Closure of the Company's Offer under the Albion VCTs Prospectus Top Up Offers 2019/20
ALBION DEVELOPMENT VCT PLC
LEI Code 213800FDDMBD9QLHLB38
CLOSURE OF THE COMPANY’S OFFER UNDER THE ALBION VCTS PROSPECTUS TOP UP OFFERS 2019/20 ("Albion VCT Offers")
The Board of Albion Development VCT PLC (the "Company") is pleased to announce that it has reached its £8m limit under its offer for subscription pursuant to the Prospectus dated 22 October 2019 ("Offer"), which is fully subscribed and has closed to further applications.
In light of recent investments and disposals made, the Board has decided not to exercise its over-allotment facility of a further £2m to take the amount up to its maximum limit, £10m as provided for under the Offer.
Allotments in respect of valid applications received prior to the Offer closing are expected to take place on 31 January 2020, for applications in respect of the current tax year, and on 8 April 2020 for applications in respect of the 2020/2021 tax year. Dealing in such shares is expected to commence within 3 business days following allotment.
The offer in respect of the last remaining company participating in the Albion VCT Offers remains open and valid applications for shares in the Company received subsequent to the Offer closing will be dealt with in accordance with prospective investors' instructions on their application forms.
7 January 2020
For further information, please contact
Albion Capital Group LLP
Telephone: 020 7601 1850