REG - Unicorn AIM VCT PLC - Statement re Offer for Subcription

Unicorn AIM VCTAnnouncement

17/03/2020 07:00

RNS Number : 3732G
  
Unicorn AIM VCT PLC
  
17 March 2020
  
 

Unicorn AIM VCT plc (the "Company")
LEI: 21380057QDV7D34E9870
Offer for Subscription - Important Update
 
 
The Company published a prospectus on 11 February 2020, ("the Prospectus") containing an offer for subscription of up to £15 million with an over-allotment facility for a further £10 million through the subscription of up to a maximum of 25 million ordinary shares of 1p each ("the Offer"). Full details of the Offer are contained in the Prospectus, which include details relating to the expected timetable for accepting Applications for the 2019/2020 tax year.
In view of the rapidly evolving Coronavirus pandemic and its impact on stock market volatility, the board of directors of the Company ("Board") currently intend to adopt a revised timetable related to the initial allotment of shares in respect of applications for the 2019/20 tax year. Valid applications (which requires the receipt of cleared funds) received by midday on 23 March 2020, are intended to be processed and allotted on 25 March 2020, based on an unaudited net asset value calculated as at the close of markets on 23 March 2020. If required, and remaining capacity permits, a second allotment of shares is then intended to take place on 3 April 2020, as originally indicated in the Prospectus, thereby accommodating any further valid applications in respect of the current tax year, which may be received following the initial allotment
The Directors of the Company are also pleased to announce that, if all subscription applications and reservations received as at 16 March 2020 result in valid applications with cleared funds, the initial £15m sought under the Offer will be fully subscribed.
In order to accommodate further demand, and in accordance with terms of the Prospectus, the Board has therefore decided, after consultation with Unicorn Asset Management, the Company's investment manager, to implement the over-allotment facility available under the Offer to raise a further £10 million. The Offer will remain open until 30 June 2020 unless the over-allotment facility is fully subscribed before this date or otherwise at the Board's discretion.
For further information please contact:
Chris Hutchinson at Unicorn Asset Management Limited (the Company's investment manager) on
020 7253 0889
 
ISCA Administration Services Limited (the Company Secretary) on
01392 487056; or unicornaimvct@iscaadmin.co.uk
 


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