Elderstreet VCT plc : Top-Up Offer for Subscrip...

Elderstreet VCT plc
22 December 2015
Top-Up Offer for Subscription

The board of Elderstreet VCT plc (the "Company") is pleased to announce that the Company has today published a top-up offer document (the "Top-Up Offer Document") relating to a Top-Up Offer for the subscription in respect of new ordinary shares (the "Top-Up Offer").

The Top-Up Offer will open on 22 December 2015.  In respect of the 2015/16 tax year, the Top-Up Offer will close at 4:00 pm on 5 April 2016 and, in respect of the 2016/17 Tax Year, it will close at 4.00 p.m. on 29 April 2016 (unless extended or fully subscribed earlier). The Top-Up Offer is seeking to raise up to £364,000. This is in additional to funds being raised under the Offer for Subscription that launched on 14 December 2015.

Pursuant to the terms set out in the Top-Up Offer Document, Elderstreet Investments Limited ("EIL"), the investment manager of the Company, will receive commission (the "Promoter's Fee") from the Company of up to 5.5% of the application amount due from an applicant in relation to their application for new ordinary shares made under the Top-Up Offer. The amount of Promoter's Fee for any particular type of applicant is as set out in the Top-Up Offer Document.

Out of its Promoter's Fee, EIL has agreed to be responsible for paying the costs of the Top-Up Offer (excluding any initial commissions or adviser charges payable in relation to applications (which are facilitated through the pricing formula set out in the Top-Up Offer Document), any trail commission payable in the future and the registrar's costs in issuing the applicable share certificates which will be payable by the Company).  EIL will also meet the cost of the early investment incentive set out in the Top-Up Offer Document.

As EIL is a related party of the Company under the Listing Rules, the payment of the Promoter's Fee by the Company to EIL is a transaction to which Listing Rule 11.1.10R applies.

A downloadable version of the Top-Up Offer Document is available from www.elderstreet.com. The Top-Up Offer Document will also be submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Elderstreet VCT plc via Globenewswire

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