Amati Aim Vct Regulatory News (AMAT)

Amati AIM VCT plc

31 October 2019

 

Amati AIM VCT plc (the "Company")

Legal Entity Identifier: 213800HAEDBBK9RWCD25

Offer for subscription

The Directors of Amati AIM VCT plc are pleased to announce that the Company has today published a prospectus (the "Prospectus") in connection with proposals to raise up to £25,000,000 (with an over-allotment facility to raise up to a further £20,000,000), by way of an offer for subscription (the "Offer") of new ordinary shares (the "New Shares") and the issue of up to a further £5,000,000 of New Shares under the Dividend Re-Investment Scheme.

The Offer will open on 31 October 2019 and will close at 12 noon on 2 April 2020 in relation to the tax year 2019/2020 and at 12 noon on 16 October 2020 in relation to the tax year 2020/2021 (unless the Offer is fully subscribed before this date and/or the Board closes the Offer earlier, which it may do in its sole discretion). Applications under the Offer will be processed from 31 October 2019. Multiple applications under the Offer from the same investor in the same tax year will not be accepted. The Directors have set the maximum amount that can be raised under the Offer prior to 31 January 2020 at £15,000,000. The amount to be raised after 31 January 2020 will be £25,000,000 less the amount already raised under the Offer (subject to any exercise of the over-allotment facility). If sufficient qualifying investments have been made from the initial proceeds of the Offer, and the Directors believe that there is a pipeline of investments to utilise the funds raised, the Board may use the over-allotment facility to raise up to a further £20 million under the Offer.

The first allotment of New Shares under the Offer is expected to take place on or around 25 November 2019 and thereafter allotments will be made on a monthly basis (or at such other times as the Board, in its sole discretion, may decide).

The number of New Shares to be issued under each allotment will be determined by the relevant offer price calculated on the following basis.

For existing shareholders and those investing through an authorised financial intermediary, the offer price is calculated by dividing the last published NAV per share at the time of allotment by 0.99 to allow for issue costs of 1% (calculated in pence and rounded up to the nearest two decimal places).For all other investors (i.e. investors other than existing shareholders and those investing through an authorised financial intermediary) the offer price is calculated by dividing the last published NAV per share at the time of allotment by 0.97 to allow for issue costs of 3% (calculated in pence and rounded up to the nearest two decimal places).

The Prospectus is available at www.amatiglobal.com and www.morningstar.co.uk/uk/nsm and, until 30 October 2020, copies are available for collection, free of charge, from the offices of Amati Global Investors and the offices of Dickson Minto W.S. on any Business Day. Copies can also be requested by contacting Amati Global Investors on 0131 503 9115 or by email at info@amatiglobal.com.

Subscriptions can be made online at www.amatioffer.com or by completing the subscription form contained in the Prospectus.

For further information, please contact the investor line at Amati Global Investors on 0131 503 9115 or by email at info@amatiglobal.com.

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