Publication of an Offer Document and Relevant Related Party Transaction
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LEI: 213800LRYA19A69SIT31
23 January 2026
HARGREAVE HALE AIM VCT PLC
Publication of an Offer Document and Relevant Related Party Transaction
Offer for Subscription
Further to the announcement on 10 December 2025, the Board of Hargreave Hale AIM VCT plc (the "Company") is pleased to announce that the Company has today published an offer document (the "Offer Document") in relation to an offer for subscription under which the Company is seeking to raise up to £20 million together with the discretion to utilise an over-allotment facility to raise up to a further £10 million (the "Offer").
The Offer is now open and will close at 17.00 on 15 December 2026 (unless fully subscribed by an earlier date or closed at the Directors' discretion). Persons intending to apply for ordinary shares under the Offer for the 2025/26 tax year should note that the deadline for such applications is 17.00 on 25 March 2026.
Persons wishing to participate in the Offer must complete an Electronic Application Form (available at www.hargreaveaimvcts.co.uk) accompanied by electronic payment and follow the instructions given. The Board is of the view that the Electronic Application Form is the most efficient and cost-effective way for investors to participate in the Offer.
Early Bird Discount
Canaccord Genuity Asset Management Limited ("CAM") will offer an "early bird discount" of up to 2 per cent. on the initial fee for those applications received by CAM by 17.00 on Friday 27 February 2026, subject to a maximum aggregate subscription under the "early bird offer" of £10 million. The 2 per cent. discount (to the standard 3.5 per cent. initial fee) will only apply to applications which do not trigger the payment of introductory commission to a Financial Intermediary. In such cases, the available discount will fall to 1 per cent. Discounts are paid through the allotment of additional Offer Shares to the Investor. CAM reserves the right to vary the terms of the "early bird offer", including to revoke such offer, at any time and in its sole discretion.
Relevant Related Party Transaction
As part of the Offer, the Company has entered into an offer agreement with CAM, dated 23 January 2026 (the "Offer Agreement"). Under the Offer Agreement, CAM has agreed to administer the Offer, act as receiving agent to the Company in relation to the Offer and to use its reasonable endeavours to procure subscribers for shares in the Company. As consideration for the services to be provided under the Offer Agreement, the Company shall pay CAM a fee of 3.5 per cent. of the gross proceeds of the Offer. Out of this fee, CAM shall pay all costs and expenses of and incidental to the Offer and the preparation of the Offer Document.
The investment manager of the Company is CAM. Under the Listing Rules of the FCA, a related party of a closed-ended investment fund includes the investment manager of the fund. As such, the arrangement under the Offer Agreement constitutes a relevant related party transaction as defined in UKLR 11.5.4R. The Board considers the arrangement under the Offer Agreement to be fair and reasonable as far as the shareholders of the Company are concerned having been so advised by the Company's sponsor, Howard Kennedy Corporate Services LLP.
The Offer Document is available to download from the Company's website, www.hargreaveaimvcts.co.uk, subject to certain access restrictions. The Offer Document will also shortly be available for inspection at the National Storage Mechanism, https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
All capitalised terms used and not defined in this announcement shall have the same meaning as in the Offer Document.
For further information please contact:
Oliver Bedford, Canaccord Genuity Asset Management Limited
Tel: 020 7523 4837
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