Statement re Offer for Subscription

Fuel Ventures VCT PLC

31 October 2024

 

Fuel Ventures VCT plc (the "Company")

Utilisation of over-allotment facility

On 15 December 2023 the Company launched an offer for subscription (the "Offer") seeking to raise £10 million in aggregate initially.

Following the successful launch, with applications received to date approaching £10 million and considering the continuing level of demand, the Company has today confirmed the use of £5 million of the over-allotment facility of £40 million included in the Offer. This increases the maximum amount which can be raised under the Offer to £15 million in aggregate.

Of the monies already subscribed, a total of £2.79 million has been invested in the following seven companies:

Hotel Manager (Remotioned Technologies Group Limited);

FundPath (Fundpath Limited);

SearchLand (Searchland Limited);

Lunio (PPC Protect Limited);

StudioSpace (Studiospace Technology Limited);

Wollit (Wollit Limited); and

Eleos (Eleos Life Limited).

The closing date of the Offer is Friday 29 November 2024.  Completed paper/pdf/scanned (offline) applications with cleared funds have to be received by no later than 5.00pm on 29 November 2024; and completed online applications with cleared funds also have to be received by no later than 5.00pm on 29 November 2024.

The Prospectus is available from the Company's website:

www.fuel.ventures/vct-fund

and is also available for inspection at the National Storage Mechanism, which is located at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

For further information, please contact:

Stan Williams

Fuel Ventures VCT plc

[e-mail]

Robin Smeaton

The City Partnership (UK) Limited (Company Secretary)

[e-mail]

Keith Lassman

Howard Kennedy Corporate Services LLP

[e-mail]

 

END