Albion Tech&Gen VCT Issue Of Equity And Total Voting Rights
April 12 2019 - 2:47AM
UK Regulatory
TIDMAATG
Issue of Equity and Total Voting Rights
ALBION TECHNOLOGY & GENERAL VCT PLC
LEI Code 213800TKJUY376H3KN16
An allotment for the 2019/2020 tax year 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 12
April 2019. This is the final allotment of shares under the Offers.
Pursuant to the Prospectus, 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 who
applied and subscribed for new shares for the first GBP10m by 2 p.m. on
28 February 2019 across the six VCTs participating in the Offers,
including for allotments to be made in the new tax year. 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 and the Company's net asset value as at 31 December 2018
continues to be used for the pricing determination.
The Company has received valid applications for 101,276 new ordinary
shares which will be allotted at an issue price of 78.6 pence per share
from existing shareholders and 4,049 new ordinary shares allotted at an
issue price of 79.0 pence per share for new subscribers, both of which
qualified for the early bird discounts. A further 274,663 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
GBP294,000, bringing net total raised for the Company under the
prospectus to GBP7,804,000.
Application has been made to the Financial Conduct Authority for 379,988
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 16 April 2019.
The Offers, which constitute separate offers, have been fully subscribed
and all have been closed. The total amount raised across the Albion
VCTs under the Offers is GBP48m (of which GBP2.6m 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 12 April 2019 consists of 128,791,886
ordinary shares with a nominal value of 1 penny each. The Company holds
16,757,470 ordinary shares in Treasury.
Therefore, the total number of voting rights in the Company is
112,034,416 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
12 April 2019
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April 12, 2019 02:47 ET (06:47 GMT)
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