Downing FOUR VCT plc Downing Four Vct Plc : Publication Of Prospectus And Circular
December 08 2016 - 1:24PM
UK Regulatory
TIDMD467
Downing FOUR VCT plc ("the Company")
8 December 2016
Publication of prospectus and circular
The Company has today issued a prospectus ("Prospectus") and circular
("Circular") relating to two offers for subscription in respect of two
new share classes; Generalist ordinary shares of 0.1p each in the
Company ("Generalist Shares") to raise up to approximately GBP20 million
and Healthcare ordinary shares of 0.1p each in the Company ("Healthcare
Shares") to raise up to approximately GBP10 million (together the
"Offers"), following the approval of the prospectus and circular by the
UK Listing Authority. The Offers include an overallotment facility
allowing the issue of up to a further GBP10 million worth of each of
Generalist Shares and Healthcare Shares.
Because Downing LLP, as investment manager of the Company, is considered
to be a related party under the Listing Rules, the new fee arrangements
for the two new share classes described in the Prospectus and Circular,
comprising a promoter's fee and the investment management and
administration arrangements, and the performance incentive fees
arrangements will constitute a related party transaction under the
Listing Rules ("Related Party Transaction"). Shareholder approval of the
Related Party Transaction will be sought at a General Meeting to take
place on 16 January 2017.
The Offer is now open and will close at 3.00 pm on 5 April 2017 for the
2016/2017 tax year and 3.00 pm on 30 September 2017 for the 2017/2018
tax year, or earlier if the Offer is fully subscribed. The board of the
Company reserves the right to close the Offer earlier or to extend the
Offer (to no later than 30 November 2017).
The Prospectus and Circular have been approved by the UK Listing
Authority and will shortly be available to view at the online viewing
facility of the National Storage Mechanism at the following website
address: www.morningstar.co.uk/uk/NSM.
Copies of the Prospectus and Circular will be available, free of charge
from the Company's registered office, Ergon House, Horseferry Road,
London SW1P 2AL and on Downing's website, www.downing.co.uk
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: Downing FOUR VCT plc via Globenewswire
(END) Dow Jones Newswires
December 08, 2016 13:24 ET (18:24 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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