Last checked at 
27 Oct 2017 16:54
27 October 2017
Amati VCT 2 plc
Legal Entity Identifier: 213800HAEDBBK9RWCD25
Amati VCT plc and Amati VCT 2 plc
Issue of a Prospectus and Offers 2017/2018 & 2018/2019
Amati VCT plc and Amati VCT 2 plc (together, "the Companies") announce that they have published a Prospectus in relation to offers for subscription for new Ordinary Shares in each of the Companies to raise, in aggregate, up to £20 million (before issue costs) (the "Offers") with an option for Amati VCT 2 plc to raise up to a further £10 million if a proposal to merge the two Companies proceeds.
As previously announced, the boards of the Companies believe that a merger is commercially in the best interests of both Companies and their respective shareholders but are currently waiting on clarification of a particular tax point before putting a proposal to shareholders. That clarification is hoped to be forthcoming in the near future. The unresolved tax issue would only be relevant if the potential merger proceeds and has no current impact on either of the Companies. Any merger would be subject to the prior approval of the shareholders of the Companies. Under the terms of the Prospectus, Amati VCT 2 plc has reserved up to 55 million new Ordinary Shares (Consideration Shares) to issue to Amati VCT shareholders as consideration for the transfer of the assets of Amati VCT to Amati VCT 2 in the event that the potential merger proceeds.
The Offers open on 30 October 2017 and are expected to close no later than 26 October 2018 (unless fully subscribed by an earlier date or previously closed).
A downloadable version of the Prospectus will be available from www.amatiglobal.com.
Copies of the Prospectus are available, free of charge, from Amati Global Investors, 18 Charlotte Square, Edinburgh, EH2 4DF.
In accordance with the Listing Rules, the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.
The Boards do not consider this announcement to contain market sensitive information.
For further information, please contact:
Amati Global Investors
on +44 (0)131 503 9115
or email: info@amatiglobal.com