Income & Growth VCT (The) PLC Over-allotment facility (3417U)
23 October 2017 - 9:34PM
UK Regulatory
TIDMIGV
RNS Number : 3417U
Income & Growth VCT (The) PLC
23 October 2017
The Income & Growth VCT plc
23 October 2017
Fundraising update - Decision to utilise over-allotment
facility
The boards of Mobeus Income & Growth VCT plc, Mobeus Income
& Growth 2 VCT plc, Mobeus Income & Growth 4 VCT plc and
The Income & Growth VCT plc (the "Company") launched on 6
September 2017 offers for subscription to raise, in aggregate, up
to GBP50 million, with over-allotment facilities to raise, in
aggregate, up to a further GBP30 million ("the Offers" and each an
"Offer").
The board of directors of the Company ("the Board") is pleased
to report that, since the Offers were launched and following strong
demand from investors, the Company has received applications for
subscription totalling GBP11.3 million in respect of its Offer.
This amounts to 75.0% of the initial GBP15 million the Company is
seeking to raise under its Offer.
In light of continuing strong demand from investors, and after
consultation with Mobeus Equity Partners LLP, as Promoter to the
Offers, the Board has today decided to utilise the over-allotment
facility to raise up to a further GBP10 million under its
Offer.
As previously notified, the Offers will close at 12 noon on 4
April 2018, unless an Offer is fully subscribed by an earlier date
or otherwise closed at the relevant directors' discretion.
Investors who successfully apply for shares pursuant to the
Offers up to the earlier of the first GBP50 million, in aggregate,
being raised across the Offers, or 3 November 2017, will be
eligible to receive an early investment incentive discount of 1% of
the amount they subscribe for under the Offers.
As at 20 October 2017 the cumulative value of applications
received and expected to be accepted under all four of the Offers
was GBP42.8 million. The early investment incentive discount will
therefore only apply to the next GBP7.2 million of successful
applications, if applied for prior to 3 November 2017.
For further updates on the current cumulative value of
applications received, and to see full details of the Offers and
the Prospectus, please visit
www.mobeusequity.co.uk/vct-investors/fundraising.
For further information please contact:
Rob Brittain
Mobeus Equity Partners LLP
Telephone: 020 7024 7600
This information is provided by RNS
The company news service from the London Stock Exchange
END
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