Offer to Shareholders

9 Apr 2009 12:39



FOR IMMEDIATE RELEASE 9 April 2009

HYGEA VCT ('Hygea' or the 'Company')

Offer to shareholders

The Board of Hygea has, today, posted a letter to shareholders setting out their proposals to raise additional funds for the Company to provide it with additional investment monies for existing investee companies and working capital by means of an offer to shareholders ("the Offer"). 

In March 2008, there was a 10% top up offer inviting investors to subscribe for up to 750,000 ordinary shares at 50p per share and there were applications for 258,000 ordinary shares. In addition, the Company have recently received an application and accordingly allotted 185,185 shares at 54p per share. Therefore, the Company are now offering shareholders the right to subscribe for up to 306,815 shares at 54p each in recognition of the increase in NAV during the year.

Allocations to existing shareholders will be based on a first come/first served basis until 30 April 2009, following which the allocation will be open to all applicants on the same basis. 

Application will be made to the UK Listing Authority for the new Ordinary Shares, which will rank pari passu with all existing Ordinary Shares, to be admitted to the Official List. Application will also be made to London Stock Exchange plc for the new Ordinary Shares to be admitted to trading on its market for listed securities. It is expected that admission to trading will become effective and will commence within 10 days of the allotments.

Enquiries:

Charles Breese, Hygea VCT plc on 01280 703482 or larpentnewton@btinternet.com

Roland Cornish, Beaumont Cornish Limited on 020 7628 3396