Issue of Equity and Total Voting Rights and Capital
April 14 2023 - 9:30AM
Issue of Equity and Total Voting Rights and Capital
ALBION ENTERPRISE VCT PLC
Issue of Equity and Total Voting Rights
and Capital
LEI Code
213800OVSRDHRJBMO720
The first and final allotment for the 2023/2024
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 2022/23 (the “Offers”),
(which was launched on 10 October 2022) took place on 14 April
2023.
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 £10m 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 structured to avoid any capital dilution to
existing shareholders who do not participate in the Offers.
The Company has received valid applications for
66,837 New Shares which will be allotted at an issue price of
128.90 pence per share from existing shareholders and 37,836 New
Shares allotted at an issue price of 129.50 pence per share for new
subscribers, both of which qualified for the early bird discount. A
further 311,202 New Shares will be allotted at an issue price of
130.20 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 £0.5 million, bringing net total
raised under the prospectus to £16.1 million.
Application has been made to the Financial
Conduct Authority for 415,875 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
ordinary 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 £80 million (of which £2.3 million relates to this
tax year 2023/2024).
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 14 April 2023
consists of 115,851,291 ordinary shares with a nominal value of 1
penny each. The Company holds 14,558,366 ordinary shares in
Treasury.
Therefore, the total number of voting rights in
the Company is 101,292,925, 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 HansraniOperations PartnerAlbion Capital
Group LLPCompany Secretary 020 7601 185014 April 2023
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