Issue of Equity and Total Voting Rights and Capital
December 05 2022 - 6:15AM
Issue of Equity and Total Voting Rights and Capital
ALBION ENTERPRISE VCT PLC
Issue of Equity and Total Voting
Rights
LEI Code
213800OVSRDHRJBMO720
The first allotment for the 2022/2023 tax year
of new ordinary shares of nominal value 1 penny per share ("New
Shares") in Albion Enterprise VCT PLC (the “Company”) under the
Albion VCTs Prospectus Top Up Offers 2022/23 (the “Offers”), (which
was launched on 10 October 2022) took place on 2 December 2022.
Pursuant to the Prospectus, the Company offered
an early bird discount of 1% on issue costs to existing
shareholders and 0.5% on issue costs to new subscribers. These
early bird discounts were available to investors who subscribed for
New Shares for the first £10m across the six VCTs participating in
the Offers. The cost of these discounts is being borne by the
Manager, Albion Capital Group LLP. The issue pricing of the New
Shares has been structured to avoid any capital dilution to
existing shareholders who do not participate in the Offers.
The Company has received valid applications for
1,144,527 New Shares which will be allotted at an issue price of
129.0 pence per share from existing shareholders and 245,176 New
Shares allotted at an issue price of 129.6 pence per share for new
subscribers, both of which qualified for the early bird discount. A
further 3,289,782 New Shares will be allotted at an issue price of
130.3 pence per share (which did not qualify for the early bird
discount). The total net proceeds receivable by the Company for
this allotment is approximately £5.95 million.
Application has been made to the Financial
Conduct Authority for 4,679,485 New Shares to be admitted to the
Official List and to the London Stock Exchange for the New Shares
to be admitted to trading on the London Stock Exchange's market for
listed securities. The New Shares rank pari passu with the existing
shares in issue.
It is expected that admission to the Official
List will become effective and that dealings in the New Shares will
commence within three Business Days following allotment.
As at 2 December 2022, the total amount raised
across the six VCTs under the Offers is £34.87 million (of which
£1.12 million relates to the tax year 2023/2024). The Offers are
expected to close no later than 2 p.m. on 30 September 2023 (unless
fully subscribed by an earlier date or previously closed).
Following this allotment and in conformity with
the provisions of DTR 5.6, we make the following notifications in
connection with the issued share capital of the Company:
The Company's capital as at 2 December 2022
consists of 107,445,949 ordinary shares with a nominal value of 1
penny each. The Company holds 12,967,934 ordinary shares in
Treasury.
Therefore, the total number of voting rights in
the Company is 94,478,015, which may be used by shareholders and
other persons as the denominator for the calculations by which they
will determine if they are required to notify their interest in, or
a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
For further information, please contact:
Vikash HansraniOperations PartnerAlbion Capital
Group LLPCompany Secretary 020 7601 1850
5 December 2022
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