Foresight Solar & Technology VCT plc - Publication of Prospectus

5 Jan 2022 15:46

Foresight Solar & Technology VCT plc - Publication of ProspectusLEI: 21380013CXOR8N6OD977

Foresight Solar & Technology VCT plc ("Company")

Publication of a Prospectus

Further to the announcement dated 3 December 2021, the board of the Company ("Board") is pleased to announce the publication of a prospectus relating to an Offer for Subscription to raise in aggregate up to £20 million (with an over-allotment facility for up to an additional £10 million) by issues of Foresight Williams Technology Shares (“FWT Shares”) ("Offer").

Related party transactionForesight Group Promoter LLP (the “Promoter”) has been appointed as promoter of the Offer under the terms set out below and the Promoter, as an agent and associate of the Company’s manager Foresight Group LLP, is regarded as a related party of the Company under the Listing Rules, therefore the terms of this appointment constitute a related party transaction under rule 11.1.10 of the Listing Rules. Pursuant to an agreement dated 5 January 2022 relating to the Offer between, among others, the Company and the Promoter, the Promoter will receive a fee of an amount up to a maximum of 5.5% (and capped at £1.35 million) of the amount subscribed under the Offer by Investors for acting as promoter of the Offer.

Further Information

The Offer is now open and will close on 1 April 2022 for the 2021/22 tax year and 4 January 2023 for the 2022/23 tax year or earlier if the Offer is fully subscribed or otherwise at the Board's discretion.

Full details of the Offer will be set out in the Registration Document, Summary and Securities Note which together comprise a Prospectus in accordance with the Prospectus Regulation, and which is published as at today's date. All documents comprising the Prospectus will be available from the offices of the Promoter and the following website: http://www.foresightgroup.eu.

A copy of the Prospectus has also been submitted to the Financial Conduct Authority and will be shortly available for inspection on both the Promoter's website (www.foresightgroup.eu) as well as at the National Storage Mechanism https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

For further information, please contact: Gary Fraser Foresight Group Telephone: 020 3667 8181