Offer Update

RNS Number : 0747G

Income & Growth VCT (the) PLC

27 February 2015

 



Joint Announcement

Offers for Subscription - Mobeus Income & Growth  VCT plc ("MIG"), Mobeus Income & Growth 2 VCT plc ("MIG 2"), Mobeus Income & Growth 4 VCT plc ("MIG 4"),The Income & Growth VCT plc ("I&G") (together "the Companies" and each a "Company")

Further to the launch of offers for subscription to raise, in aggregate, up to £39 million by the Companies ("the Offers" and each an "Offer"), the Companies' Boards are pleased to announce that applications have now been received for the full amount of £15 million available under the MIG Offer. As such, the MIG Offer is now closed for further applications. This announcement follows similar announcements made in respect of the MIG 4 Offer on 18 February, and the MIG 2 and I&G Offers on 23 February 2015 which detailed the respective Companies' Offers closing for further applications. This means that an aggregate total of £39 million of applications for all four Offers has been received, and the Offers are now all closed for further applications.

MIG 4 carried out a second and final allotment, under the MIG 4 Offer, as announced on 18 February 2015. MIG, MIG 2 and I&G will undertake a final and third allotment of shares under their respective Offers, on 10 March 2015.  At that point, each Company will announce the final numbers and issue prices of the shares each has allotted under the third allotment for their Offers and their issued share capital.  Dealings in the shares are expected to commence within three business days thereafter. 

Full details of the Offers are contained in a prospectus ("the Prospectus"), which was published by the Companies on 10 December 2014.

The Prospectus was submitted to the Financial Conduct Authority and copies of the Prospectus are available for download from the Companies' websites:

·      www.migvct.co.uk

·      www.mig2vct.co.uk

·      www.mig4vct.co.uk

·      www.incomeandgrowthvct.co.uk

and from the National Storage Mechanism (http://www.hemscott.com/nsm.do).

For further information, please contact:

Rob Brittain

Mobeus Equity Partners LLP

Telephone: [phone]

 

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