REG - Pembroke VCT PLC - Publication of Prospectus

Pembroke VCTAnnouncement

09/09/2024 12:15

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RNS Number : 4499D  Pembroke VCT PLC  09 September 2024

9 September 2024

 

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 4 April 2025 in
respect of the 2024/2025 tax year and 3.00 p.m. on 27 June 2025 in respect of
the 2025/2026 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 2025/2026 tax year, may be extended by
the Directors at their absolute discretion to a date no later than 3 September
2025.

 

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 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 9 September 2024 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, PIM is a related party of the
Company under the UK Listing Rules and the payment of the above fee by the
Company to PIM is a related party transaction falling within UK Listing Rule
8.2.1R.

 

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

Leigh Marshall

M: +44 7388 003595 (tel:+447789686132)

E: pembroke@wearesevenhills.com (mailto:pembroke@wearesevenhills.com)

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