Offer by Hargreave Hale AIM VCT 1 plc

Offer by Hargreave Hale AIM VCT 1 plc

Hargreave Hale AIM 1

HARGREAVE HALE AIM VCT 1 PLC

Intention to launch an Offer for Subscription

The Directors of Hargreave Hale AIM VCT 1 plc (“the Company”) are pleased to announce their intention to launch an offer for subscription for new shares.

STRUCTURE OF THE OFFER

Hargreave Hale AIM VCT 1plc

Hargreave Hale AIM VCT 1 is seeking to raise up to £10 million through an offer for subscription of new Ordinary Shares (the “Offer”). The Offer will be open to new and existing shareholders.

REASONS FOR THE OFFER

The purpose of the offer is to raise new capital for the Company to ensure it has sufficient capital to support its investment objectives of investing in both VCT qualifying and non-VCT qualifying opportunities; provide the Company with additional capital that can be used in support of its share buyback and dividend policies; and provide the Company with additional capital to take advantage of the new VCT investment limits which enable investment to be made in larger companies with assets of up to £15 million and with up to 250 employees. At the same time, the Offer will provide existing and new investors with the opportunity to invest into small companies through a tax efficient structure and with an award winning investment team that has a long track record of successful investment into small companies.

CONDITIONS

The Offer will be subject to shareholder approval and the Company will publish a circular confirming the resolutions sought and the date of the General Meeting in due course. Full details of the Offer will be contained in a prospectus that is expected to be published at the same time as the circular. The circular and prospectus require UKLA approval. A further announcement will be made when the prospectus and circular have been issued, which is expected to be within the next few weeks.

18 October 2012

For further information please contact:

Stuart Brookes
Company Secretary
Hargreave Hale AIM VCT 1plc
01253 754740