Albion EnterpriseVCT Issue Of Equity And Total Voting Rights And Capital
February 28 2022 - 6:30AM
UK Regulatory
TIDMAAEV
ALBION ENTERPRISE VCT PLC
Issue of Equity and Total Voting Rights and Capital
LEI Code 213800OVSRDHRJBM0720
The first allotment for the 2021/2022 tax year of new ordinary
shares of nominal value 1 penny per share ("New Shares") in Albion
Enterprise 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 25 February 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 973,740 New
Shares which will be allotted at an issue price of 131.70 pence per
share from existing shareholders and 317,042 New Shares allotted at
an issue price of 132.40 pence per share for new subscribers, both
of which qualified for the early bird discount. A further 7,806,927
New Shares will be allotted at an issue price of 133.00 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 GBP11.8 million.
Application has been made to the Financial Conduct Authority for
9,097,709 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.
The record date in respect of the dividend of 3.22 pence per
share paid on 28 February 2022 was 4 February 2022, and as a
result, the New Shares did not qualify for this dividend.
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 remain open to new
valid applications for the Company, as well as for Crown Place VCT
PLC, Albion Development VCT PLC and Albion Technology & General
VCT PLC. As at 25 February 2022, the total amount raised across the
six VCTs under the Offers is GBP68.9 million (of which GBP64.5
million relates to this tax year 2021/2022). The Offers are
expected to close no later than 2 p.m. on 30 September 2022 (unless
fully subscribed by an earlier date or previously closed).
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 25 February 2022 consists of
94,988,795 ordinary shares with a nominal value of 1 penny each.
The Company holds 11,641,941 ordinary shares in Treasury.
Therefore, the total number of voting rights in the Company is
83,346,854, 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
28 February 2022
(END) Dow Jones Newswires
February 28, 2022 06:30 ET (11:30 GMT)
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