Proven VCT plc Proven Vct Plc: Intention To Utilise Over-Allotment Facility
31 Marzo 2022 - 11:11AM
UK Regulatory
TIDMPVN
ProVen VCT plc
ProVen Growth and Income VCT plc
31 March 2022
Intention to utilise remaining Over-Allotment Facility
On 11 January 2022, ProVen VCT plc and ProVen Growth and Income
VCT plc (the "Companies") launched offers for subscription (the
"Offer") to raise up to GBP40.0 million by way of an issue of new
ordinary shares ("New Ordinary Shares") in the Companies, with each
of the Companies raising up to GBP20.0 million, together with an
over-allotment facility of up to a further GBP40.0 million (being
up to GBP20.0 million for each of the Companies). Full details of
the Offer are contained in a prospectus (comprising a Securities
Note, Registration Document and Summary (the "Prospectus")), which
was published by the Companies on 11 January 2022.
Under the terms and conditions of the Offer, as set out in the
Prospectus, the directors of the Companies have the ability (at
their discretion) to utilise the over-allotment facility and
increase the number of New Ordinary Shares available for
subscription in order to raise further amounts under the Offer of
up to GBP20.0 million in each of the Companies. On 9 March 2022,
the Companies announced the utilisation of part of the
over-allotment facility of up to GBP10 million for each of the
Companies.
Each of the Companies expects to reach the increased GBP30.0
million capacity under their respective Offer shortly. Accordingly,
the directors of both Companies are pleased to announce that they
intend to utilise their respective remaining over-allotment
facility at this time, in the amount of GBP10.0 million for each
Company.
The Offer opened on 11 January 2022 and will close not later
than 1.00 p.m. on 4 April 2022 in respect of the 2021/2022 Offer
and not later than 1.00 p.m. on 29 April 2022 in respect of the
2022/2023 Offer, or if earlier as soon as the Offer is fully
subscribed. The directors of each of the Companies may decide to
extend the Offer in respect of their Company at their absolute
discretion to a date no later than 12 December 2022.
To obtain a copy of the Securities Note private investors and
Financial Advisers should call the investment manager, Beringea
LLP, on 020 7845 7820. A downloadable version of the Securities
Note (and the entire Prospectus) is also available from
www.provenvcts.co.uk. A copy of the Prospectus is also available,
free of charge, from the registered office of the Companies:
Beringea LLP
Charter House
55 Drury Lane
London WC2B 5SQ
If the registered office or Beringea's office is closed due to
government restrictions, copies may be requested by email to
info@beringea.co.uk
https://www.globenewswire.com/Tracker?data=XxGI8T-sDhzeD3FykrmWHdXB0VUIVya4YSMlOhNPYO_kT0J97XP-m0YeGyGBTv5PwKoIXovnGkAxn5ISF5tdubT2bnSDvtfVMkxIM101fbfOhFVAhuUJpDsVx3Fzq-F2is5mYdpR7UceybIF0sI1c_PmtdVkaGyCIFWIHsUpgeBdUJOxwvhx2aGBpqLjYtMdjG3k6iUGxXiurBvnPtYgZ6gWxa6QhrBBYq5jaDWBjssBzrfUXue3b6F9kLvUDg90n3UfDeW9xQT8a37cklE4eg==
or by calling Beringea on 020 7845 7820.
For further information please contact:
Shane Elliott on 020 7845 7820
Beringea LLP
Company Secretary
Telephone 020 7845 7820
(END) Dow Jones Newswires
March 31, 2022 05:11 ET (09:11 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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