DEVC Draper Esprit Vct Plc

 
TIDMEDV 
 
   Elderstreet VCT plc 
 
   12 December 2016 
 
   Offer for Subscription 
 
   The board of Elderstreet VCT plc (the "Company") is pleased to announce 
that the Company has today published a prospectus (the "Prospectus") 
relating to an offer for subscription in respect of new ordinary shares 
(the "Offer"). 
 
   The Offer will open on 12 December 2016.  In respect of the 2016/17 tax 
year, the Offer will close at 10.00 a.m. on 5 April 2017 and, in respect 
of the 2017/18 Tax Year, it will close at 4.00 p.m. on 1 May 2017 
(unless extended or fully subscribed earlier). The Offer is seeking to 
raise up to GBP10 million, with an option to extend the Offer to no more 
than GBP20 million. 
 
   Under the terms of the Offer, Elderstreet Investments Limited (the 
"Manager") will receive a promoter's fee from the Company of up to 5.5% 
of the amount applied for; from this the Manager will pay all of the 
costs and expenses (including commissions) of the Offer and will 
contribute to such costs should they exceed the promoter fee actually 
received. This arrangement falls within the related party listing rule 
11.1.10R as issued by FCA 
 
   A downloadable version of the Prospectus will be available shortly from 
www.elderstreet.com. The Prospectus will also be submitted to the 
National Storage Mechanism and will shortly be available for inspection 
at www.morningstar.co.uk/uk/NSM. 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Elderstreet VCT plc via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

December 12, 2016 07:33 ET (12:33 GMT)

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