REG - Triple Point Venture - Publication of a Prospectus and Circular

Triple Point Venture VCTAnnouncement

04/09/2024 12:45

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RNS Number : 9161C  Triple Point Venture VCT PLC  04 September 2024

4 September 2024

 

Triple Point Venture VCT plc

(the "Company")

PUBLICATION OF PROSPECTUS AND CIRCULAR

The Board of Triple Point Venture VCT plc is pleased to announce that the
Company has issued a prospectus (the "Prospectus") relating to an offer for
venture ordinary shares to raise £10 million (the "Offer")*, together with a
circular (the "Circular") relating to the approval of an offer agreement in
connection with the Offer, following approval of the Prospectus and Circular
from the Financial Conduct Authority.

 

*If the Offer is oversubscribed it may be increased to £30 million at the
discretion of the directors of the Company.

 

Pursuant to the Offer, the Company's fund manager, Triple Point Investment
Management LLP ("TPIM"), will enter into an agreement with the Company (the
"Offer Agreement"), which will constitute a related party transaction as
defined by the UK Listing Rules as it is an agreement between the Company and
its fund manager, falling within UK Listing Rule 8.2.1R.

 

Pursuant to the Offer Agreement, TPIM will be paid (the "Promoter Fee") up to
an amount equal to 5.5% of the aggregate value of accepted applications for
Venture Shares under the Offer, out of which TPIM will discharge all external
costs, including initial commissions, and its own costs, in respect of the
Offer, but excluding any initial and ongoing charges agreed between an
authorised financial adviser and an investor. The Promoter Fee is required to
be aggregated under the UK Listing Rules with the same fee that was payable by
the Company to TPIM for promoting the offer for subscription that was launched
by the Company on 22 September 2023.

 

The Offer is now open and is expected to close on 31 July 2025 unless fully
subscribed at an earlier date. A copy of the Prospectus and Circular will
shortly be submitted to the National Storage Mechanism located at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
(https://data.fca.org.uk/#/nsm/nationalstoragemechanism) and may be viewed on
the Triple Point website at: www.triplepoint.co.uk
(http://www.triplepoint.co.uk) .

 

FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:

 Triple Point Investment Management LLP  Tel: 020 7201 8989

 (Investment Manager)
 Seb Wallace

 Jack Rose

 

The Company's LEI is 213800AOOAQA5XQDEA89

 

Further information on the Company can be found on its
website https://www.triplepoint.co.uk/current-vcts/triple-point-venture-vct-plc/s2539/

 

NOTES:

The Company is a Venture Capital Trust incorporated in July 2010 and was
established to fund small and medium sized enterprises. The Investment Manager
is Triple Point Investment Management LLP.

 

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