REG-Hazel Renewable Energy VCT 2 plc : Share buybacks and fundraising plans <Origin Href="QuoteRef">HR2O.L</Origin>

Gresham House Renewable Energy VCT 2Announcement

02/02/2018 14:05

       
Hazel Renewable Energy VCT1 plc (Legal Entity Identifier: 213800IVQHJXUQBAAC06)
Hazel Renewable Energy VCT2 plc (Legal Entity Identifier: 213800GQ3JQE2M214C75)
("the Companies")
2 February 2018
Share buybacks and fundraising plans
            
In line with the plans set out in the Annual Reports published by the Companies in January, the Companies now have firm indications of the level of demand for share buybacks from their Corporate Broker, Panmure Gordon. The Companies are now finalising arrangements to make funds available for the buybacks and expect to undertake transactions on or around 8 February 2018.
    
The Directors of the Companies further announce that, in consultation with the Investment Adviser, Gresham House Asset Management Limited, they are planning to launch a top-up Offer for Subscription ("Offer") in the coming weeks to give investors the opportunity of taking advantage of the upfront VCT tax reliefs for the 2017/18 and 2018/19 tax years. The capacity of the Offer is expected to be limited to 5 million (approx. 4.4 million). Full details will be available in due course.
       


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Source: Hazel Renewable Energy VCT 2 plc via Globenewswire