Albion Tech&Gen VCT Issue Of Equity And Total Voting Rights

 
TIDMAATG 
 
 
   Issue of Equity and Total Voting Rights 
 
   ALBION TECHNOLOGY & GENERAL VCT PLC 
 
   LEI Code 213800TKJUY376H3KN16 
 
   The first allotment of new ordinary shares of nominal value 1 penny per 
share in Albion Technology & General VCT PLC (the "Company") under the 
Albion VCTs Prospectus Top Up Offers 2018/19 (the "Offers"), (which was 
launched on 7 January 2019) took place on 1 April 2019, for the 
2018/2019 tax year. 
 
   Pursuant to the Prospectus dated 7 January 2019, the Company offered a 
1% discount on issue costs to existing shareholders and 0.5% discount on 
issue costs to new subscribers. These early bird discounts were 
available to investors subscribing for new shares for the first GBP10m 
by 2 p.m. on 28 February 2019, 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 1,188,131 new ordinary 
shares which will be allotted at an issue price of 78.6 pence per share 
from existing shareholders and 287,073 new ordinary shares allotted at 
an issue price of 79.0 pence per share for new subscribers, both of 
which qualified for early bird discounts. A further 6,429,303 new 
ordinary shares will be allotted at an issue price of 79.4 pence per 
share (which did not qualify for the early bird discounts). The total 
net proceeds receivable by the Company for these allotments is 
approximately GBP6,120,000. 
 
   Application has been made to the Financial Conduct Authority for 
7,904,507 new ordinary shares to be admitted to the Official List, to 
the London Stock Exchange and 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 new shares will commence on or before 8.00 a.m. on 4 April 2019. 
 
   The Offers constitute separate offers made by each of the Albion VCT's. 
As at 1 April 2019, the amount raised in total across the Albion VCTs 
under the Offers was GBP44m (of which GBP2.5m relates to tax year 
2019/2020) and the Offers will remain open until 2 p.m. on 30 September 
2019 (unless fully subscribed before this date). 
 
   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 1 April 2019 consists of 126,616,096 
ordinary shares with a nominal value of 1 penny each. The Company holds 
16,511,470 ordinary shares in Treasury. 
 
   The total number of voting rights in the Company is 110,104,626, 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 
 
   2 April 2019

(END) Dow Jones Newswires

April 02, 2019 06:47 ET (10:47 GMT)

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