Puma Alpha Vct. Regulatory News (PUAL)

Puma Alpha VCT plc (the "Company")

Offer for Subscription

A prospectus relating to an offer for subscription of up to £20,000,000 of ordinary shares of £0.01 each, payable in full in cash on application, together with an over-allotment facility for up to a further £10,000,000 of ordinary shares (the "Offer"), was issued by the Company on 23 July 2020 (the "Prospectus").

The Company has also published a circular to shareholders (the "Circular") seeking shareholder approval for matters in connection with the Offer and a related party transaction involving the Company and the investment manager of the Company, Puma Investment Management Limited ("PIML"), and giving notice of a general meeting to be held on 26 August 2020 (the "General Meeting").

The Offer will open on 23 July 2020 and is expected to close no later than 1 April 2021 for shares to be allotted in the 2020/21 tax year and no later than 1 June 2021 for shares to be allotted in the 2021/22 tax year (unless fully subscribed by an earlier date or previously extended by the directors to no later than 8 July 2021).

The Offer is conditional on the passing of certain resolutions at the General Meeting.

Pursuant to an offer agreement dated 23 July 2020 relating to the Offer between, among others, the Company and PIML, PIML, as the promoter of the Offer, will receive a promoter fee of 3% of the aggregate amount received by the Company under the Offer. PIML, as the investment manager of the Company is, therefore, a related party of the Company under the Listing Rules, and the payment of such a fee by the Company to PIML is a related party transaction which requires shareholder approval under Listing Rule 11.

Copies of the Prospectus and the Circular have been submitted to the National Storage Mechanism and will shortly be available for viewing online at the following website address: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Copies of the Prospectus are also available free of charge from the office of the Company's investment manager, Puma Investment Management Limited, Cassini House, 57 St James's Street, London SW1A 1LD.

For further information please contact Rupert West on 0207 408 4050.