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RNS Number : 4587T Puma Alpha VCT PLC 15 January 2025
Puma Alpha VCT plc (the "Company")
Offer for Subscription
A prospectus relating to an offer for subscription of up to £15,000,000 of
ordinary shares of £0.01 each, payable in full in cash on application,
together with an over-allotment facility for up to a further £5,000,000 of
ordinary shares (the "Offer"), was issued by the Company on 15 January 2025
(the "Prospectus").
The Offer will open on 15 January 2025 and is expected to close no later than
5 April 2025 for shares to be allotted in the 2024/25 tax year and, if the
Offer is extended beyond that date by the directors, no later than 12 December
2025 for shares to be allotted in the 2025/26 tax year (unless fully
subscribed by an earlier date or previously extended by the directors to no
later than 16 December 2025).
Pursuant to an offer agreement dated 15 January 2025 relating to the Offer
between, among others, the Company and Puma Investment Management Limited
("PIML"), PIML, as the promoter of the Offer, will receive a promoter fee of
up to 3% of the aggregate amount received by the Company under the Offer.
PIML, as the investment manager of the Company, is a related party of the
Company under UK Listing Rule 11.5.3R, and the payment of such a fee by the
Company to PIML is a related party transaction of an adequate size under UK
Listing Rule 11.5.4R for UK Listing Rule 8.2.1R to apply. The Board considers
this transaction fair and reasonable as far as the shareholders of the Company
are concerned and have been provided with written confirmation of this by the
Company's sponsor, Howard Kennedy Corporate Services LLP.
A copy of the Prospectus has been submitted to the National Storage Mechanism
and will shortly be available for viewing online at the following website
address: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) .
Copies of the Prospectus are also available free of charge from the office of
the Company's investment manager, Puma Investment Management Limited, Cassini
House, 57 St James's Street, London SW1A 1LD.
For further information please contact Rupert West on 020 7408 4050.
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