Publication of Prospectus
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED IN IT ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY JURISDICTION WHICH THE SAME COULD BE UNLAWFUL.
This announcement does not constitute an offer to sell, or the solicitation of an offer to subscribe for, or to buy shares in any jurisdiction. This announcement is an advertisement and not a prospectus.
HARGREAVE HALE AIM VCT PLC
LEI: 213800LRYA19A69SIT31
2 September 2020
Issue of a Prospectus and Related Party Transaction
Further to the announcement on 22 June 2020, the Board of Hargreave Hale AIM VCT plc (the “Company”) is pleased to announce that the Company has today published a prospectus in relation to an offer for subscription under which the Company is seeking to raise up to £20 million, together with an over-allotment facility to raise up to a further £10 million (the “Offer”).
As part of the Offer the Company has entered into an offer agreement with the Company's administrator, Canaccord Genuity Wealth Limited (the "Administrator") dated 2 September 2020 (the "Offer Agreement"). Under the Offer Agreement the Administrator has agreed to act as receiving agent to the Company in relation to the Offer and to use its reasonable endeavours to procure subscribers for shares in the Company. As consideration for the services to be provided under the Offer Agreement the Company shall pay the Administrator a fee of 3.5 per cent. of the gross proceeds of the Offer.
Out of this fee the Administrator shall pay all costs and expenses of and incidental to the Offer and the preparation of the Prospectus. The Investment Manager is a related party. As such, this transaction is a smaller related party transaction as defined in LR11.1.10R.
The Offer opened on 2 September 2020 and will close on 20 August 2021 (unless fully subscribed by an earlier date or closed at the Directors' discretion). Persons intending to apply for ordinary shares under the Offer for the 2020/21 tax year should note that the deadline for such applications is 12.00 p.m. on 1 April 2021.
The Prospectus is available to download from the Company's website, . The Prospectus will also shortly be available for inspection at the National Storage Mechanism, .
For further information please contact:
Oliver Bedford, Canaccord Genuity Fund Management
Tel: 020 7523 4837
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014). Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.
