AAVC Albion Venture Capital Trust Plc

 
TIDMAAVC 
 
 
   ALBION VENTURE CAPITAL TRUST PLC 
 
   The first allotment for the 2017/2018 tax year, 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 2016/2017 
(the "Offers"), (which was launched on 29 November 2016) took place on 7 
April 2017. 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 who subscribed for the first GBP7.5m before 31 January 2017. 
The early bird discount were available to investors who applied to 
subscribe for New Shares for the first GBP7.5m across the six VCTs 
participating in the Offers. The cost of these discounts is being borne 
by the Manager, Albion Ventures LLP. 
 
   The Company has received valid applications for 52,543 New Ordinary 
shares at an issue price of 74.5 pence per share from existing 
shareholders and 29,427 New Ordinary shares at an issue price of 74.9 
pence per share for new subscribers, all of which qualified for the 
early bird discount. A further 284,008 New Ordinary shares are to be 
allotted at an issue price of 75.3 pence per New Ordinary share (which 
did not qualify for the early bird discounts). The net proceeds for this 
allotment by the Company are approximately GBP267,000 bringing total net 
proceeds raised under the Offers for the Company of GBP5,832,000. 
 
   The Offers which constitute separate offers have been fully subscribed 
and the total amount raised across the Albion VCTs under the Offers is 
GBP34 million (gross). 
 
   Application has been made to the Financial Conduct Authority for 365,978 
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. 
 
   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 7 April 2017 consists of 95,422,405 Ordinary 
shares with a nominal value of 1 penny each. The Company holds 8,263,188 
Ordinary shares in Treasury. 
 
 
 
   Therefore, the total number of voting rights in the Company is 
87,159,217 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: 
 
   Albion Ventures LLP 
 
   020 7601 1850 
 
   7 April 2017 
 
   LEI Code 213800JKELS32V2OK421 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq 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 
 
 
  http://www.closeventures.co.uk 
 

(END) Dow Jones Newswires

April 07, 2017 03:27 ET (07:27 GMT)

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