Issue of Equity and Total Voting Rights and Capital
ALBION ENTERPRISE VCT PLC
Issue of Equity and Total Voting Rights
LEI Code 213800OVSRDHRJBMO720
The first and final allotment for the 2021/2022 tax year of new ordinary shares of nominal value 1 penny per share ("New Ordinary Shares") in Albion Enterprise VCT PLC (the “Company”) under the Albion VCTs Prospectus Top Up Offers 2020/21 (the “Offers”), (which was launched on 5 January 2021) took place on 9 April 2021.
Pursuant to the prospectus setting out details of the Offers ("Prospectus"), the Company offered an early bird discount of 1% on issue costs to existing shareholders in the Companies and 0.5% on issue costs to new subscribers. These early bird discounts were available to investors who subscribed for New Ordinary Shares for the first £10 million received by 2 p.m. on 26 February 2021 across the five VCTs participating in the Offers.
The Company has received valid applications under the Offers for the 2021/2022 tax year for 144,118 New Ordinary Shares which will be allotted at an issue price of 114.0 pence per share from existing shareholders in the Companies and 9,249 New Ordinary Shares allotted at an issue price of 114.6 pence per share for new subscribers, both of which qualified for the early bird discount. A further 229,987 New Ordinary Shares will be allotted at an issue price of 115.2 pence per share (which did not qualify for the early bird discount). The total net proceeds receivable by the Company for these allotments is approximately £0.4 million, bringing net total raised by the Company under the Prospectus to £8.8 million.
Application has been made to the Financial Conduct Authority for 383,354 New Ordinary Shares to be admitted to the Official List and to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on the London Stock Exchange's market for listed securities. The New Ordinary Shares rank pari passu with the existing shares in issue.
It is expected that admission to the Official List will become effective and that dealings in the New Ordinary Shares will commence within three Business Days following allotment.
The Offers which constitute separate offers have been fully subscribed and all have been closed to further applications. The total amount raised across the Albion VCTs under the Offers is £58.5 million (of which £2.3 million relates to this tax year 2021/2022).
Following this allotment and in conformity with the provisions of DTR 5.6, the Company makes the following notifications in connection with its issued share capital:
The Company's capital as at 9 April 2021 consists of 85,615,454 ordinary shares with a nominal value of 1 penny each. The Company holds 10,713,420 ordinary shares in Treasury.
Therefore, the total number of voting rights in the Company is 74,902,034 which may be used by shareholders and other persons as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
Albion Capital Group LLP
Company Secretary
020 7601 1850
9 April 2021
