REG-Publication of a Prospectus

Foresight Enterprise VCTAnnouncement

06/01/2026 13:30

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260106:nGNE2x5tfv&default-theme=true


FORESIGHT ENTERPRISE VCT PLC (Company)

LEI: 213800MWJNR3WZZ3ZP42
Offer and Prospectus

6 January 2026

The board of the Company (Board) is pleased to announce the launch of a new
offer for subscription (Offer) to raise up to £40 million through the issue
of new shares (Offer Shares). The Offer will provide shareholders and new
investors with a further opportunity to invest in the Company and benefit from
the VCT tax reliefs available to qualifying investors.

The Offer will open for applications at 9.00 a.m. on 14 January 2026 and will
close for applications at 12.00 noon on 30 March 2026 (or, if earlier, as soon
as the Offer is fully subscribed or otherwise at the Board’s discretion).
Unless the Offer timetable is extended at the discretion of the Board, the
Offer will not be open in respect of the 2026/2027 tax year.

The additional funds raised will allow the Company to maintain liquidity
levels to take advantage of investment opportunities, maintain its dividend
policy, make market purchases of its own shares and support its running costs.
Full details of the Offer are set out in the prospectus issued by the Company
today (Prospectus).

Foresight Group LLP (Foresight) is acting as the promoter to the Offer and
will be paid a fee equal to 2.5% (as reduced by any relevant discounts) of the
amount subscribed by Retail Client Investors, Professional Client Investors
and Execution-Only Investors (as each term is defined in the Prospectus) and
4.5% (as reduced by any relevant discounts) of the amount subscribed by Direct
Investors (as defined in the Prospectus), (Promoter’s Fee). Additional costs
(financial intermediary commission and adviser commission) may apply to
non-Direct Investors (as detailed in the Prospectus). The maximum fee payable,
if all investors were Direct Investors, would be £1.8 million. In
consideration of the Promoter’s Fee, Foresight has agreed to meet all costs,
expenses and charges of, or incidental to, the Offer (other than financial
intermediary commissions and adviser charges).

Foresight, as manager to the Company, is a related party of the Company for
the purposes of the UK Listing Rules. The Promoter’s Fee constitutes a
related party transaction (separately and when aggregated with other related
party transactions with Foresight and their associates within the preceding 12
months (there being no such relevant related party transactions at the date
hereof)) for the purposes of the UK Listing Rules and, as such, UK Listing
Rule 8.2.1 (by virtue of UK Listing Rule 11.5) applies. The Board considers
the Promoter’s Fee to be in line with market practice. The Board further
considers the transaction is fair and reasonable as far as the shareholders of
the Company are concerned and have been so advised by BDO LLP, the Company's
sponsor, who has provided the required written confirmation in accordance with
UKLR 8.2.1R(3).

The price at which the Offer Shares are being made available is the most
recently published net asset value of an existing share at the time of
allotment plus associated Offer costs directly or indirectly incurred by an
investor (including the Promoter’s Fee). As a result, the Offer is not
expected to have any material dilutive effect on existing shareholders’ net
asset value per share. The Offer Shares will rank pari passu with the existing
shares in the Company from issue.

The Prospectus has been approved to the Financial Conduct Authority and shall
shortly be available for download from the Company’s website
(www.foresightenterprisevct.com) and the National Storage Mechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism).

For further information, please contact:

Company Secretary
Foresight Group LLP
Contact: Stephen Thayer Tel: 0203 667 8100

Investor Relations
Foresight Group LLP
Contact: Andrew James Tel: 0203 667 8181