Mobeus Income & Growth 4 VCT PLC Publication of Suppl.Prospcts (4061C)
08 February 2020 - 5:37AM
UK Regulatory
TIDMMIG4 TIDMMIG TIDMMIX TIDMIGV
RNS Number : 4061C
Mobeus Income & Growth 4 VCT PLC
07 February 2020
Joint Announcement
Mobeus Income & Growth VCT plc, Mobeus Income & Growth 2
VCT plc (MIG 2), Mobeus Income & Growth 4 VCT plc and The
Income & Growth VCT plc (together the Companies)
Issue of Second Supplementary Prospectus
The Companies issued a prospectus (constituted by a summary,
securities note and registration document) dated 25 October 2019
(Prospectus) relating to the offers for subscription to raise, in
aggregate, up to GBP38 million, with over-allotment facilities to
raise, in aggregate, up to a further GBP20 million (Offers and each
an Offer).
On 6 February 2020, the MIG 2 Board announced that, due to
investor demand, it had decided to increase the MIG 2 Offer size to
raise up to a further GBP2.1 million (MIG 2 Offer Increase).
The Boards of the Companies announce that they have published a
second supplementary prospectus to the Prospectus (Second
Supplementary Prospectus) as a result of the MIG 2 Offer
Increase.
A copy of the Second Supplementary Prospectus has been submitted
to the Financial Conduct Authority and will shortly be available
for inspection at the National Storage Mechanism, which is located
at:
www.morningstar.co.uk/uk/nsm
A copy of this Second Supplementary Prospectus, together with
the Prospectus and the first supplementary prospectus dated 20
December 2019, are available from the following website:
www.mobeus.co.uk/investor-area/fundraising
Pursuant to an offers' agreement dated 25 October 2019 relating
to the Offers between, among others, each Company and Mobeus Equity
Partners LLP (Mobeus), MIG 2 will pay Mobeus a fee of an amount
representing 3.0% of the Investment Amounts (as defined in the
Prospectus) in respect of applications accepted under its Offer,
less (i) an amount equal to 0.5% of the Investment Amounts in
respect of investors who receive advice from a financial adviser
(and the application forms are completed by the financial adviser
on this basis) less (ii) an amount equal to any 'execution only'
initial commission waived by 'execution only' intermediaries in
respect of such applications, and less (iii) an amount equal to any
further amounts by which Mobeus agrees (at its discretion, but
subject to not reducing Offer Costs (as defined in the Prospectus)
to less than nil) to reduce its fees in respect of such
applications, such amount being inclusive of VAT and subject to a
cap on the amount payable by MIG 2 to 2.5% of the gross amount
raised under its Offer (and rebate any amount paid in excess of
this amount to MIG 2.
As a result of the MIG 2 Offer Increase, the maximum fee payable
by MIG 2 to Mobeus will now be 2.5% of the gross amount raised
under its Offer as increased by the MIG 2 Offer Increase.
As Mobeus is a related party of MIG 2 under the Listing Rules of
the Financial Conduct Authority, the payment of the increased fee
by MIG 2 to Mobeus is a transaction to which Listing Rule 11.1.10R
applies.
In addition, Mobeus has agreed to waive its management fees for
MIG 2 by an amount equal to 2.0% of any net funds raised by MIG 2
under the MIG 2 Offer Increase for the 12 month period commencing
on the start of the first calendar quarter following close of the
MIG 2 Offer.
For further information please contact:
Rob Brittain
Mobeus Equity Partners LLP
Company Secretary
020 7024 7600
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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