22 Feb 2019 11:25
Pembroke VCT plc (the "Company")
Issue of B Ordinary Shares of 1p each ("B Ordinary Shares") pursuant to an Offer for Subscription of up to £20 million of B Ordinary Shares (the "Offer") and corrections to RNS announcements released on 31 October 2018 and 13 December 2018
On 20 February 2019, 1,912,377 B Ordinary Shares (the "Shares") were allotted pursuant to the Offer. In accordance with the terms and conditions of the Offer, the offer prices at which the Shares were allotted were calculated by reference to the unaudited net asset value of a B Ordinary Share in the Company as at 30 September 2018 being 112.31p per B Ordinary Share. The offer prices at which the Shares were issued and allotted ranged from 114.03p to 118.85p per B Ordinary Share.
The Company also announces a correction to the RNS announcement made on 31 October 2018 of the Issue of Equity under the terms of the dividend investment scheme ("DIS") in respect of the allotment on 31 October 2018. That RNS understated the number of B Ordinary Shares that had been allotted by 1,101 B Ordinary Shares (the "31 October 2018 DIS Shares") 87,591 B Ordinary Shares were allotted at a price of 104.10p per B Ordinary Share not 86,490 B Ordinary Shares as previously stated in the Issue of Equity announcement released on 31 October 2018.
The Company further announces a correction to the RNS announcement made on 13 December 2018 of the Issue of Equity under the Offer in respect of the allotment dated 12 December 2018 of B Ordinary Shares. That RNS understated the number of B Ordinary Shares that had been allotted by 21,064 B Ordinary Shares (the "12 December 2018 Offer Shares") 3,309,656 B Ordinary Shares were allotted at prices ranging from 107.64p to 112.69p per B Ordinary Share not 3,288,592 B Ordinary shares as previously stated in the Issue of Equity announcement released on 13 December 2018.
Following the allotment and corrections as noted above, the Company's issued share capital as at 20 February 2019 is as follows:
· 18,097,588 Ordinary Shares (including 2 Ordinary Shares issued as subscriber shares)
· 38,296,271 B Ordinary Shares
Therefore, the total number of voting rights in the Company is 56,393,859. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change of interest in, the Company under the FCA's Disclosure and Transparency Rules.
Application for the Shares, the 31 October 2018 DIS Shares and the 12 December 2018 Offer Shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities will be made shortly and dealings are expected to commence on or around 1 March 2019. CREST accounts are expected to be credited as soon as practicable following the allotment and definitive documents of title are expected to be dispatched within ten business days of allotment.
For further information, please contact:
Pembroke VCT plc/ Oakley Investment Managers LLP (Manager)
020 7766 2836
Andrew Wolfson/ David Till
The City Partnership (UK) Limited (Company Secretary)
0131 243 7215
Doreen Nic
Cornerstone Communications
07917 080 365
Richard Acworth