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Amati AIM VCT PLC (AMAT)

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Wednesday 28 August, 2019

Amati AIM VCT PLC

Update on offer for subscription

RNS Number : 3234K
Amati AIM VCT PLC
28 August 2019
 

Amati AIM VCT plc

28 August 2019

 

Amati AIM VCT plc (the "Company")

Legal Entity Identifier: 213800HAEDBBK9RWCD25

Update on offer for subscription

Following the announcement made on 26 June 2019, the Board has been discussing the size and structure of the proposed offer for subscription (the "Offer") with the Investment Manager. Having considered the deployment of funds over the last six months and the current pipeline of investment opportunities, the Company is seeking to raise £25 million over a 12 month period from the date of the prospectus. The Directors will also have discretion to utilise an over-allotment facility of up to £20 million, either in whole or in part. This facility will only be utilised if the Directors are satisfied that there is a suitable pipeline of investments to deploy the extra funds and if there is sufficient demand from investors.

In addition, provision is being made for up to a further £5 million to be raised from the Company's Dividend Re-Investment Scheme over the course of the Offer.

In order to ensure the efficient deployment of funds and to provide the Company with greater flexibility, the amount to be raised under the Offer prior to the Company's year end on 31 January 2020 will be capped at £15 million.

Further details of the Offer will be provided in a prospectus to be published by the Company around the end of October 2019. A further announcement will be released when the prospectus is available.

For further information, please contact Samantha Dalby on +44 (0)131 503 9115 or email: [email protected]

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014). Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.

 


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