ProVen VCT plc: Statement re. Offer for Subscription
2024年11月7日 - 12:08AM
RNSを含む英国規制内ニュース (英語)
ProVen VCT plc: Statement re. Offer for Subscription
ProVen VCT plc (LEI:
21380091P1TTU2Z2AW75)
ProVen Growth and Income VCT plc (LEI:
213800K1RM776QM8XG84)
(together the "Companies" and each being a
"Company")
6 November
2024
Publication of Prospectus
The Companies announce that they have today
published a Prospectus (comprising a Securities Note, Registration
Document and Summary) in respect of an offer for subscription to
raise up to £30,000,000 in aggregate by way of an issue of new
ordinary shares in the Companies ("New Ordinary Shares"), with an
over-allotment facility of up to a further £10,000,000 in aggregate
(each Company raising a maximum of £20,000,000 including the
over-allotment facility), payable in full in cash on application
(the “Offer”).
The Offer opens on 6 November 2024 and will
close not later than 5.00 p.m. on 3 April 2025 in respect of the
2024/2025 Offer and not later than 5.00 p.m. on 30 April 2025 in
respect of the 2025/2026 Offer, or as soon as the Offer is fully
subscribed. The directors of each of the Companies may decide to
extend the 2025/2026 Offer in respect of their Company at their
absolute discretion to a date no later than 5 November 2025.
Applicants (and their spouses/civil partners)
who had an existing shareholding in one of the Companies on 5
November 2024, and whose valid Application is accepted (including
cleared funds) in the months listed in the table below and which
forms part of the first £5 million of valid Applications for each
Company, will be entitled to additional New Ordinary Shares with an
aggregate subscription price equivalent to the percentages of the
amount subscribed set out in column marked (A) in the table below
for that month.
All other Applicants whose valid Application is
accepted (including cleared funds) in the months listed in the
table below and which forms part of the first £5 million of valid
Applications for each Company, will be entitled to additional New
Ordinary Shares with an aggregate subscription price equivalent to
the percentages of the amount subscribed set out in column marked
(B) in the table below.
Month of Application |
Percentage of Amount Subscribed |
|
(A) Existing Shareholders |
(B) New Shareholders |
November 2024 |
1.00% |
0.50% |
December 2024 |
0.75% |
0.40% |
January 2025 |
0.50% |
0.30% |
February 2025 |
0.50% |
0.30% |
The subscription price of the additional New
Ordinary Shares to be received by early applicants will be met by
Beringea LLP, the Companies' investment manager ("Beringea").
Pursuant to an agreement dated 6 November 2024
between, inter alia, the Companies and Beringea, Beringea will
receive a fee (the "Fee") for acting as promoter of the Offer equal
to three and a half (3.5) per cent. of the gross funds raised under
the Offer from applications received directly from investors and
three (3) per cent. of the gross funds raised under the Offer from
applications received through a financial adviser or an
execution-only broker. Out of the Fee Beringea will pay all costs,
agreed between the Companies and Beringea, including charges and
expenses, of or incidental to the Offer.
The board of each Company believes that the Fee
is fair and reasonable as far as the shareholders of their
respective Company are concerned and have been so advised by Howard
Kennedy Corporate Services LLP, as sponsor to each Company.
To obtain a copy of the Securities Note,
investors and Financial Advisers should call Beringea, on 020 7845
7820. A downloadable version of the Securities Note is also
available from www.proveninvestments.co.uk.
A copy of the Prospectus is available, free of
charge, from the registered office of the Companies and Beringea
at:
Charter House
55 Drury Lane
London WC2B 5SQ
Copies of the Prospectus will be submitted to
the National Storage Mechanism and will shortly be available for
viewing online at the following web-site address:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
For further information please contact Shane
Elliott on 020 7845 7820.
Beringea LLP
Company Secretary
Telephone 020 7845 7820
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