Mobeus Income & Growth 2 VCT PLC Joint Announcement - Fundraising Update (2072N)
August 04 2017 - 11:09AM
UK Regulatory
TIDMMIG
RNS Number : 2072N
Mobeus Income & Growth 2 VCT PLC
04 August 2017
Mobeus Income & Growth VCT plc
Mobeus Income & Growth 2 VCT plc
Mobeus Income & Growth 4 VCT plc
The Income & Growth VCT plc
(together the "Companies" or "VCTs" and each a "Company" or
"VCT")
Joint Announcement - Fundraising update
Further to the general meetings held yesterday, the Boards of
the Companies are pleased to confirm that the Mobeus VCT joint
fundraising Offers, promoted and advised by Mobeus Equity Partners
LLP ("Mobeus"), are intending to launch in early September
2017.
The Offers will seek to raise up to GBP50 million in aggregate
with an over-allotment facility of up to an additional GBP30
million in aggregate. The share of both the initial fund raise and
the over-allotment facility will be allocated across each VCT as
follows:
Initial fund raise Over-allotment facility
GBP million GBP million
Mobeus Income & Growth VCT plc: 15 10
Mobeus Income & Growth 2 VCT plc: 10 5
Mobeus Income & Growth 4 VCT plc: 10 5
The Income & Growth VCT plc: 15 10
In the event that the Boards of the Companies utilise the
over-allotment facility, Mobeus has agreed to make a contribution
of up to GBP300,000 to the VCTs in total, by way of a fee waiver of
1% of any funds that each VCT may raise under the allotment
facility, for a period of one year.
The Boards anticipate strong demand for the Offers. To encourage
early investment, Mobeus will offer an early investment incentive
discount of 1% of the amounts subscribed by investors to
applications which are accepted up to the earlier of the first
GBP50 million, in aggregate being raised across the Companies or
Friday 3rd November 2017.
Further details of all of the above arrangements will be set out
in the Prospectus, which it is anticipated will be available in
early September.
For further information, please contact:
Mobeus Equity Partners LLP
Rob Brittain
Telephone: 020 7024 7600
This information is provided by RNS
The company news service from the London Stock Exchange
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