Issue of Equity

Seneca Growth Capital VCT Plc (the "Company")

27 September 2018

Issue of Equity

On 9 May 2018 the Company launched an offer for subscription for New "B" ordinary shares of 1p each in the Company ("New "B" Shares") to raise, in aggregate, up to £10 million with an over-allotment facility of up to a further £10 million (before issue costs) (the "Offer"). The new funds are to be managed by North West head-quartered investment firm Seneca Partners Limited.

The Company made an initial allotment of 3,081,892 New B Shares under the Offer on 23 August 2018.

Pursuant to the Offer, and the £394,000 of valid applications received since the first allotment up to and including 21 September 2018, the Directors of the Company are pleased to announce that the Company has today issued and allotted 379,894 New "B" Shares. In accordance with the allotment formula set out in the prospectus for the Offer, the offer prices at which the New "B" Shares were issued were in the range of 100p to 105.8p per share.

As a result of this allotment, the number of shares now in issue is 8,115,376 ordinary shares of 1p each and 3,461,786 New "B" Shares. Therefore, the total number of voting rights in the Company is 11,577,162.

In respect of this allotment, an application will be made by the Company to the UK Listing Authority and to the London Stock Exchange for the New "B" Shares so issued to be admitted to the Official List and to trading on the London Stock Exchange's main market for listed securities. It is expected that the admission of the New "B" Shares will become effective and dealings will commence on or around 28 September 2018.

The above statement of voting capital may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

John Hustler, Seneca Growth Capital VCT Plc at john.hustler@btconnect.com

Richard Manley, Seneca Growth Capital VCT Plc at Richard.Manley@senecapartners.co.uk

Any enquiries in respect of the Offer should be directed to:

John DaviesSeneca Partners Limited01942 295 981John.Davies@senecapartners.co.uk