Sign In
27 Mar 2019 16:52
LEI: 213800AOOAQA5XQDEA89
27 March 2019
Triple Point VCT 2011 plc (the "Company")
Related Party Transaction
The Company presently has a prospectus offer for subscription (the "Offer") open for a new, venture share class, which has exceeded its £3 million minimum fundraising target for the 2018/19 tax year.
The Company is proposing to make its first allotment under the Offer for the 2018/19 tax year on 29 March 2019 and will put those funds on short term deposit, in compliance with VCT rules, pending investment.
The Company has a pipeline of investment opportunities for the new venture share class. These investment opportunities can often require funding within a short timeframe.
Triple Point Advancr Leasing PLC, a company within the Triple Point Group, is, therefore, proposing to make a facility of £800,000 (the "Loan Facility") available to the Company as a bridge to the allotment in the event that one or more of these investments requires funds to be invested before allotted funds put on short term deposit can be accessed.
The Loan Facility carries an interest rate of 4% p.a. on amounts drawn and there is no penalty for early repayment.
The Loan Facility constitutes a related party transaction under Listing Rule 11.1.10R.
For further information please contact:
Jonathan Parr, Partner
Triple Point
jonathan.parr@triplepoint.co.uk
Follow the stocks
