second  and IHT (the "Companies"). Each of the Companies 
is  currently  managed by  Octopus Investments Limited. 
 
If  the  merger  proceeds  it  is likely to be  by  way  of  a "scheme  of reconstruction" 
pursuant to  s.110 of  the Insolvency Act 1986 (the "Scheme").   Under the 
proposed  Scheme, the assets and  liabilities  of one of the Companies would  be 
transferred to the other on a  relative net asset value basis  to create one 
larger  VCT.   This  should produce  a significant reduction in running costs  as 
well as other benefits.   A merger on this  basis would  be outside the City Code 
on Takeovers and Mergers 
 
The proposed transaction which, if implemented, is expected to be completed 
before 30 June 2010, would require the approval  of shareholders  of each of the 
Companies. 
 
A further announcement will be made in due course. 
 
For further information please contact: 
 
Chris Hulatt 
Director, Octopus Investments Limited 
020 7710 2804 
 
 
[HUG#1373264] 
 

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