Albion Ven Cap Trust Issue Of Equity And Total Voting Rights
April 06 2016 - 09:15AM
UK Regulatory
TIDMAAVC
ALBION VENTURE CAPITAL TRUST PLC
The first allotment for the tax year 5 April 2017, of New Ordinary
shares of nominal value 1 penny per share in Albion Venture Capital
Trust PLC (the "Company") under the Albion VCTs Prospectus Top Up Offers
2015/2016 (the "Offers"), (which was launched on 17 November 2015) took
place on 6 April 2016. This is the final allotment of shares under the
Offers.
Pursuant to the Prospectus, for applications received before 29 January
2016, the Company offered a 1% discount on issue costs to existing
shareholders and 0.5% discount on issue costs to new subscribers. The
cost of these discounts is being borne by the Manager, Albion Ventures
LLP. The Company has received applications for 245,265 New Ordinary
shares at an issue price of 72.0 pence per share from existing
shareholders, 9,897 New Ordinary shares at an issue price of 72.4 pence
per share for new subscribers and a further 107,001 New Ordinary shares
at an issue price of 72.8 pence per share, which was not subject to a
discount. The net proceeds for this allotment by the Company are
approximately GBP256,000.
Application has been made to the Financial Conduct Authority for 362,163
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 8 April 2016.
As at this allotment on 6 April 2016, the total raised by the Company
under its Offer was GBP5,855,000.
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 GBP36 million.
Following this allotment and in conformity with the provisions of DTR
5.6, we would like to notify the market of the following:
The Company's capital as at 6 April 2016 consists of 86,444,102 Ordinary
shares with a nominal value of 1 penny each. The Company holds 6,954,440
Ordinary shares in Treasury.
Therefore, the total number of voting rights in the Company is
79,489,662, which may be used by shareholders or 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 and Transparency Rules.
For further information, please contact:
Patrick Reeve
020 7601 1850
6 April 2016
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Albion Venture Capital Trust PLC via Globenewswire
HUG#2001232
http://www.closeventures.co.uk
(END) Dow Jones Newswires
April 06, 2016 09:15 ET (13:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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