Albion Dev VCT Issue Of Equity And Total Voting Rights And Capital
April 11 2022 - 9:00AM
UK Regulatory
TIDMAADV
ALBION DEVELOPMENT VCT PLC
Issue of Equity and Total Voting Rights and Capital
LEI Code 213800FDDMBD9QLHLB38
The first and final allotment for the 2022/2023 tax year of new
ordinary shares of nominal value 1 penny per share ("New Shares")
in Albion Development VCT PLC (the "Company") under the Albion VCTs
Prospectus Top Up Offers 2021/22 (the "Offers"), (which was
launched on 6 January 2022) took place on 11 April 2022.
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 received by 2 p.m. on 25 February 2022 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 calculated to avoid any capital dilution
to existing shareholders who do not participate in the Offers.
The Company has received valid applications for 162,918 New
Shares which will be allotted at an issue price of 96.5 pence per
share from existing shareholders and 24,223 New Shares allotted at
an issue price of 97.0 pence per share for new subscribers, both of
which qualified for the early bird discount. A further 709,442 New
Shares will be allotted at an issue price of 97.5 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 GBP0.9 million, bringing net total raised to date
under the prospectus to GBP20.5 million.
Application has been made to the Financial Conduct Authority for
896,583 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 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
GBP96.5 million (of which GBP4.7 million relates to this tax year
2022/2023).
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 11 April 2022 consists of
138,301,993 ordinary shares with a nominal value of 1 penny each.
The Company holds 14,858,336 ordinary shares in Treasury.
Therefore, the total number of voting rights in the Company is
123,443,657, 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
11 April 2022
(END) Dow Jones Newswires
April 11, 2022 09:00 ET (13:00 GMT)
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