Issue of Equity

Downing FOUR VCT plc
LEI: 21380035MV1VRYEXPR95
22 February 2021
Issue of Equity

The Directors of Downing FOUR VCT plc announce an allotment on 22 February 2021 of Generalist Shares of 0.1p each (“Generalist Shares”) and Healthcare Shares of 0.1p each (“Healthcare Shares”) pursuant to the Offers for Subscription that opened on 27 February 2020 (“Offers”) as follows:

Date	Generalist  Shares	Average  issue price  per share		Healthcare  Shares	Average  issue price  per share
22 February 2021	672,873	62.10p		177,953	66.04p

Application for these shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities will be made shortly. Dealings are expected to commence on or around 26 February 2021.

Following these allotments, the issued share capital and total voting rights (excluding management shares) of the Company are summarised follows:

	Shares in issue	Voting  rights per share	Voting rights
DSO D Shares of 0.1 pence each	7,867,247	232	1,825,201,304
DP67 Ordinary Shares of 0.1 pence each	11,192,136	375	4,197,051,000
Generalist Shares of 0.1 pence each	47,308,832	860	40,685,595,520
Healthcare Shares of 0.1 pence each	19,230,091	860	16,537,878,260
Total voting rights			63,245,726,084

Included in these issues of equity under the Offers were allotments of Generalist Shares to PDMRs as follows:

Director / PDMR		Generalist Shares issued	Issue price
Sir Aubrey Brocklebank	Director	32,679	61.2p

Following these allotments, above PDMRs had the following holdings in the Company's Generalist and Healthcare Shares:

Director / PDMR		Generalist  Shares held	Healthcare Shares in held	% of Total Voting rights
Sir Aubrey Brocklebank	Director	32,679	5,000	0.05%
		0.07%	0.02%