Pembroke VCT PLC New share offer (2002R)
September 19 2017 - 10:45AM
UK Regulatory
TIDMPEMV TIDMPEMB
RNS Number : 2002R
Pembroke VCT PLC
19 September 2017
19 September 2017
Pembroke VCT plc
New share offer
The board of directors of Pembroke VCT plc (the "Company") is
pleased to announce a new offer for subscription of B Ordinary
Shares of up to GBP20 million, with an over-allotment facility of
up to GBP10 million. It is expected that the new share offer will
be available for subscription from November 2017.
The Company has raised approximately GBP42.8 million (net of
costs) since its inaugural offer for subscription in February 2013.
As at 30 June 2017, the Company had invested GBP27.3 million in a
diverse portfolio of 26 investments with GBP15.0 million from the
Ordinary Share class and GBP12.2 million in the B Ordinary Share
class.
The B Ordinary Shares are an existing class of share which at 30
June 2017 had an unaudited net asset value of 103.30 pence per
share (prior to payment of a final dividend of 2 pence per share to
be paid on 27 October 2017).
The new offer will provide investors with immediate access to an
existing portfolio of assets in the B Ordinary Share class
including high growth opportunities such as Plenish, Sourced Market
and Alexa Chung. The Company has also begun the process of
realising value from its investments, offering investors the
potential to benefit from any sales and reinvestment within the B
Ordinary Share portfolio.
Pembroke's focus on providing development capital to promising
growth opportunities allows investors access to an effective
investment strategy centred on a carefully selected portfolio of
apparel, leisure, hospitality and technology investments, while
allowing them to benefit from the tax benefits available to
investors in venture capital trusts.
For further information, please contact:
Pembroke VCT plc
+44 20 7766 6900
Peter Dubens
Cornerstone Communications
+44 7917 080 365
Richard Acworth
Oakley Investment Managers LLP (Manager)
+44 20 7766 6900
Andrew Wolfson / Simon Male
The City Partnership (UK) Limited (Company Secretary)
+44 131 510 7465
Doreen Nic
This information is provided by RNS
The company news service from the London Stock Exchange
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