Publication of Prospectus
January 06 2022 - 8:45AM
Publication of Prospectus
Publication of Prospectus
LEI Code
213800OVSRDHRJBMO720
Albion VCTs Prospectus Top Up Offers
2021/2022
Albion Development VCT PLC, Albion Enterprise
VCT PLC, Albion Technology & General VCT PLC, Albion Venture
Capital Trust PLC, Crown Place VCT PLC and Kings Arms Yard VCT PLC
(together, "the Companies") announce that they have published a
Prospectus (comprising a Securities Note, Registration Document and
Summary) in relation to offers for subscription for new Ordinary
Shares in each of the Companies to raise, in aggregate, up to £80
million together with over-allotment facilities of up to a further
£20 million in aggregate (the "Offers") as follows:
Companies |
Amount to be raised under each Offer |
Over-allotment facility |
Albion Development VCT PLC Offer |
£15 million |
£6 million |
Albion Enterprise VCT PLC Offer |
£20 million |
£3 million |
Albion Technology & General VCT PLC Offer |
£20 million |
£4 million |
Albion Venture Capital Trust PLC Offer |
£10 million |
- |
Crown Place VCT PLC Offer |
£7 million |
£5 million |
Kings Arms Yard VCT PLC Offer |
£8 million |
£2 million |
Any election to make use of their over-allotment
facility will be subject to the decision of the individual boards
of the Companies in the light of investments and disposals made and
anticipated by them at the relevant time.
The Offers open on 6 January 2022 and are
expected to close no later than 30 September 2022 (unless fully
subscribed by an earlier date or previously closed).
Each of the Companies has entered into an offer
agreement relating to the Offers with the Companies’ investment
manager Albion Capital Group LLP (“Albion”), pursuant to which
Albion will receive a fee of 2.5 per cent. of the gross proceeds of
the Offers and out of which Albion will pay the costs of the
Offers, as detailed in the Prospectus. Albion is a related party of
each of the Companies under the Listing Rules, and therefore
entering into the offer agreement is a transaction to which Listing
Rule 11.1.10R applies.
A downloadable version of the Prospectus will be
available from www.albion.capital.
Copies of the Prospectus are available, free of
charge, from the Companies' registered office at 1 Benjamin Street,
London, EC1M 5QL.
In accordance with the Listing Rules, the
Prospectus has been submitted to the National Storage Mechanism and
will shortly be available for inspection at.
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Enquiries:Will Fraser-AllenManaging Partner,
Albion Capital Group LLPInvestment ManagerTel: 0207 601 18506
January 2022
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