Offer Update

RNS Number : 5755I

Income & Growth VCT (the) PLC

02 June 2014

 



Mobeus Income & Growth  VCT plc

Mobeus Income & Growth 2 VCT plc

Mobeus Income & Growth 4 VCT plc

The Income & Growth VCT plc

("the Companies" [and each a "Company")])

2 June 2014

Mobeus VCTs Linked Offer for Subscription

The Boards of Mobeus Income & Growth VCT plc, Mobeus Income & Growth 2 VCT plc,

Mobeus Income & Growth 4 VCT plc and The Income & Growth VCT plc announce that the Linked Offer for Subscription for new ordinary shares of 1p each in the capital of each of the Companies closed on 30 May 2014 ("the Offer"). 

The Offer was launched on 28 November 2013 to raise, in aggregate, up to £24 million.  In accordance with the terms of the prospectus, the Boards of the Companies announced on 24 March 2014 that this sum had increased to £34 million, in response to increased investor demand.

The Boards are pleased to announce that the Offer has raised gross proceeds of £33.7 million, with each Company receiving £8.4 million. 

A final allotment of shares under the Offer, which will be in respect of the £3.2 million gross proceeds raised in the 2014/15 tax year, will be undertaken by 9 June 2014.  At that point, each Company will announce the final numbers and issue prices of the shares each has allotted under the Offer and their issued share capital.    Dealings in the shares are expected to commence within three business days thereafter. 

For further information please contact:

Robert Brittain

Mobeus Equity Partners LLP, the Company Secretary

Tel: [phone].

 

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