Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Quester VCT 5 PLC (SVC3)

  Print      Mail a friend       Annual reports

Wednesday 02 October, 2002

Quester VCT 5 PLC

Offers for Subscription

Quester VCT 5 PLC
02 October 2002

             Quester VCT 5 plc (the 'Company' or  'Quester VCT 5')



 Offers For Subscription of up to 15,000,000 Ordinary Shares of 1p each at 100p
               per Ordinary Share Payable in full on Application



The Directors announce that up to 15,000,000 Ordinary Shares are being offered
to the public by way of the Offers for Subscription. The Offers for Subscription
will be open from 2 October 2002, with the 2002/2003 Offer closing at 10.00am on
3 April 2003 and the 2003/2004 Offer closing at 10.00am on 30 April 2003 or
until they are fully subscribed if earlier. The Directors may, at their
discretion, resolve to extend the period during which the 2003/2004 Offer will
remain open.



Introduction



Quester VCT 5 raised a total of £18.6 million in the Initial Offers. The Company
has made a good start on its programme of venture capital investment and has a
current portfolio of seven investments spread across a range of sectors and in
companies at different stages of development.



In Quester's view this is a particularly interesting time to be investing in
unquoted companies. Prices have fallen significantly and competition for deals
has reduced. Attractive investment opportunities are now available at lower
prices, providing a favourable opportunity for the achievement of good returns
to shareholders over the long term.



Accordingly the Board has decided to offer investors a further opportunity to
subscribe for Ordinary Shares through the Offers, and thus to participate in the
high quality investment opportunities available through Quester's deal flow at
currently favourable prices.



As a specialist in this market, Quester receives a substantial number of
opportunities for investment each year, which are assessed on behalf of Quester
VCT 5 and the other Quester funds currently open to new investment. The first
three Quester VCT's are currently fully invested, when commitments and reserves
for follow-on investment are taken into account. Accordingly, whenever possible
and appropriate, Quester VCT 5 will co-invest principally alongside Quester VCT
4 and Quester's fund for institutional investors, the Quester Venture
Partnership.



The cost of investments completed to date by the Company, together with
outstanding commitments and reserves for follow-on investment in the companies
concerned, amounts to approximately £3.3 million, representing some 19 per cent.
of the net funds raised in the Initial Offers. This level of investment has been
reached in less than 10 months since the launch of the Initial Offers and the
Company is well on track to meeting the 70 per cent. minimum Qualifying Holdings
requirement to be satisfied by the end of the initial three year period.



The current rate of investment, Quester's strong deal flow (particularly given
currently favourable prices) and its track record all support the Offers of New
Ordinary Shares. The deal size available to Quester is increasing and the Board
is confident that this deal flow, combined with the opportunities for
co-investment with the other Quester VCT's and other Quester funds, will provide
investors in Quester VCT 5 with a range of attractive investment opportunities.



Details of the Offers for Subscription



The Offers comprise two offers for subscription providing investors with the
ability to invest in both the 2002/2003 and 2003/2004 tax years.



It is proposed to raise up to £15,000,000 before expenses under the Offers
(£14,120,000 net of expenses).  The New Ordinary Shares will be offered at 100p
per share payable in full on application.



The Offers will be open from 2 October 2002 with the 2002/2003 Offer closing at
10.00 am on 3 April 2003 and the 2003/2004 Offer closing at 10.00 am on 30 April
2003 or until they are fully subscribed if earlier. The Directors may, at their
discretion, resolve to extend the period during which the 2003/2004 Offer will
remain open.  Applications from existing shareholders in the Company or in any
of Quester VCT 1, Quester VCT 2, Quester VCT 3 or Quester VCT 4 which are
received by 30 October 2002 will be given priority under either of the Offers.
Otherwise, valid applications will be dealt with on a first-come, first served
basis.  Investors are therefore urged to return their applications promptly.



Share certificates will be posted to Shareholders as soon as possible after
allotment and in any event within 10 working days of each allotment.



There is no minimum overall subscription level to be reached before the Offers
proceed as Quester VCT 5 already has Ordinary Shares in issue. The Offers are
not underwritten.



The Directors have the discretion to make allotments of New Ordinary Shares in
respect of which valid Applications have been received at any time and such
allotment(s) may be made earlier than the closing dates of each of the Offers,
provided that no New Ordinary Shares will be allotted under the 2003/2004 Offer
until 7 April 2003 at the earliest.  In the event of an over-subscription for
New Ordinary Shares under the Offers, the Directors reserve the right to treat
applications in respect of which the Company has received cleared funds with
priority.



The Offers are conditional upon the admission of the New Ordinary Shares to the
Official List of the UK Listing Authority and to trading on the London Stock
Exchange's market for listed securities.  Application has been make to the UK
Listing Authority for the New Ordinary Shares issued pursuant to the Offers to
be admitted to the Official List of the UK Listing Authority and to the London
Stock Exchange for the same to be admitted to trading on the London Stock
Exchange's market for listed securities.



The New Ordinary Shares will be in registered form and no temporary documents of
title will be issued.  The Company has applied for the New Ordinary Shares to be
admitted to CREST and it is expected that the New Ordinary Shares will be so
admitted, and eligible for settlement in CREST, on the date of Admission. CREST
is a paperless settlement procedure enabling securities to be evidenced
otherwise than by a certificate and transferred otherwise than by a written
instrument.  This settlement procedure is reflected in the Articles of
Association of the Company.





Availability of the Prospectus



Copies of the prospectus are available for public inspection only at the
Document Viewing Facility of the UK Listing Authority, 25 The North Colonnade,
London E14 5HJ and are also available free of charge until the date on which the
2003/2004 Offer closes (or full subscription under the Offers, if earlier) for
collection from:



Quester VCT 5 plc

29 Queen Anne's Gate

London  SW1H 9BU



Evolution Beeson Gregory Limited


The Registry

Royal Mint Court


London EC3N 4LB




Capita IRG Plc

Bourne House

34 Beckenham Road

Beckenham


Kent  BR3 4TH



This announcement does not constitute an offer or an invitation to purchase or
subscribe for any securities. The procedure for, and the terms and conditions
of, application under the Offers are set out at the end of the Prospectus.



Evolution Beeson Gregory is acting as agent for the Company in relation to the
Offers and is not advising any other person, nor treating any other person as a
customer in relation to the Offers and will not be responsible to anyone other
than the Company for the protections afforded to its customers.



Words and expressions used in this announcement shall, unless the context
otherwise requires, bear the same meanings as set out in the document containing
the Offers for Subscription dated 2 October 2002.






                      This information is provided by RNS
            The company news service from the London Stock Exchange