Downing FOUR VCT plc Downing Four Vct Plc : Publication Of Prospectus And Circular

 
TIDMD467 
 
   Downing FOUR VCT plc ("the Company") 
 
   8 December 2016 
 
   Publication of prospectus and circular 
 
   The Company has today issued a prospectus ("Prospectus") and circular 
("Circular") relating to two offers for subscription in respect of two 
new share classes; Generalist ordinary shares of 0.1p each in the 
Company ("Generalist Shares") to raise up to approximately GBP20 million 
and Healthcare ordinary shares of 0.1p each in the Company ("Healthcare 
Shares") to raise up to approximately GBP10 million (together the 
"Offers"), following the approval of the prospectus and circular by the 
UK Listing Authority. The Offers include an overallotment facility 
allowing the issue of up to a further GBP10 million worth of each of 
Generalist Shares and Healthcare Shares. 
 
   Because Downing LLP, as investment manager of the Company, is considered 
to be a related party under the Listing Rules, the new fee arrangements 
for the two new share classes described in the Prospectus and Circular, 
comprising a promoter's fee and the investment management and 
administration arrangements, and the performance incentive fees 
arrangements will constitute a related party transaction under the 
Listing Rules ("Related Party Transaction"). Shareholder approval of the 
Related Party Transaction will be sought at a General Meeting to take 
place on 16 January 2017. 
 
   The Offer is now open and will close at 3.00 pm on 5 April 2017 for the 
2016/2017 tax year and 3.00 pm on 30 September 2017 for the 2017/2018 
tax year, or earlier if the Offer is fully subscribed. The board of the 
Company reserves the right to close the Offer earlier or to extend the 
Offer (to no later than 30 November 2017). 
 
   The Prospectus and Circular have been approved by the UK Listing 
Authority and will shortly be available to view at the online viewing 
facility of the National Storage Mechanism at the following website 
address: www.morningstar.co.uk/uk/NSM. 
 
   Copies of the Prospectus and Circular will be available, free of charge 
from the Company's registered office, Ergon House, Horseferry Road, 
London SW1P 2AL and on Downing's website, www.downing.co.uk 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Downing FOUR VCT plc via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

December 08, 2016 13:24 ET (18:24 GMT)

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