8 Sep 2020 12:51
For immediate release
8 September 2020
Calculus VCT plc (the "Company")
Publication of Prospectus
The Company has today issued a prospectus relating to a proposed offer for subscription for the tax years 2020/2021 and 2021/2022 to raise up to £10 million with an over-allotment facility of a further £5 million (the "Offer"), following the approval of the prospectus by Financial Conduct Authority.
The Offer is now open and will close at 5.00 pm on 27 August 2021, unless extended. Applications will be accepted (in whole or part) at the discretion of the Board, but the Board intends to meet applications on a 'first come, first served' basis.
In relation to the Offer, the Company's manager, Calculus Capital Limited, has been appointed as promoter of the Offer. Calculus Capital Limited 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 a promoter agreement dated 8 September 2020 relating to the Offer, Calculus Capital Limited will receive a fee of an amount up to a maximum of 5.0% of the amount subscribed under the Offer by Investors for acting as promoter of the Offer. The Company has obtained written confirmation from its sponsor, Beaumont Cornish Limited, that the terms of the promoter agreement are fair and reasonable as far as the shareholders of the Company are concerned.
The prospectus has been approved by the Financial Conduct Authority and will shortly be available for download from the Company's website: www.calculuscapital.com/calculus-vct/ and the National Storage Mechanism: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
Enquiries:
Calculus Capital Limited
020 7493 4940
Francesca Rayneau
Beaumont Cornish Limited, Sponsor
020 7628 3396
Roland Cornish
Calculus Vct (CLC)