Issue of Equity

Pembroke VCT PLC

05 April 2024

 

Pembroke VCT plc (the "Company")

Issue of B Ordinary Shares of 1p each ("B Ordinary Shares") pursuant to an Offer for Subscription for up to £40 million of B Ordinary Shares with an over-allotment facility for up to a further £20 million of B Ordinary Shares (the "Offer")

On 5 April 2024, 6,726,385 B Ordinary Shares (the "Shares") were allotted pursuant to the Offer. In accordance with the terms and conditions of the Offer, the offer prices at which the Shares were allotted were calculated by reference to the unaudited net asset value of a B Ordinary Share in the Company as at 31 December 2023 of 105.20p, adjusted for the dividend with a record date of 22 March 2024 and payable on 23 April 2024 of 2.00p per B Ordinary Share.  The offer prices at which the Shares were issued and allotted ranged from 105.31p to 111.34p per B Ordinary Share.

Following the allotment above, the total number of B Ordinary Shares in issue is 220,994,803.  Therefore, the total number of voting rights in the Company is 220,994,803.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change of interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Application for the Shares to be admitted to the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities will be made shortly and dealings are expected to commence on or around 9 April 2024.  CREST accounts are expected to be credited as soon as practicable following the allotment and definitive documents of title are expected to be dispatched within ten business days of allotment.

Following this allotment, the total number of shares issued pursuant to the Offer is 32,297,111 B Ordinary Shares. 

For further information, please contact:

Andrew Wolfson / Chris Lewis

Pembroke Investment Managers LLP (Manager)

[phone]

Robin Smeaton

The City Partnership (UK) Limited (Company Secretary)

[e-mail]

Keith Lassman

Howard Kennedy Corporate Services LLP

[e-mail] 

Seven Hills

Leigh Marshall

M: [phone]

E: [e-mail]

 

END