Issue of Equity

RNS Number : 2345U

Income & Growth VCT (The) PLC

20 October 2017

 

The Income & Growth VCT plc (the "Company")

20 October 2017

Issue of Equity

The Company announces that on 20 October 2017 it allotted and issued 7,167,226 new Ordinary Shares of 1 penny each ("Shares").  These new Shares in the Company have been issued pursuant to the Offer for subscription with Mobeus Income & Growth VCT plc, Mobeus Income & Growth 2 VCT plc and Mobeus Income & Growth 4 VCT plc, launched on 6 September 2017 to raise up to £50 million in aggregate, with over-allotment facilities to raise, in aggregate, up to a further £30 million ("the Offer").  Of this aggregate amount, the Company is seeking to raise £15 million, with an over-allotment facility to raise up to a further £10 million (presently unutilised).

In accordance with the allotment formula set out in the prospectus for the Offer, the new Ordinary Shares were issued at prices of between 81.21 and 86.42 pence per share, depending on the adviser charge (if applicable) and the number of shares issued (after taking roundings into account) pertaining to each application. 

Application has been made for the new Ordinary Shares to be admitted to the Official List of the UK Listing Authority and dealings are expected to commence on or around 24 October 2017.

Following this allotment, the issued share capital of the Company is 86,371,928 Ordinary Shares of 1 penny each.

Applications for subscription totalling £41.7 million have been received in respect of the Offer, of which £11.1 million of applications has been received by the Company.  Including the shares allotted by the Company on 28 September 2017, this brings the total number of shares allotted by the Company in respect of the Offer to 10,794,932.  These totals are updated daily on the VCT section of the Mobeus website at: www.mobeusequity.co.uk/vct-investors/fundraising.

For further information please contact:

Robert King at Mobeus Equity Partners LLP, Company Secretary, on 020 7024 7600.

 

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