Albion Dev VCT Issue Of Equity And Total Voting Rights And Capital
01 March 2021 - 10:10PM
UK Regulatory
TIDMAADV
ALBION DEVELOPMENT VCT PLC
Issue of Equity and Total Voting Rights
LEI Code 213800FDDMBD9QLHLB38
The first allotment for the 2020/2021 tax year of new ordinary shares of
nominal value 1 penny per share ("New Ordinary Shares") in Albion
Development VCT PLC (the "Company") under the Albion VCTs Prospectus Top
Up Offers 2020/21 (the "Offers"), (which was launched on 5 January 2021)
took place on 26 February 2021.
Pursuant to the Prospectus, the Company offered an early bird discount
of 1% on issue costs to existing shareholders and 0.5% on issue costs to
new subscribers. These early bird discounts were available to investors
who subscribed for new shares for the first GBP10m received by 2 p.m. on
26 February 2021 across the five VCTs participating in the Offers. The
cost of these discounts is being borne by the Manager, Albion Capital
Group LLP. The issue pricing of the new shares has been calculated to
avoid any capital dilution to existing shareholders who do not
participate in the Offers.
The Company has received valid applications for 1,932,052 New Ordinary
Shares which will be allotted at an issue price of 83.3 pence per share
from existing shareholders and 515,665 New Ordinary Shares allotted at
an issue price of 83.8 pence per share for new subscribers, both of
which qualified for the early bird discount. A further 8,866,225 New
Ordinary Shares will be allotted at an issue price of 84.2 pence per
share (which did not qualify for the early bird discount). The total net
proceeds receivable by the Company for this allotment is approximately
GBP9.3 million.
Application has been made to the Financial Conduct Authority for
11,313,942 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.
It is expected that admission to the Official List will become effective
and that dealings in the New Ordinary Shares will commence within three
Business Days following allotment.
The Offers which constitute separate offers have been fully subscribed
and all have been closed to further applications. The total amount
raised across the Albion VCTs under the Offers is GBP58.5 million (of
which GBP56.2 million relates to this tax year 2020/2021).
Following this allotment and in conformity with the provisions of DTR
5.6, we make the following notifications in connection with the issued
share capital of the Company:
The Company's capital as at 26 February 2021 consists of 115,288,446
ordinary shares with a nominal value of 1 penny each. The Company holds
11,938,106 ordinary shares in Treasury.
Therefore, the total number of voting rights in the Company is
103,350,340, 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 Guidance and Transparency
Rules.
For further information, please contact:
Albion Capital Group LLP
Company Secretary
020 7601 1850
1 March 2021
(END) Dow Jones Newswires
March 01, 2021 06:10 ET (11:10 GMT)
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