Offer Update - Close of Applications for Offer

RNS Number : 8688O

Unicorn AIM VCT PLC

11 February 2021

 

Unicorn AIM VCT plc

LEI: 21380057QDV7D34E9870

Update on Offer for Subscription

On 28 January 2021, Unicorn AIM VCT plc (Company) issued a prospectus (Prospectus) containing an offer for subscription (Offer) to raise up to £15 million, through the issue of up to, in aggregate, 15 million new shares (New Shares).

Following strong support, applications have been received for in excess of the £15 million available. As a result, the Offer is now closed for applications.

As detailed in the Prospectus, applications under the Offer received from existing shareholders by 5.30 p.m. on 11 February 2021 will be given priority (Existing Shareholder Priority Period).  As at the end of the Priority Period, valid applications amounting to approximately £13.8m had been received from Existing Shareholders.

Eligibility for the Existing Shareholder Priority Period is subject to receipt of cleared funds in respect of such applications by no later than 5.30 p.m. on 18 February 2021.

Subject to the discretion of the Company's board of directors (Board), the Company will otherwise accept applications under the Offer on a first-come, first-served basis (provided cheques are not post-dated) and with priority given to applications with cleared funds.

In view of the Offer having closed for applications early, the Company intends to bring forward the allotment of New Shares, in respect of successful applications related to the 2020/21 tax year, to 19 February 2021. The number of New Shares to be allotted to successful applicants will be determined by the allotment formula as detailed in the Prospectus, with reference to the unaudited NAV per Share as at the close of business on 15 February 2021.

The Company intends to allot New Shares, for successful applications related to the 2021/22 tax year, on or around 8 April 2021. The number of New Shares to be allotted to successful applicants will be determined by the allotment formula as detailed in the Prospectus with reference to the unaudited NAV per Share as at the close of business on 31 March 2021.

Unsuccessful applicants will be notified by The City Partnership (UK) Limited, the receiving agent to the Offer, as soon as practically possible, with application funds returned where applicable.

For further information, please contact:

Investment Manager and Promoter to the Company

Unicorn Asset Management Limited

Telephone: [phone]

Email: [e-mail]

Distributor to the Offer

LGBR Capital LLP

Telephone: [phone]

Email: [e-mail]

Receiving Agent

The City Partnership (UK) Ltd

Telephone: [phone]

Email: [e-mail]

 

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