Albion EnterpriseVCT Issue Of Equity And Total Voting Rights And Capital
January 31 2020 - 10:40AM
UK Regulatory
TIDMAAEV
Issue of Equity and Total Voting Rights and Capital
ALBION ENTERPRISE VCT PLC
LEI Code 213800OVSRDHRJBMO720
The first allotment for the 2019/2020 tax year of new ordinary shares of
nominal value 1 penny per share in Albion Enterprise VCT PLC (the
"Company") under the Albion VCTs Prospectus Top Up Offers 2019/20 (the
"Offers"), (which was launched on 22 October 2019) took place on 31
January 2020.
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 by 2 p.m. on 31
January 2020 across the five 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 1,286,925 new ordinary
shares which will be allotted at an issue price of 121.3 pence per share
from existing shareholders and 266,214 new ordinary shares allotted at
an issue price of 121.9 pence per share for new subscribers, both of
which qualified for the early bird discount. A further 3,154,706 new
ordinary shares will be allotted at an issue price of 122.5 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
GBP5.6m.
Application has been made to the Financial Conduct Authority for
4,707,845 new ordinary shares to be admitted to the Official List and to
the London Stock Exchange for the new ordinary shares to be admitted to
trading on the London Stock Exchange's market for listed securities. The
new ordinary shares rank pari passu with the existing shares in issue.
It is expected that admission will become effective, and that dealings
in the shares will commence on or before 8.00 a.m. on 3 February 2020.
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 GBP34m (of which
GBP32.5m relates to this tax year 2019/2020).
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 31 January 2020 consists of 76,749,829
ordinary shares with a nominal value of 1 penny each. The Company holds
8,454,443 ordinary shares in Treasury.
Therefore, the total number of voting rights in the Company is
68,295,386, 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:
Albion Capital Group LLP
Company Secretary
020 7601 1850
31 January 2020
(END) Dow Jones Newswires
January 31, 2020 10:40 ET (15:40 GMT)
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