Fundraising Update, Circular and General Meetings

RNS Number : 4522K

Income & Growth VCT (The) PLC

07 July 2017

 

Mobeus Income & Growth VCT plc

Mobeus Income & Growth 2 VCT plc

Mobeus Income & Growth 4 VCT plc

The Income & Growth VCT plc

(together the "Companies" and each a "Company")

Joint Announcement - Fundraising Update, Circular and General Meetings

On 24 May 2017, the boards of directors of the Companies ("Boards") each announced their intention to raise funds through offers for subscription ("Offers"). It is anticipated that the prospectus in relation to the Offers will be available in September. The maximum amount each Board will be seeking to raise is set out below:

Company	MIG	MIG 2	MIG 4	I&G
Expected maximum Offer size*	£25 million	£15 million	£15 million	£25 million

*These are the Boards' current intentions regarding the expected maximum Offer sizes.

As the Companies currently have limited authority from shareholders of the Companies to allot (having disapplied pre-emption rights) shares for the purposes of the proposed Offers, each Company intends to seek additional shareholders' authorities.

A joint circular ("Circular") issued by the Companies has been posted to shareholders today to convene the general meetings ("General Meetings" and each a "General Meeting") to be held on 3 August 2017 at the offices of Mobeus Equity Partners LLP, 30 Haymarket, London SW1Y 4EX as follows:

·      MIG General Meeting to be held at 9.30 a.m.

·      MIG 2 General Meeting to be held at 10.30 a.m.

·      MIG 4 General Meeting to be held at 11.30 a.m.

·      I&G General Meeting to be held at 12.30 p.m.

At each General Meeting, a resolution will be proposed to seek authority from that Company's shareholders to allot shares (having dis-applied pre-emption rights) in the relevant Company. Further explanation of these resolutions can be found in Part II of the Circular. 

Copies of the Circular will shortly be available for download from the Mobeus website (www.mobeusequity.co.uk/vct-investors) and from the National Storage Mechanism (http://www.hemscott.com/nsm.do).

For further information, please contact:

Mobeus Equity Partners LLP

Rob Brittain

Telephone: [phone]

 

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