Albion Crown VCT Secures Funding Through New Share Allotment
Albion Crown VCT PLC Announces New Equity Allotment
Albion Crown VCT PLC has recently completed the second and final allotment for the tax year of new ordinary shares of nominal value 1 penny per share, known as "New Shares". This action falls under the Albion VCTs Prospectus Top Up Offers 2024/2025.
Details of the New Share Allotment
The allotment, which took place on April 4, 2025, received a strong response with valid applications totaling 27,830,556 New Shares. These shares are priced at 32.14 pence each, resulting in gross proceeds of approximately £8.7 million. This impressive total raises the cumulative funds raised under the prospectus to around £29.1 million.
Impact on Existing Shareholders
A key aspect of this share pricing strategy is ensuring existing shareholders are not diluted. The Company's approach aims to maintain the value of shares for those who chose not to participate in this latest fundraising effort. This careful consideration helps to foster trust and confidence among shareholders.
Admission to the London Stock Exchange
Applications have been made to the Financial Conduct Authority for the New Shares to be included in the Official List, with trading expected to commence on or around April 8, 2025. The New Shares will rank equally with existing ordinary shares, providing an uninterrupted continuity of shareholder rights.
Total Fundraising Achievements
This allotment marks the conclusion of the Offers, which were fully subscribed, successfully raising a total of £80 million across Albion VCTs. This success reflects strong interest and commitment to the Company's future plans.
Current Share Structure and Voting Rights
As of April 4, 2025, the total outstanding capital of Albion Crown VCT PLC comprises 436,249,656 ordinary shares, alongside 134,160,646 Ordinary C shares, each with a nominal value of 1 penny. Notably, the Company holds 45,787,992 ordinary shares in Treasury.
Understanding Shareholder Voting Rights
With 390,461,664 ordinary shares and 134,160,646 Ordinary C shares currently in circulation, this total serves as a reference for shareholders and stakeholders when considering their voting rights and the necessity to notify any changes in interest per FCA's Disclosure Guidance and Transparency Rules.
Contact Information for Inquiries
For those seeking further information, please reach out to Vikash Hansrani, Operations Partner at Albion Capital Group LLP, who serves as the Company Secretary. He can be contacted at 020 7601 1850.
Frequently Asked Questions
What is Albion Crown VCT PLC's recent allotment about?
It involves the issuance of new ordinary shares under their 2024/2025 fundraising initiative.
How many new shares were issued during this allotment?
A total of 27,830,556 New Shares were allotted, contributing to a cumulative total raised of approximately £29.1 million.
What precautions were taken for existing shareholders?
The pricing of New Shares was structured to prevent capital dilution for those who did not participate in the Offers.
When will the new shares be traded on the market?
The trading of New Shares is expected to commence on or around April 8, 2025.
Who can I contact for more details about the company?
Vikash Hansrani is the Operations Partner and Company Secretary, available at 020 7601 1850 for inquiries.
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