REG - Guinness VCT PLC - Publication of Prospectus and Circular

Guinness VctAnnouncement

14/09/2023 13:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230914:nRSN4946Ma&default-theme=true

RNS Number : 4946M  Guinness VCT PLC  14 September 2023

14 September 2023

Guinness VCT plc (the "Company")

Publication of Prospectus and Circular

The Company has issued a prospectus dated 14 September 2023 (the
"Prospectus"), relating to a proposed offer for subscription of ordinary
shares of 1p each in the Company ("Shares") to raise up to £10 million with
an over-allotment of up to a further £5 million (the "Offer"), and a circular
(the "Circular") in connection with the Offer, following approval from the
Financial Conduct Authority.

The Circular includes a notice of a general meeting to be held at 10 a.m. on
18 October 2023 (the "General Meeting").

Pursuant to an agreement dated 14 September 2023 relating to the Offer
between, inter alia, the Company and Guinness Asset Management Limited, the
Company's investment manager (the "Manager"), the Manager will charge the
Company an Initial Fee, for its role as promoter, as follows:

• for direct investors and execution-only investors, 5.5% (plus VAT, if
applicable) of gross funds remitted under the Offer; and

• for investors receiving financial advice, 3% of gross funds remitted under
the Offer;

As the Manager is the Company's investment manager and, therefore, a related
party of the Company under the Listing Rules, the payment of the above fees by
the Company to the Manager is a transaction to which Listing Rule 11.1.7
applies. Accordingly, the Offer is conditional on shareholders passing
Resolution 1 at the General Meeting.

Further, Ewen Gilmour and Andrew Martin Smith have each undertaken to
subscribe for £10,000 of Shares under the Offer.  As directors of the
Company, Ewen Gilmour and Andrew Martin Smith are both related parties of the
Company under the Listing Rules and, consequently, entering into these
undertakings is a transaction to which Listing Rules 11.1.10R applies.

The Offer will open on 14 September 2023 and may close at any time thereafter,
but, in any event, not later than 3p.m. on 4 April 2024, in the case of the
2023/2024 Offer, and 3 p.m. on 28 June 2024, in the case of the 2024/2025
Offer (unless, in either case, the Offer has been fully subscribed by an
earlier date or extended at the discretion of the Directors to a date not
later than 30 August 2024).

The Prospectus and Circular will shortly be available for inspection at the
National Storage Mechanism, which is located at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://www.globenewswire.com/Tracker?data=fCyfTwW7fzVUfFWzYbBsaMJLI-k66PbYu_qmFZvGgaaAHNQEtwkoDINSGkuDf2u8Yi-9BceujsqtU0atZLqznwWH036Zeaxsomxe5JggNrvpENfN8Aa_th884MaK4CiH9Qr52HKs8kMyXKcRvHKeekW33Y7p6n6ZEICw_BIITQZSf0MfkpP9F7fRpVsAdI80)
and on the Company's website at
https://www.guinnessgi.com/ventures/guinness-vct
(https://www.guinnessgi.com/ventures/guinness-vct) .

For further information, please contact:

Hugo Vaux

Guinness Asset Management Limited (Manager)

vct@guinnessfunds.com

 

Robin Smeaton

The City Partnership (UK) Limited (Company Secretary)

enquiries@city.uk.com

 

 

Keith Lassman

Howard Kennedy Corporate Services LLP

Keith.Lassman@howardkennedy.com

 

Alex Collins

Panmure Gordon (UK) Limited (Corporate Broker)

alex.collins@panmure.com

If Investors have any questions regarding an investment in the Offer, they
should contact their own independent financial adviser. For questions relating
to an application, they should contact the Receiving Agent as set out on page
79 of the Prospectus. Advisers and intermediaries should contact RAM Capital,
who are acting as marketing advisers in respect of the Offer, on 0203 006 7530
or by sending an e-mail to taxsolutions@ramcapital.co.uk.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PDIFLFELAFISLIV