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LONDON - Octopus Apollo VCT PLC has reported transactions by two of its non-executive directors, Christopher Powles and Alex Hambro, who have sold shares of the company. The transactions took place on the London Stock Exchange (LON:LSEG)’s Main Market on Friday.
Christopher Powles, a non-executive director, sold 14,149 ordinary shares at a price of £0.4727 each. Meanwhile, Alex Hambro, also serving as a non-executive director, sold 55,913 ordinary shares at the same price per share. Both transactions were reported as initial notifications, with no subsequent amendments indicated.
The shares in question are ordinary shares of 0.1p each in Octopus Apollo VCT PLC, identified by the code GB00B17B3479. The sales did not involve aggregated transactions; they were single, distinct sales for each director.
Octopus Apollo VCT PLC is managed by Octopus Investments Limited, part of the Octopus Group, which specializes in venture capital trusts (VCTs) and investment management. The company provides funding and support to UK smaller companies with the aim of generating growth and long-term capital gains for investors.
The notification of these transactions is a routine disclosure required by market regulations. It is intended to provide transparency regarding the actions of persons discharging managerial responsibilities (PDMRs) and persons closely associated with them.
The disclosure of these sales is based on a press release statement from Octopus Company Secretarial Services Limited, which manages company secretarial duties for Octopus Apollo VCT PLC. The Legal Entity Identifier provided for Octopus Apollo VCT PLC is 213800Y3XEIQ18DP3O53.
Investors and the market typically monitor such transactions as they can indicate the confidence levels of company insiders in the firm’s prospects. However, the reasons for these sales have not been disclosed, and it remains a personal decision of the individuals involved.
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