Income & Growth VCT (The) PLC Issue of Equity (2345U)
October 20 2017 - 8:25AM
UK Regulatory
TIDMIGV
RNS Number : 2345U
Income & Growth VCT (The) PLC
20 October 2017
The Income & Growth VCT plc (the "Company")
20 October 2017
Issue of Equity
The Company announces that on 20 October 2017 it allotted and
issued 7,167,226 new Ordinary Shares of 1 penny each ("Shares").
These new Shares in the Company have been issued pursuant to the
Offer for subscription with Mobeus Income & Growth VCT plc,
Mobeus Income & Growth 2 VCT plc and Mobeus Income & Growth
4 VCT plc, launched on 6 September 2017 to raise up to GBP50
million in aggregate, with over-allotment facilities to raise, in
aggregate, up to a further GBP30 million ("the Offer"). Of this
aggregate amount, the Company is seeking to raise GBP15 million,
with an over-allotment facility to raise up to a further GBP10
million (presently unutilised).
In accordance with the allotment formula set out in the
prospectus for the Offer, the new Ordinary Shares were issued at
prices of between 81.21 and 86.42 pence per share, depending on the
adviser charge (if applicable) and the number of shares issued
(after taking roundings into account) pertaining to each
application.
Application has been made for the new Ordinary Shares to be
admitted to the Official List of the UK Listing Authority and
dealings are expected to commence on or around 24 October 2017.
Following this allotment, the issued share capital of the
Company is 86,371,928 Ordinary Shares of 1 penny each.
Applications for subscription totalling GBP41.7 million have
been received in respect of the Offer, of which GBP11.1 million of
applications has been received by the Company. Including the shares
allotted by the Company on 28 September 2017, this brings the total
number of shares allotted by the Company in respect of the Offer to
10,794,932. These totals are updated daily on the VCT section of
the Mobeus website at:
www.mobeusequity.co.uk/vct-investors/fundraising.
For further information please contact:
Robert King at Mobeus Equity Partners LLP, Company Secretary, on
020 7024 7600.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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