Offer for subscription

RNS Number : 7166D

Amati VCT 2 plc

28 October 2015

 

Amati VCT 2 plc 28 October 2015 Offer for Subscription The Directors of Amati VCT 2 plc (the "Company") are pleased to announce that, together with Amati VCT plc, it has today published a top up offer document (the "Offer Document") in connection with proposals to raise up to approximately £3.5m for each Company, or £7 million in aggregate, through offers for subscription of new ordinary shares (the "Offers"). The Offers open on Wednesday 28 October 2015 and are expected to close at noon on Wednesday 30 March 2016 in respect of the 2015/2016 tax year and at noon on Friday 15 July 2016 in respect of the 2016/2017 tax year (or on an earlier date in each tax year if the maximum subscription is received). The Offers will be managed in accordance with the limits applicable to non-prospectus share offers and applications will be accepted on a first come, first served basis, subject to the discretion of the Directors. The new ordinary shares will be issued at a price determined in accordance with a formula to allow for issue costs (as set out in the Offer Document) and based on the last published net asset value per share ("NAV per Share") of the Company prior to the date of issue.  The NAV per Share will be divided by 0.99 to determine the issue price for applications from existing shareholders and shares issued in respect of applications received through authorised financial intermediaries, which allows for issue costs of 1%.  For other applications the NAV per Share will be divided by 0.97 to determine the issue price, which allows for issue costs of 3%. Upon issue the new ordinary shares will be admitted to the Official List of the UKLA and to trading on the main market of the London Stock Exchange. The Offer Document can be downloaded from www.amatiglobal.com and will also be submitted to the National Storage Mechanism for viewing online at www.morningstar.co.uk/uk/NSM. For further information please contact Rachel Le Derf on 0131 503 9104 or email [e-mail].

 

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