Issue of Equity

RNS Number : 6128H

Income & Growth VCT (The) PLC

13 March 2018

 

The Income & Growth VCT plc (the "Company")

13 March 2018

Issue of Equity

The Company announces that on 13 March 2018 it allotted and issued 7,835,932 new Ordinary Shares of 1p each ("Shares").  These new Shares in the Company have been issued pursuant to the Offer for subscription with Mobeus Income & Growth VCT plc, Mobeus Income & Growth 2 VCT plc and Mobeus Income & Growth 4 VCT plc, launched on 6 September 2017, to raise up to £80 million in aggregate ("the Offer"). 

In accordance with the allotment formula set out in the prospectus for the Offer, the Shares were issued at prices of between 79.29 pence and 85.28 pence per Share, depending on the adviser charge (if applicable) and the number of shares issued (after taking roundings into account) pertaining to each application. 

Application has been made for the new Ordinary Shares to be admitted to the Official List of the UK Listing Authority and dealings are expected to commence on or around 20 March 2018.

Following this allotment, the issued share capital of the Company is 105,752,973 Ordinary Shares of 1p each.

In accordance with the terms of the Offer, the maximum value of subscriptions in respect of the Company, totalling £25 million, has now been reached.  The Board announces that the Company's Offer is therefore closed.

For further information please contact:

Robert King at Mobeus Equity Partners LLP,

Company Secretary, on 020 7024 7600.

 

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