Issue of Equity and Total Voting Rights
16/04/2024 14:25
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CROWN PLACE VCT PLC
Issue of Equity and Total Voting Rights and Capital
LEI Code 213800SYIQPA3L3T1Q68
The first and final allotment for the 2024/2025 tax year of new ordinary
shares of nominal value 1 penny per share ("New Shares") in Crown Place VCT
PLC (the “Company”) under the Albion VCTs Prospectus Top Up Offers 2023/24
(the “Offers”), (which opened for applications on 2 January 2024) took
place on 16 April 2024.
Pursuant to the Prospectus, the Company offered an early bird discount of 1%
on issue costs to existing shareholders and 0.5% on issue costs to new
subscribers. These early bird discounts were available to investors who
subscribed for New Shares for the first £10m across the five Albion VCTs
participating in the Offers. The cost of these discounts is being borne by the
Manager, Albion Capital Group LLP. The issue pricing of the New Shares has
been structured to avoid any capital dilution to existing shareholders who do
not participate in the Offers.
The Company has received valid applications for 200,409 New Shares which will
be allotted at an issue price of 31.06 pence per share from existing
shareholders and 32,030 New Shares allotted at an issue price of 31.22 pence
per share for new subscribers, both of which qualified for the early bird
discount. A further 375,592 New Shares will be allotted at an issue price of
31.38 pence per share (which did not qualify for the early bird discount). The
total net proceeds receivable by the Company for these allotments is
approximately £0.2 million, bringing net total raised under the prospectus to
£7.3 million.
Application has been made to the Financial Conduct Authority for 608,031 New
Shares to be admitted to the Official List and to the London Stock Exchange
for the New Shares to be admitted to trading on the London Stock Exchange's
market for listed securities. The New Shares rank pari passu with the existing
shares in issue.
It is expected that admission to the Official List will become effective and
that dealings in the New Shares will commence on or around 18 April 2024.
The Offers which constitute separate offers have been fully subscribed and all
have been closed to further applications. The total amount raised across the
Albion VCTs under the Offers is £60 million, (of which £1.7 million relates
to this tax year 2024/2025).
Following this allotment and in conformity with the provisions of DTR 5.6, the
Company makes the following notifications in connection with the issued share
capital of the Company:
The Company's capital as at 16 April 2024 consists of 349,887,994 ordinary
shares with a nominal value of 1 penny each. The Company holds 45,787,992
ordinary shares in Treasury.
Therefore, the total number of voting rights in the Company is 304,100,002
which may be used by shareholders and other persons as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
For further information, please contact:
Vikash Hansrani
Operations Partner
Albion Capital Group LLP
Company Secretary
020 7601 1850
16 April 2024