Albion Ven Cap Trust Issue Of Equity And Total Voting Rights And Capital
April 14 2023 - 8:30AM
UK Regulatory
TIDMAAVC
ALBION VENTURE CAPITAL TRUST PLC
Issue of Equity and Total Voting Rights and Capital
LEI Code 213800JKELS32V2OK421
The first and final allotment for the 2023/2024 tax year of new
ordinary shares of nominal value 1 penny per share ("New Shares")
in Albion Venture Capital Trust 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 14 April 2023.
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
GBP10m 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 377,529 New
Shares which will be allotted at an issue price of 50.90 pence per
share from existing shareholders and 48,922 New Shares allotted at
an issue price of 51.10 pence per share for new subscribers, both
of which qualified for the early bird discount. A further 381,518
New Shares will be allotted at an issue price of 51.40 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 GBP0.4 million, bringing net total raised under the
prospectus to GBP10.7 million.
Application has been made to the Financial Conduct Authority for
807,969 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 ordinary 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.
The Offers which constitute separate offers have been fully
subscribed and all have been closed to further applications. The
total amount raised across the Albion VCTs under the Offers is
GBP80 million (of which GBP2.3 million relates to this tax year
2023/2024).
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 14 April 2023 consists of
159,524,301 ordinary shares with a nominal value of 1 penny each.
The Company holds 19,137,781 ordinary shares in Treasury.
Therefore, the total number of voting rights in the Company is
140,386,520, 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 Hansrani
Operations Partner
Albion Capital Group LLP
Company Secretary
020 7601 1850
14 April 2023
(END) Dow Jones Newswires
April 14, 2023 09:30 ET (13:30 GMT)
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