Issue of Equity
15/02/2024 16:42
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INDIRECTLY, IN OR INTO, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH
AFRICA, THE UNITED STATES OR ANY MEMBER STATE OF THE EEA (OTHER THAN ANY
MEMBER STATE OF THE EEA WHERE THE COMPANY'S SECURITIES MAY BE LEGALLY
MARKETED), OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS
ANNOUNCEMENT. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM
PART OF ANY OFFER TO ISSUE OR SELL, OR ANY SOLICITATION OF ANY OFFER TO
SUBSCRIBE OR PURCHASE, ANY INVESTMENTS IN ANY JURISDICTION.
15 February 2024
HARGREAVE HALE AIM VCT PLC
(the “Company”)
Allotment of Shares
The Board announced on 7 September 2023 that the Company had published a
prospectus (the “Prospectus") and had published a supplementary prospectus
(the "Supplementary Prospectus") on 8 January 2024 in relation to an offer for
subscription of ordinary shares of 1p each (the "Ordinary Shares"), to raise
up to £20,000,000, with the discretion to utilise an over-allotment facility
to raise up to a further £20,000,000 (the "Offer"). On 15 February 2024 the
Company allotted 4,204,382 new Ordinary Shares pursuant to the Offer
conditional only on Admission (the timetable for which is set out in more
detail below).
The offer price at which the 4,204,382 new Ordinary Shares were allotted was
45.87p pence per Ordinary Share, which was calculated, in accordance with the
terms of the Offer, by reference to the ex-dividend net asset value of an
Ordinary Share on 9 February 2024 (as announced on 14 February 2024, being the
last published ex-dividend net asset value per Ordinary Share) divided by
0.965 (to allow for the costs of the Offer).
Application will shortly be made for the 4,204,382 new Ordinary Shares to be
admitted to the premium segment of the Official List of the Financial Conduct
Authority and to trading on the premium segment of London Stock Exchange
plc’s main market for listed securities ("Admission"). It is expected that
Admission will occur and dealing will commence in the new Ordinary Shares on
or around 21 February 2024. When issued, the new Ordinary Shares will rank
pari passu with the existing Ordinary Shares.
As a result of the issue, the total number of Ordinary Shares in issue will be
350,539,708 with each Ordinary Share carrying one vote each. Therefore, the
total voting rights in the Company will be 350,539,708. This figure may be
used by shareholders in the Company 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 share capital of the Company under the
Disclosure Guidance and Transparency Rules.
The new Ordinary Shares will be issued in registered form and may be held in
uncertificated form. Definitive documents of title are expected to be
dispatched within 15 business days of allotment. The new Ordinary Shares
will be eligible for settlement through CREST with effect from Admission.
Unless the context requires otherwise, terms defined in the Prospectus and
Supplementary Prospectus have the same meaning where used in this
announcement.
END
For further information, please contact:
JTC (UK) Limited Susan Fadil Uloma Adighibe HHV.CoSec@jtcgroup.com +44 203 893 1005 +44 203 832 3877
LEI: 213800LRYA19A69SIT31
Important Information
This announcement is an advertisement for the purposes of the Prospectus
Regulation Rules of the UK Financial Conduct Authority ("FCA") and is not a
prospectus. This announcement does not constitute or form part of, and should
not be construed as, an offer for sale or subscription of, or solicitation of
any offer to subscribe for or to acquire, any ordinary shares in the Company
in any jurisdiction, including in or into Australia, Canada, Japan, the
Republic of South Africa, the United States or any member state of the EEA
(other than any member state of the EEA where the Company's securities may be
lawfully marketed). Investors should not subscribe for or purchase any
ordinary shares referred to in this announcement except on the basis of
information in the Prospectus in its final form, published on 7 September 2023
by the Company in connection with the Offer. A copy of the Prospectus is
available for inspection, subject to certain access restrictions, from the
Company's registered office, for viewing at the National Storage Mechanism at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's
website (www.hargreaveaimvcts.co.uk). Approval of the Prospectus by the FCA
should not be understood as an endorsement of the securities that are the
subject of the Prospectus. Potential investors are recommended to read the
Prospectus before making an investment decision in order to fully understand
the potential risks and rewards associated with a decision to invest in the
Company's securities