Offer for Subscription

Puma VCT 13 PLC

24 September 2024

 

Puma VCT 13 plc (the "Company")

Offer for Subscription

A prospectus relating to an offer for subscription of up to £50,000,000 of ordinary shares of £0.0005 each, payable in full in cash on application, together with an over-allotment facility for up to a further £20,000,000 of ordinary shares (the "Offer"), was issued by the Company on 24 September 2024 (the "Prospectus").

The Offer will open on 24 September 2024 and is expected to close no later than 5 April 2025 for shares to be allotted in the 2024/25 tax year and, if the Offer is extended beyond that date by the directors, no later than 11 September 2025 for shares to be allotted in the 2025/26 tax year (unless fully subscribed by an earlier date or previously extended by the directors to no later than 19 September 2025).

Pursuant to an offer agreement dated 24 September 2024 relating to the Offer between, among others, the Company and Puma Investment Management Limited ("PIML"), PIML, as the promoter of the Offer, will receive a promoter fee of up to 3% of the aggregate amount received by the Company under the Offer.  PIML, as the investment manager of the Company, is a related party of the Company under Listing Rule 11.5.3R, and the payment of such a fee by the Company to PIML is a related party transaction of an adequate size under UK Listing Rule 11.5.6R for UK Listing Rule 8.2.1R to apply. The Board considers this transaction fair and reasonable as far as the shareholders of the Company are concerned and have been provided with written confirmation of this by the Company's sponsor, Howard Kennedy Corporate Services LLP.

A copy of the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for viewing online at the following website address: https://data.fca.org.uk/#/nsm/nationalstoragemechanism. 

Copies of the Prospectus are also available free of charge from the office of the Company's investment manager, Puma Investment Management Limited, Cassini House, 57 St James's Street, London SW1A 1LD.

For further information please contact Rupert West on 0207 408 4050.

 

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