DDV1 Downing One Vct Plc

 
TIDMDDV1 
 
   Downing ONE VCT plc ("the Company") 
 
   7 September 2017 
 
   Publication of prospectus (correction) 
 
   The announcement released by the Company at 18:03 today entitled 
"Publication of prospectus" contained some incorrect wording in the 
description of the smaller related party transaction. 
 
   The full announcement with corrected wording is as follows: 
 
   The Company has today issued a prospectus relating to an offer for 
subscription for ordinary shares of 1p each in the Company ("New 
Shares") to raise up to GBP20 million (the "Offer") (equivalent to 
approximately 21,548,821 Shares), following the approval of the 
prospectus from the UK Listing Authority. The offer also includes an 
overallotment facility to issue up to a further GBP10 million worth of 
New Shares. 
 
   Pursuant to an agreement dated 7 September 2017 relating to the Offer, 
between the Company and Downing LLP (the "Investment Adviser"), the 
Company's investment adviser, and which constitutes a smaller related 
party transaction within Listing Rule 11.1.10 R, the Investment Adviser 
will receive: 
 
 
   -- 2.0% of the amounts subscribed under the Offer by, and issued to Direct 
      Investors (those who subscribe without an IFA) and Retail Client 
      Investors; 
 
   -- 4.0% of the amounts subscribed under the Offer by, and issued to, 
      Execution-Only Investors and (prior to 3 January 2018) Professional 
      Client Investors; and 
 
   -- 0.25% per annum of the NAV of the Offer Shares for a maximum of five 
      years, out of which Downing will pay annual trail commission to the 
      independent financial intermediaries of Professional Client Investors and 
      Execution-Only Investors. 
 
 
   The Offer is now open and will close at 3.00 pm on 5 April 2018 for the 
2017/2018 tax year and 3.00 pm on 30 April 2018 for the 2018/2019 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 31 August 2018). 
 
   The Prospectus has 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: 
http://www.morningstar.co.uk/uk/NSM 
 
   A copy of the Prospectus is available, free of charge from the Company's 
registered office, Ergon House, Horseferry Road, London SW1P 2AL and on 
Downing's website at https://www.downing.co.uk/d1offer 
 
   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 ONE VCT plc via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

September 07, 2017 13:47 ET (17:47 GMT)

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