Unicorn AIM VCT PLC Statement re Offer for Subcription (3732G)
17 March 2020 - 6:00PM
UK Regulatory
TIDMUAV
RNS Number : 3732G
Unicorn AIM VCT PLC
17 March 2020
Unicorn AIM VCT plc (the "Company")
LEI: 21380057QDV7D34E9870
Offer for Subscription - Important Update
The Company published a prospectus on 11 February 2020, ("the
Prospectus") containing an offer for subscription of up to GBP15
million with an over-allotment facility for a further GBP10 million
through the subscription of up to a maximum of 25 million ordinary
shares of 1p each ("the Offer"). Full details of the Offer are
contained in the Prospectus, which include details relating to the
expected timetable for accepting Applications for the 2019/2020 tax
year.
In view of the rapidly evolving Coronavirus pandemic and its
impact on stock market volatility, the board of directors of the
Company ("Board") currently intend to adopt a revised timetable
related to the initial allotment of shares in respect of
applications for the 2019/20 tax year. Valid applications (which
requires the receipt of cleared funds) received by midday on 23
March 2020, are intended to be processed and allotted on 25 March
2020, based on an unaudited net asset value calculated as at the
close of markets on 23 March 2020. If required, and remaining
capacity permits, a second allotment of shares is then intended to
take place on 3 April 2020, as originally indicated in the
Prospectus, thereby accommodating any further valid applications in
respect of the current tax year, which may be received following
the initial allotment
The Directors of the Company are also pleased to announce that,
if all subscription applications and reservations received as at 16
March 2020 result in valid applications with cleared funds, the
initial GBP15m sought under the Offer will be fully subscribed.
In order to accommodate further demand, and in accordance with
terms of the Prospectus, the Board has therefore decided, after
consultation with Unicorn Asset Management, the Company's
investment manager, to implement the over-allotment facility
available under the Offer to raise a further GBP10 million. The
Offer will remain open until 30 June 2020 unless the over-allotment
facility is fully subscribed before this date or otherwise at the
Board's discretion.
For further information please contact:
Chris Hutchinson at Unicorn Asset Management Limited (the
Company's investment manager) on
020 7253 0889
ISCA Administration Services Limited (the Company Secretary)
on
01392 487056 ; or unicornaimvct@iscaadmin.co.uk
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END
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