Stock Market Debut

BioScience VCT plc 19 April 2002 For Immediate Release 19 April 2002 Bioscience Vct Plc Stock Market Debut £6.5 million raised so far - open for subscription until 31st May 2002 BioScience VCT plc (BioScience VCT) the biotechnology-focused venture capital trust has today commenced dealings on the London Stock Exchange, following its successful Admission to the Official List of the UK Listing Authority (RIC: BVP). • The BioScience VCT, launched at the start of November 2001, is a biotechnology-focused venture capital trust that will enable private investors to gain exposure to a portfolio of quoted and unquoted companies. The BioScience VCT, which has already raised over £6.5 million, will be open for subscriptions until 31st May 2002. • The objective of the BioScience VCT is to enable its shareholders to invest in the highly exciting and high-growth bioscience sector. Specifically, Bioscience VCT will: * Provide shareholders with exposure to a diversified portfolio of 25-30 investments within the bioscience sector * Benefit from the expertise of the team of advisers who have had many years experience within the bioscience arena * Provide investors with exposure to a sector in which future revenue growth is, unlike other high-growth sectors, primarly driven by the ageing population and product innovation rather than general economic conditions • The BioScience VCT also offers substantial tax benefits to individual investors • Brewin Dolphin Securities Ltd is Sponsor and Stockbroker to the issue. Commenting on today's announcement, Dr Paul Nicholson, Chairman, said: 'I am delighted that we have been able to achieve this result in such a short period of time and in a difficult market. I look forward to working with the teams at Octopus and MMI to identify attractive investment opportunities for the BioScience VCT'. Simon Rogerson, Director of Octopus Asset Management, appointed as the Investment Manager to BioScience VCT further commented: 'Our dealflow has been excellent and we have identified a number of potential investment opportunities, particularly within the bioinformatics technology and biopharmaceutical sectors. I look to the future with every confidence.' For further information, please contact: Simon Rogerson Octopus Asset Management Tel: 020 7255 7962 Neil Baldwin Brewin Dolphin Securities Ltd Tel: 0113 241 0128 Lisa Baderoon (lisab@buchanan.uk.com) Mobile: 07721 41 34 96 Buchanan Communications Tel: 020 7466 5000 This information is provided by RNS The company news service from the London Stock Exchange
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