Last checked at 
5 Dec 2022 12:15
Issue of Equity and Total Voting Rights and CapitalALBION VENTURE CAPITAL TRUST PLC
Issue of Equity and Total Voting Rights
LEI Code 213800JKELS32V2OK421
The first allotment for the 2022/2023 tax year of new ordinary shares of nominal value 1 penny per share ("New Shares") in Albion Venture Capital Trust PLC (the “Company”) under the Albion VCTs Prospectus Top Up Offers 2022/23 (the “Offers”), (which was launched on 10 October 2022) took place on 2 December 2022.
Pursuant to the Prospectus, the Company offered an early bird discount of 1% on issue costs to existing shareholders and 0.5% on issue costs to new subscribers. These early bird discounts were available to investors who subscribed for New Shares for the first £10m across the six VCTs participating in the Offers. The cost of these discounts is being borne by the Manager, Albion Capital Group LLP. The issue pricing of the New Shares has been structured to avoid any capital dilution to existing shareholders who do not participate in the Offers.
The Company has received valid applications for 2,520,630 New Shares which will be allotted at an issue price of 53.8 pence per share from existing shareholders and 575,473 New Shares allotted at an issue price of 54.0 pence per share for new subscribers, both of which qualified for the early bird discount. A further 7,301,049 New Shares will be allotted at an issue price of 54.3 pence per share (which did not qualify for the early bird discount). The total net proceeds receivable by the Company for this allotment is approximately £5.51 million.
Application has been made to the Financial Conduct Authority for 10,397,152 New Shares to be admitted to the Official List and to the London Stock Exchange for the New Shares to be admitted to trading on the London Stock Exchange's market for listed securities. The New Shares rank pari passu with the existing shares in issue.
It is expected that admission to the Official List will become effective and that dealings in the New Shares will commence within three Business Days following allotment.
As at 2 December 2022, the total amount raised across the six VCTs under the Offers is £34.87 million (of which £1.12 million relates to the tax year 2023/2024). The Offers are expected to close no later than 2 p.m. on 30 September 2023 (unless fully subscribed by an earlier date or previously closed).
Following this allotment and in conformity with the provisions of DTR 5.6, we make the following notifications in connection with the issued share capital of the Company:
The Company's capital as at 2 December 2022 consists of 148,532,805 ordinary shares with a nominal value of 1 penny each. The Company holds 17,848,388 ordinary shares in Treasury.
Therefore, the total number of voting rights in the Company is 130,684,417, which may be used by shareholders and other persons as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
Vikash HansraniOperations PartnerAlbion Capital Group LLPCompany Secretary 020 7601 1850
5 December 2022