Fundraising Update

RNS Number : 6907X

Income & Growth VCT (The) PLC

20 December 2019

 

 THE INCOME & GROWTH VCT PLC (the "Company")

THE OFFER FOR SUBSCRIPTION IS NOW FULLY SUBSCRIBED

The Board of The Income & Growth VCT plc is pleased to announce that, in accordance with its offer for subscription under the Prospectus dated 25 October 2019 (the "Offer"), the Company has now reached both its initial £5m limit, and the £5m over allotment facility, the utilisation of which was announced on 14 November 2019.  On the basis of subscription forms received as of 20 December 2019, and assuming they are all accepted, the £10 million Offer is now fully subscribed.

This Offer was launched in conjunction with those launched by Mobeus Income & Growth VCT plc, Mobeus Income & Growth 2 VCT plc and Mobeus Income & Growth 4 VCT plc (together the "Companies"). In aggregate, the Companies sought to raise up to a total of £38 million, with optional over-allotment facilities to raise up to a further £20 million.

Allotments in respect of valid applications received prior to the Offer closing are expected to take place in the first two weeks of January 2020. Dealing in such shares is expected to commence within 3 business days following allotment.

The offers in respect of the three companies still participating in the joint-offers remain open and valid applications for shares in the Company received subsequent to the Offer closing will be dealt with in accordance with prospective investors' instructions on their application forms.

For further information please contact:

The City Partnership

Receiving Agents

T: [phone]

Mobeus Equity Partners LLP,

Company Secretary

T: [phone]

 

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