Fundraising Update

RNS Number : 2039Z

Mobeus Income & Growth VCT PLC

08 January 2020

 

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

THE OFFER FOR SUBSCRIPTION IS NOW FULLY SUBSCRIBED

The Board of Mobeus 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 received applications to subscribe that reach both its initial £10 million limit, and the £5 million overallotment facility, the utilisation of which was announced on 19 November 2019.  On the basis of subscription application forms received as of 7 January 2019, and assuming they are all accepted, the £15 million Offer is now fully subscribed.

This Offer was launched in conjunction with those launched by The 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.

The Company has today allotted shares in respect of subscriptions totalling £12.70 million that were received up to 20 December 2019. As envisaged in the prospectus, the second and final allotment in respect of the balance of £2.30 million of subscription applications since received are planned to take place between 1 and 5 April 2020. Dealing in such shares is expected to commence within 3 business days following allotment.

The offer in respect of Mobeus Income & Growth 2 VCT plc remains open.  The offers in respect of Mobeus Income & Growth 4 VCT plc and The Income & Growth VCT plc are also fully subscribed.  Valid applications for shares in the Company received subsequent to the Offer now becoming fully subscribed 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]

 

END

 

 

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