Publication of Prospectus

Molten Ventures VCT plc (“the Company")
LEI: 2138003I9Q1QPDSQ9Z97
27 October 2022
P ublication of P rospectus

The Company has today issued a prospectus (the "Prospectus") relating to an offer for subscription for ordinary shares of 5p each in the Company ("New Shares") to raise up to £30 million (with an over-allotment facility of up to an additional £10 million) (the "Offer") following the approval of the Prospectus by the Financial Conduct Authority. A maximum of up to 80 million shares will be available under the Offer.

Promoter Agreement
Under the proposed Promoter Agreement, the Company will pay to Elderstreet Investments Limited (“the Manager”) a promoter’s fee of 3.0% of the amount subscribed under the Offer through intermediaries (3.5% direct). From this, the Manager will pay all of the costs and expenses (save for commission and adviser charges payable to intermediaries) of the Offer and will contribute to such costs should they exceed the promoter’s fee actually received. The Promoter Agreement contains standard provisions indemnifying the Manager against any liability not due to its default, gross negligence, fraud or breach of FSMA.

Early investors may receive a 0.25% rebate from the promoter's fee, which will be applied for additional New Shares through the application of a pricing formula, where their Application Form is received and accepted by the Company before midnight on 16 December 2022 and forms part of the first £10 million of gross applications under the Offer.

Smaller R elated Part y transaction
The Manager is a related party of the Company. As such, this transaction is a smaller related party transaction as defined in LR11.1.10R. The Company has obtained written confirmation from its sponsor, SPARK Advisory Partners Limited, that the terms of the Promoter Agreement are fair and reasonable as far as the shareholders of the Company are concerned.

The Offer will open on 27 October 2022 and will close at 10.00 a.m. on 5 April 2023 for the 2022/2023 tax year and 4.00 p.m. on 30 June 2023 for the 2023/2024 tax year, or earlier if the Offer is fully subscribed. The board of the Company reserves the right to close the Offer earlier or to extend the Offer to no later than 26 October 2023.

The Prospectus has been submitted to the Financial Conduct Authority and copies of the Prospectus will shortly be available for download from the Company's website https://investors.moltenventures.com/investor-relations/vct, and the Administration Manager’s website at https://www.downing.co.uk/existing-investor/molten-ventures-vct-plc and from the National Storage Mechanism at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.