Net Asset Value and Offer Update

RNS Number : 5992H

Unicorn AIM VCT PLC

25 March 2020

 

Unicorn AIM VCT plc (the "Company")

LEI: 21380057QDV7D34E9870

Net Asset Value and Offer Update

Yesterday the Company published its net asset value per share ("NAV") of 119.6p as at 23 March 2020, a reduction of 46.1p in the NAV of 165.7p as at 29 February 2020.  This fall of 27.8% reflected valuation reductions generally across the investments in the portfolio as a result of the market volatility arising from the impact of the Coronavirus (Covid-19) pandemic affecting all businesses including those in which the Company invests.

In light of the updated NAV, the Company is required to publish a supplementary prospectus ("Supplementary Prospectus") in connection with the offer for subscription contained in the prospectus dated 11 February 2020 ("Offer") as soon as possible. 

As a result of the above, the allotment scheduled for today, 25 March 2020, will be delayed until after the publication of the Supplementary Prospectus.  Once the Supplementary Prospectus has been published the Company now intends to make one allotment for the 2019/2020 tax year.  Valid applications (which requires the receipt of cleared funds) received by 5.30pm on 2 April 2020, are intended to be processed and allotted on 3 April 2020, based on an unaudited net asset value calculated as at the close of markets on 31 March 2020.

The Offer will remain open until 30 June 2020 unless the over-allotment facility is fully subscribed before this date or otherwise at the Board's discretion.

For further information please contact:

Chris Hutchinson at Unicorn Asset Management Limited (the Company's investment manager) on 020 7253 0889

ISCA Administration Services Limited (the Company Secretary) on

01392 487056 ; or  [e-mail]

 

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STRUVOSRRAUOUAR