Issue of Equity

RNS Number : 0506J

Income & Growth VCT (the) PLC

06 June 2014

 



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

6 June 2014

Issue of Equity

The Company announces that on 6 June 2014 it allotted and issued 673,661 new Ordinary Shares of 1 penny each.  These new shares in the Company have been issued subsequent to the linked offer for subscription with Mobeus Income & Growth VCT plc, Mobeus Income & Growth 2 VCT plc and Mobeus Income & Growth 4 VCT plc launched on 28 November 2013 to raise up to £24 million ("the Offer").   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.

In accordance with the allotment formula set out in the prospectus for the Offer, the new Ordinary Shares were issued at prices of between 120.95 and 126.85 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 will be 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 11 June 2014.

Following this allotment, the issued share capital of the Company is 60,146,803 Ordinary Shares of 1 penny each.

A total of £33.7 million was raised under the Offer which closed on 30 May 2014, of which £8.4 million was raised for The Income & Growth VCT plc.

For further information please contact:

Sarah Penfold at Mobeus Equity Partners LLP, Company Secretary, on 020 7024 7616.

 

END

 

 

IOELLFEIRSIRIIS