Hargreave Hale AIM 1 Hargreave Hale Aim Vct 1 Plc : Offer Update
September 18 2017 - 4:29AM
UK Regulatory
TIDMHHV
Hargreave Hale AIM VCT 1 plc and Hargreave Hale AIM VCT 2 plc
18 September 2017
Announcement of Intention to Utilise Over-Allotment Facility and Offer
Update
On 14 December 2016, Hargreave Hale AIM VCT 1 plc and Hargreave Hale AIM
VCT 2 plc (together "the Companies") launched an offer for subscription
of ordinary shares of 1p each to raise in aggregate up to GBP20 million
("the Offers" and each an "Offer"). Full details of the Offers are
contained in a prospectus ("the Prospectus") which was published by the
Companies on 14 December 2016.
On 9 March 2017 Hargreave Hale AIM VCT 1 plc announced that it had
received applications in excess of GBP10 million and, accordingly, the
directors of Hargreave Hale AIM VCT 1 plc announced that they intended
to utilise the GBP5 million Over-Allotment Facility. On 15 March 2017
Hargreave Hale AIM VCT 1 plc announced that the Company had received
applications in excess of the GBP5 million Over-Allotment Facility and,
therefore, the Offer for Hargreave Hale AIM VCT 1 plc was closed.
On 9 March 2017, the directors of Hargreave Hale AIM VCT 2 plc announced
that the Hargreave Hale AIM VCT 2 plc Offer was fully allocated in
respect of the GBP10 million initially sought and that it did not intend
to use its Over-Allotment Facility in relation to the 2016/2017 tax
year; they reserved the right to utilise the Over-Allotment Facility in
relation to the Offer in the 2017/2018 tax year. The directors of
Hargreave Hale AIM VCT 2 plc are now pleased to announce their intention
to utilise the Over-Allotment Facility and increase the size to GBP7.5
million. A supplementary prospectus will be issued shortly.
The directors of Hargreave Hale AIM VCT 1 plc will confirm their
fundraising strategy shortly which, in addition to raising further
capital for its existing investment strategy, may also include the
creation of a new class of share to facilitate further investment into
private companies. A further announcement will be issued in due course.
For further information please contact:
Stuart Brookes
Company Secretary - Hargreave Hale AIM VCT 1 and 2 Plc
Tel 0207 009 4987
snb@hargreave.com
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: Hargreave Hale AIM VCT 1 plc via Globenewswire
https://hargreaveaimvcts.co.uk/
(END) Dow Jones Newswires
September 18, 2017 04:29 ET (08:29 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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