Downing ONE VCT plc : Publication of Prospectus

Downing ONE VCT plc ("the "Company")
14 December 2015

Publication of prospectus

The Company has today issued a prospectus relating to an offer for subscription for ordinary shares of 1p each in the Company ("New Shares") to raise up to £15 million (the "Offer"), following the approval of the prospectus from the UK Listing Authority. The offer includes an overallotment facility to issue up to a further £15 million worth of New Shares.

Pursuant to an agreement dated 14 December 2015 relating to the Offer, between the Company and Downing LLP (the "Investment Adviser"), the Company's investment adviser, and which constitutes a smaller related party transaction within Listing Rule 11.1.10 R, the Investment Adviser will receive:

• 2.0% of the Net Asset Value ("NAV") per Offer Share for each Offer Share subscribed under the Offer by, and issued to, Execution-Only Investors, Professional Client Investors and Retail Client Investors;
   
• 4.0% of the NAV per Offer Share for each Offer Share subscribed under the Offer by, and issued to, Investors who subscribe directly (without an IFA).
   
• 0.25% per annum of the NAV of the Offer Shares for a maximum of five years, out of which Downing will pay annual trail commission to the independent financial intermediaries of Professional Client Investors and Execution-Only Investors.

The Offer is now open and will close at 3.00 pm on 5 April 2016 for the 2015/2016 tax year and 3.00 pm on 29 April 2016 for the 2016/2017 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 30 November 2016).

The Prospectus has been approved by the UK Listing Authority and will shortly be available to view at the online viewing facility of the National Storage Mechanism at the following website address: http://www.morningstar.co.uk/uk/NSM.

A copy of the Prospectus is available, free of charge the Company's registered office, Ergon House, Horseferry Road, London SW1P 2AL and on Downing's website, www.downing.co.uk

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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: Downing ONE VCT plc via Globenewswire

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