Issue of Equity

Downing FOUR VCT plc
LEI: 21380035MV1VRYEXPR95
15 January 2021
Issue of Equity

The Directors of Downing FOUR VCT plc announce an allotment on 15 January 2021 of Generalist Shares of 0.1p each (“Generalist Shares”) and Healthcare Shares of 0.1p each (“Healthcare Shares”) pursuant to the Offers for Subscription that opened on 27 February 2020 (“Offers”) as follows:

Date	Generalist  Shares	Average  issue price  per share		Healthcare  Shares	Average  issue price  per share
15 January 2021	649,182	62.41p		208,570	67.62p

Application for these shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities will be made shortly. Dealings are expected to commence on or around 21 January 2021.

Following these allotments, the issued share capital and total voting rights (excluding management shares) of the Company are summarised follows:

	Shares in issue	Voting  rights per Share	Voting rights
DSO D Shares of 0.1 pence each	7,867,247	232	1,825,201,304
DP67 Ordinary Shares of 0.1 pence each	11,192,136	375	4,197,051,000
Generalist Shares of 0.1 pence each	46,635,959	860	40,106,924,740
Healthcare Shares of 0.1 pence each	19,052,138	860	16,384,838,680
Total voting rights			62,514,015,724

Included in these issues of equity under the Offers were allotments of Generalist Shares to PDMRs as follows:

Director / PDMR		Generalist  Shares issued	Issue  price
Tony McGing	PDMR	163,398	61.2p
Nick Lewis	PDMR	163,398	61.2p

Following these allotments, above PDMRs had the following holdings in the Company's Generalist Shares:

Director / PDMR		Generalist  Shares held	% of Generalist Shares in issue
Tony McGing	PDMR	270,869	0.58%
Nick Lewis	PDMR	163,398	0.35%