Praetura Growth VCT Plc Offer for Subscription
November 08 2024 - 10:32AM
RNS Regulatory News
RNS Number : 5914L
Praetura Growth VCT Plc
08 November 2024
Praetura Growth VCT
plc
Offer for
Subscription
8 November
2024
LEI: 9845004ZDC57AB064B97
A prospectus relating to an offer
for subscription of up to £10 million of ordinary shares of £0.01
each, together with an over-allotment facility for up to a further
£10 million of ordinary shares (the "Offer"), was issued by the Company on 8
November 2024 (the "Prospectus").
The Offer will open on 8 November
2024 and is expected to close no later than 3 April 2025 for shares
to be allotted in the 2024/25 tax year and, no later than 31
October 2025 for shares to be allotted in the 2025/26 tax
year.
Pursuant to an offer agreement dated
8 November 2024 relating to the Offer between, among others, the
Company and Praetura Ventures Limited ("Praetura Ventures"). Praetura Ventures,
as the promoter of the Offer, will receive a promoter fee of up to
3% of the aggregate amount received by the Company under the Offer,
subject to an overall cap of £170,096. Praetura Ventures, as the
investment manager of the Company, is a related party of the
Company under Listing Rule 11.5.3R, and the payment of such a fee
by the Company to Praetura Ventures is a related party transaction
of an adequate size under UK Listing Rule 11.5.6R for UK Listing
Rule 8.2.1R to apply. The Board considers this transaction fair and
reasonable as far as the shareholders of the Company are concerned
and have been provided with written confirmation of this by the
Company's sponsor, Howard Kennedy Corporate Services
LLP.
A copy of the Prospectus has been
submitted to the National Storage Mechanism and will shortly be
available for viewing online at the following website
address: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Copies of the Prospectus are also
available free of charge from the office of the Company's
investment manager, Praetura Ventures Limited, Level 8 Bauhaus, 27
Quay Street, Manchester M3 3GY.
For
further information, please contact:
Sam McArthur
Praetura Ventures Limited
(Investment Manager)
sam.mcarthur@praetura.co.uk
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END
PDIUWUNRSOUARAA
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