REG - Pembroke VCT PLC - Publication of Prospectus

Pembroke VCTAnnouncement

05/09/2023 11:00

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RNS Number : 4429L  Pembroke VCT PLC  05 September 2023

5 September 2023

 

Pembroke VCT plc

 

 

Publication of Prospectus

 

Pembroke VCT plc (the "Company") has today published a prospectus (the
"Prospectus") in relation to the offer for subscription of up to £40 million
of B Ordinary Shares of 1p each in the capital of the Company with an
over-allotment facility for up to a further £20 million of B Ordinary Shares
(the "Offer").

 

The deadline for the receipt of applications is 12 noon on 5 April 2024 in
respect of the 2023/2024 tax year and 3.00 p.m. on 28 June 2024 in respect of
the 2024/2025 tax year, or as soon as the Offer is fully subscribed. The
closing date of the Offer, and the deadline for receipt of applications for
the final allotment with respect to the 2024/2025 tax year, may be extended by
the Directors at their absolute discretion to a date no later than 4 September
2024.

 

An application has been made for the admission of the further B Ordinary
Shares to be issued under the Offer to a listing on the premium section of the
FCA's Official List and to trading on the main market of the London Stock
Exchange. It is expected that new B Ordinary Shares will be issued throughout
the period of the Offer until it closes.

 

Pursuant to an offer agreement dated 5 September 2023 relating to the Offer
between, among others, the Company and Pembroke Investment Managers LLP
("PIM"), PIM, as promoter of the Offer, will receive a fee calculated on the
value of each application for B Ordinary Shares under the Offer accepted by
the Company as follows:

 

(i)    5.0% for investors who have invested directly into the Company or
invested through an intermediary/platform and have not received advice;

(ii)         3.0% for investors who have invested in the Offer through
an intermediary and have received upfront advice including investors who are
investing through intermediaries/advisers using financial platforms,

or such lower percentage in each case as may be agreed by the Company and PIM.

 

As PIM is the Company's investment manager and, therefore, a related party of
the Company under the Listing Rules, the payment of the above fee by the
Company to PIM is a transaction to which Listing Rule 11.1.10R applies.

 

A copy of the Prospectus is available, free of charge, from the registered
office of the Company at 3 Cadogan Gate, London, SW1X 0AS.

 

A copy of the Prospectus will be submitted to the National Storage Mechanism
and will shortly be available for viewing online at the following website:

 

https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism)

 

 

 

 

For further information, please contact

 

Andrew Wolfson / Chris Lewis

Pembroke Investment Managers LLP (Manager)

+44 20 7766 6900

 

Robin Smeaton

The City Partnership (UK) Limited (Company Secretary)

enquiries@city.uk.com (mailto:enquiries@city.uk.com)

Keith Lassman

Howard Kennedy Corporate Services LLP

keith.lassman@howardkennedy.com (mailto:keith.lassman@howardkennedy.com)

 

Seven Hills PR

Gary O'Sullivan

0781 790 3406

gary.osullivan@wearesevenhills.com (mailto:gary.osullivan@wearesevenhills.com)

 

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