Fundraising Update, Circular and General Meetings

RNS Number : 8727L

Income & Growth VCT (The) PLC

10 September 2019

 

Mobeus Income & Growth VCT plc (MIG)

Mobeus Income & Growth 2 VCT plc (MIG2)

Mobeus Income & Growth 4 VCT plc (MIG4)

The Income & Growth VCT plc (I&G)

(together the Companies and each a Company)

Joint Announcement - Fundraising Update, Circular and General Meetings

On 29 July 2019, the boards of directors of the Companies each announced their intention to raise funds through offers for subscription (together the Offers and each an Offer). It is anticipated that the prospectus in relation to the Offers will be available in October. The maximum amount each Company will be seeking to raise is set out below:

Company	MIG	MIG 2	MIG 4	I&G
Offer size	£10 million (with an over-allotment facility of £5 million)	£15 million (with an over-allotment facility of £5 million)	£8 million (with an over-allotment facility of £5 million)	£5 million (with an over-allotment facility of £5 million)

As MIG, MIG 2 and MIG 4 currently have limited shareholder authority to allot (having disapplied pre-emption rights) shares for the purposes of the proposed Offers, each of those Companies intends to seek additional authority from its shareholders.

A joint circular (Circular) issued by MIG, MIG 2 and MIG 4 has been posted to shareholders today to convene general meetings (together the General Meetings and each a General Meeting) to be held on 11 October 2019 at the offices of Shakespeare Martineau LLP, 60 Gracechurch Street, London EC3V 0HRas follows:

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

·      MIG 2 General Meeting to be held at 10.00 a.m.

·      MIG 4 General Meeting to be held at 10.30 a.m.

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

For further information, please contact:

Mobeus Equity Partners LLP

Rob Brittain

Telephone: [phone]

 

END

 

 

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