ALBION TECHNOLOGY & GENERAL VCT PLC
LEI Code 213800TKJUY376H3KN16
The first allotment for the tax year 5 April 2018, of New Ordinary shares of nominal value 1 penny per share in Albion Technology & General VCT PLC (the "Company") under the Albion VCTs Prospectus Top Up Offers 2017/2018 (the "Offers"), (which was launched on 6 September 2017) took place on 17 November 2017.
Pursuant to the Prospectus, the Company offered a 1% discount on issue costs to existing shareholders and 0.5% discount on issue costs to new subscribers. This early bird discount was available to investors whom subscribed for New Shares for the first £10m by 2.00 p.m. on 31 October 2017 across the five VCTs participating in the Offers. The cost of these discounts is being borne by the Manager, Albion Capital Group LLP.
The Company has received applications for 1,425,053 New Ordinary shares at an issue price of 74.9 pence per share from existing shareholders and 692,891 New Ordinary shares at an issue price of 75.3 pence per share for new subscribers, both of which qualified for the early bird discount. A further 2,296,207 New Ordinary shares will be allotted at an issue price of 75.6 pence per share. The issue prices are based on a net asset value of 73.7 pence per share announced on 16 November 2017. The net proceeds for this allotment by the Company are approximately £3,255,000.
Application has been made to the Financial Conduct Authority for 4,414,151 New Ordinary shares to be admitted to the Official List and to the London Stock Exchange for the New Ordinary shares to be admitted to trading on the London Stock Exchange's market for listed securities. The New Ordinary shares rank pari passu with the existing shares in issue, including for the next dividend of 1 penny per share which will be paid on 29 December 2017.
It is expected that admission will become effective, and that dealings in the shares will commence on or before 8.00 a.m. on 21 November 2017.
The Offers constitute separate offers made by each of the Albion VCT's which are participating in it. As at this closing on 17 November 2017, in total, the amount raised across the Albion VCTs under the Offers was £19,100,000 (of which £369,000 relates to tax year 2018/2019) and will remain open until 24 August 2018 (unless fully subscribed before this date).
Following this allotment and in conformity with the provisions of DTR 5.6, we would like to notify the market of the following:
The Company's capital as at 17 November 2017 consists of 113,854,054 Ordinary shares with a nominal value of 1 penny each. The Company holds 12,742,070 Ordinary shares in Treasury.
Therefore, the total number of voting rights in the Company is 101,111,984, which may be used by shareholders and other persons as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
For further information, please contact:
Patrick Reeve
020 7601 1850
20 November 2017
