Triple Point VCT 2011 PLC Related Party Transaction (2333U)
28 March 2019 - 3:52AM
UK Regulatory
TIDMTPOA TIDMTPOB
RNS Number : 2333U
Triple Point VCT 2011 PLC
27 March 2019
LEI: 213800AOOAQA5XQDEA89
27 March 2019
Triple Point VCT 2011 plc (the "Company")
Related Party Transaction
The Company presently has a prospectus offer for subscription
(the "Offer") open for a new, venture share class, which has
exceeded its GBP3 million minimum fundraising target for the
2018/19 tax year.
The Company is proposing to make its first allotment under the
Offer for the 2018/19 tax year on 29 March 2019 and will put those
funds on short term deposit, in compliance with VCT rules, pending
investment.
The Company has a pipeline of investment opportunities for the
new venture share class. These investment opportunities can often
require funding within a short timeframe.
Triple Point Advancr Leasing PLC, a company within the Triple
Point Group, is, therefore, proposing to make a facility of
GBP800,000 (the "Loan Facility") available to the Company as a
bridge to the allotment in the event that one or more of these
investments requires funds to be invested before allotted funds put
on short term deposit can be accessed.
The Loan Facility carries an interest rate of 4% p.a. on amounts
drawn and there is no penalty for early repayment.
The Loan Facility constitutes a related party transaction under
Listing Rule 11.1.10R.
For further information please contact:
Jonathan Parr, Partner
Triple Point
jonathan.parr@triplepoint.co.uk
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END
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